Employment Archives | Page 47 of 105 | EMPLOYEE BENEFITS BLOG

Germany Enacts Law on Mandatory Quota for Women in Business

by Bettina Holzberger and Dr. Sandra Urban-Crell | Sep 22, 2015 | Employment, Labor

On 6 March 2015, the German Bundestag passes a law (the Frauenquote) that aims to ensure the equal participation of women and men in the management of business and public office. The Frauenquote entered into force on 1 May 2015. The new regulation, although commonly referred to as a “women’s quota” is legally constructed to ensure that both genders are represented by as many individuals as necessary to meet the mandatory statutory minimum quota.

For more about the mandatory quota including the main effects, obligations and sanctions for infringements, read the full article in International News: Focus on Private Equity.

Expert Q&A on Same-sex Partner Benefits After the US Supreme Court’s Obergefell Decision

by Jacob Mattinson and Todd Solomon | Sep 17, 2015 | Employee Benefits, Employment

In June 2015, the US Supreme Court ruled in Obergefell v. Hodges that same-sex couples may exercise the right to marry in all states and that states may not refuse to recognize a lawful same-sex marriage performed in another state based on the marriage’s same-sex character. Practical Law asked McDermott lawyers Todd Solomon and Jacob Mattinson to discuss the implications of the Obergefell ruling for employers.

Read the full article.

EEOC Proposed Rules Provide Long-Awaited Guidance for Wellness Programs

by McDermott Will & Emery | Sep 15, 2015 | Employment, Health and Welfare Plans

Susan M. Nash wrote this bylined article about the Equal Employment Opportunity Commission’s (EEOC) long-awaited guidance on when it will enforce the Americans with Disabilities Act (ADA) against employers who sponsor certain types of employee wellness programs. “Although still in proposed form, the proposed rule provides insight into EEOC’s approach toward regulating employer wellness programs,” Ms. Nash wrote.

Read the full article in Corporate Wellness Magazine.

Digital Due Diligence: Uncovering Violations in China

by Anthony A. Bongiorno | Sep 10, 2015 | Employment, Privacy and Data Security

China’s current compliance challenges are a continuous source of concern for multi-national companies operating in China. When conducting internal investigations, China has strong privacy protections for its employees. Overstepping legal limits can lead to a variety of issues, from inadmissibility of evidence to tort actions, to criminal penalties in extreme cases.

For more about the multiplicity of issues and how to correctly conduct internal investigations and digital due diligence in China, read the full article in International New: Focus on Private Equity.

WEBCAST : What All Employers Need to Know About the New Joint-Employer Standard

by McDermott Will & Emery | Sep 9, 2015 | Employee Benefits, Employment

Thursday, September 17, 2015
12:00 – 1:00 pm CDT

On Thursday, August 27, 2015, the National Labor Relations Board (NLRB) issued a decision significantly expanding the definition of a joint employer. The decision has implications for most employers, both unionized and non-unionized. Joint-employer issues may affect businesses using contractors or staffing agencies; franchisers and franchisees; parent entities and subsidiaries; and private equity groups and their portfolio companies.

In addition to the NLRB’s decision, other federal agencies have signaled their interest in a broadened definition of what constitutes an employment relationship: the U.S. Equal Employment Opportunity Commission filed an amicus brief in the NLRB litigation urging a broader joint-employer standard, and the Wage and Hour Division of the U.S. Department of Labor recently issued guidelines with a sweeping definition of employee status. These changes may also have implications for the Affordable Care Act compliance and qualified benefit plans.

Please join us for a one-hour webcast to discuss the ramifications of the NLRB’s decision and the steps businesses should be taking to decrease risk associated with joint-employer relationships.

Click here to view the event listing.

Recent IRS Guidance Prohibits Lump-Sum Windows for Pension Retirees, Updates Pension Mortality Tables for 2016

by Jeffrey Holdvogt and Maggie McTigue | Sep 3, 2015 | Employee Benefits, Employment, Retirement Plans

The Internal Revenue Service (IRS) recently issued two significant notices for employers that sponsor defined benefit pension plans, particularly those considering lump-sum windows as a “de-risking” option for their plans. In Notice 2015-49, the IRS notified plan sponsors that they are no longer permitted to offer retirees in pay status the option to take a lump-sum payment in lieu of ongoing annuity payments. Plan sponsors may, however, continue to offer a lump-sum payment option to deferred vested participants not in pay status. In Notice 2015-53, the IRS released updated mortality tables for 2016 and delayed the issuance of new regulations, which could incorporate new mortality assumptions recommended by the Society of Actuaries that many believe would increase pension funding liabilities and minimum lump-sum payments.

Read the full article.

With No Federal Law in Sight, States Continue to Refine Their Own Data Privacy Laws

by David Quinn Gacioch | Aug 26, 2015 | Employment, Privacy and Data Security

With no Congressional consensus to adopt a federal data privacy and breach notification statute, states are updating and refining their already-existing laws to enact more stringent requirements for companies. Two states recently passed updated data privacy laws with significant changes.

Read the full post here.

Cracking the Code: Taxing Developments in Benefit Compliance

by McDermott Will & Emery | Aug 21, 2015 | Employment, Fiduciary and Investment Issues, Retirement Plans

Generally, any type of organization can offer a defined benefit pension plan under Section 4019a) in the Internal Revenue Code of 1986, as amended (the “Code) or a Code Section 401(k) Plan. However, only employers described in Code Section 501(a) and educational organizations described in Code Section 170(b)(A)(iii) are permitted to sponsor Code Section 403(b) plans. Equally, Code Section 457 plans can only be sponsored by governmental and other organizations exempt from tax under the Code. Until roughly 2009, both Code Sections 403(b) plans and Code Section 457 plans had been basically ignored or overlooked by the Internal Revenue Service (“IRS”) and the Department of Labor (“DOL”). However, as these two plans have accumulated significant assets over the course of time (many occurring due to the consolidation of large plans in the healthcare sector through business combinations), the IRS and DOL have deemed it necessary to start taking a closer look. The audits of Code Section 403(b) plans and Code Section 457 plans has increased dramatically in the last few years to the point where the IRS has now issued its “top ten list” of issues which tax-exempt entities need to focus on when sponsoring these types of plans.

Read the full article from the Journal of Compensation and Benefits.

What Private Equity Funds Should Know About ERISA

by Joseph K. Urwitz | Aug 18, 2015 | Employment, Fiduciary and Investment Issues

Managers of private equity funds who are responsible for investing the assets of a fund that holds plan assets are likely to be considered a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (ERISA). ERISA imposes numerous duties on fiduciaries, and those who fail to meet ERISA’s standards may be personally liable to restore plan losses, disgorge profits made through the use of plan assets, and pay additional statutory penalties imposed by the Department of Labor. The fiduciary may also face criminal penalties if found guilty of wilful failure. It is therefore vitally important that fiduciaries are fully aware of all their duties under ERISA.

Read the full article.

California Amends Its Healthy Workplaces, Healthy Families Law

by Chris C. Scheithauer and Michael T. Graham | Aug 14, 2015 | Employee Benefits, Employment, Executive Compensation, Health and Welfare Plans, Labor

As previously reported, California’s Healthy Workplaces, Healthy Families Act of 2014 (California’s Sick Leave Law) took full effect on July 1, 2015, although some provisions were effective as of January 1, 2015. The new law generally requires most employers to allow employees to accrue paid sick leave. This On the Subject discussed requirements employers must meet, including Assembly Bill 304, which amends California’s Sick Leave Law to make immediate changes.

Read the full article.

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