Jackie Sinn
Subscribe to Jackie Sinn's PostsPBGC Publishes Preliminary Plan for Regulatory Review; Will Re-Examine Reportable Event and 4062(e) Guidance
By Jackie Sinn on Jun 7, 2011
Posted In Benefit Controversies
by Maureen O’Brien and Joseph S. Adams In response to an Executive Order from the White House to identify opportunities to make government regulations less burdensome and more effective, the Pension Benefit Guaranty Corporation (PBGC) recently published its Preliminary Plan for Regulatory Review. Most notably, PBGC noted that it had begun implementing the Executive Order by reconsidering several...
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Developments for Employers that Sponsor Wellness Programs
By Jackie Sinn on Apr 15, 2011
Posted In Benefit Controversies
by Amy Gordon, Susan Nash and Jamie Weyeneth On April 11, 2011, the U.S. District Court for the Southern District of Florida found in favor of the defendant’s (Broward County) motion for summary judgment in Seff v. Broward County. The plaintiff, which is made up of a class of present and former employees of Broward...
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Seventh Circuit Reverses Summary Judgment In Kraft ERISA “Excessive Fees” Case
By Jackie Sinn on Apr 14, 2011
Posted In Benefit Controversies, Retirement Plans
by Nancy Ross and Chris Scheithauer On April 11, 2011, a divided Seventh Circuit panel reversed summary judgment in favor of Kraft Foods Global, Inc. in a class action ERISA breach of fiduciary duty case involving “excessive fees” claims in connection with Kraft’s 401(k) plan. The main take away from the decision is that fiduciaries...
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Federal Government Refuses to Defend DOMA; Implications for Employee Benefit Plans
By Jackie Sinn on Apr 11, 2011
Posted In Benefit Controversies
by Todd Solomon and Brian Tiemann On February 23, 2011, U. S. Attorney General Eric Holder issued a press release indicating that the federal government will no longer defend the constitutionality of Section 3 of the federal Defense of Marriage Act (DOMA). Section 3 of DOMA provides that for all purposes under federal law, the...
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Final EEOC Regulations for the ADA Amendments Act, Published on March 25, 2011
By Jackie Sinn on Apr 5, 2011
Posted In Employment, Privacy and Data Security
by Heather Egan Sussman and Stephen Erf The Equal Employment Opportunity Commission (EEOC) recently released the final regulations intended to simplify implementation of the Americans with Disabilities Act Amendments Act (ADAAA). In the ADAAA, which went into effect on January 1, 2009, Congress directed the EEOC to revise its Americans with Disabilities Act (ADA) regulations...
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IRS Issues Revenue Ruling Clarifying Termination Provisions for 403(b) Plans
By Jackie Sinn on Mar 2, 2011
Posted In Retirement Plans
by Philip Castrogiovanni and Todd A. Solomon In Revenue Ruling 2011-7, the IRS addresses the requirements for a plan sponsor to terminate a 403(b) plan, and the tax consequences to participants of doing so. Particularly, the IRS addresses termination of 403(b) plans consisting of employee deferrals and employer contributions whose assets are invested in individual...
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Requirements for Certain Nonimmigrant Visa Petitions to Be Modified
By Jackie Sinn on Dec 17, 2010
Posted In Employment
by Joan-Elisse Carpentier, David J. Levine and Raymond Paretzky On December 22, 2010, U.S. Citizenship & Immigration Services will require all companies and individuals petitioning for certain nonimmigrant status to use a new Nonimmigrant Visa Petition (Form I-129), which requires all petitioners for an H-1B, H-1B1 Chile/Singapore, L-1 or O-1A visa to answer questions regarding release...
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Department of Labor Issues New Rules on 401(K) Fee Disclosure to Participants
By Jackie Sinn on Dec 10, 2010
Posted In Retirement Plans
by Paul J. Compernolle, Lisa K. Loesel and Karen A. Simonsen On October 14, 2010, the U.S. Department of Labor (DOL) issued final regulations that require enhanced fee disclosures to participants in 401(k) plans and other defined contribution plans subject to the Employee Retirement Income Security Act (ERISA) with participant-directed investments. The DOL believes that participants...
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SEC Proposes Rules on Executive Compensation Shareholder Votes Under Dodd-Frank
By Jackie Sinn on Nov 1, 2010
Posted In Executive Compensation
by Joseph S. Adams, Andrew C. Liazos, Thomas J. Murphy and Anne G. Plimpton On October 18, 2010, the U.S. Securities and Exchange Commission (SEC) issued proposed rules regarding shareholder advisory votes on executive compensation and golden parachute arrangements under Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). There are three separate...
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New Law OKs “In-Plan” Roth 401(k) Conversions; Year-End Action May Be Desirable
By Jackie Sinn on Oct 27, 2010
Posted In Retirement Plans
by Joseph S. Adams, Paul J. Compernolle, Jeffrey M. Holdvogt, Maureen O’Brien, Patrick D. Ryan and Elizabeth A. Savard Employers sponsoring 401(k) or 403(b) plans should give immediate consideration to recently enacted legislation that allows participants to convert their retirement accounts in such plans to Roth accounts in 2010 and avoid some of the plan...
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