There are times when an individual who has a claim under ERISA is unable to bring that claim on their own. In these situations, an authorized representative of the claimant can bring the claim instead. A recent Department of Labor (DOL) Information Letter, issued at the end of February, provides clarification regarding the ability of this individual to act on behalf of the claimant. Specifically, it addressed the Read More
Can a Company Implement a Match Safe Harbor Mid-Year?
Businesses make plans and strategic changes throughout the year. These changes may involve ramping up or down employees, buying or merging with other businesses, or changing goals in such a way that HR needs to re-align benefits to reflect those goals. Human resources departments, meanwhile, are working to follow either a calendar or fiscal year plan of important notices, paperwork, and changes for employees. Is it Read More
Lexology
Latest IRS Expansion to Self-Correction Program for Tax-Qualified Retirement Plans Read More
Case Study: Deconstruction and Redesign of the Executive Compensation Program for a Company with Long-Term Growth and Retention Objectives
This blog is an excerpt of Anne Tyler Hall's book "Case Studies in ERISA: Why It Matters And How It Benefits You, A Plan Sponsor's Guide To Employee Benefits Legal Compliance" request your free digital copy of the book here. Client: A global firm based in the Southeast with more than 400 employees. It had an existing, but ineffective LTIP and deferred compensation (DC) plan. The LTIP was intended to Read More
Key Benefits Considerations in Mergers & Acquisitions
When companies come together through a merger or acquisition, there’s significant work conducted when blending the two organizations, particularly in regards to benefits offered. Comparing health plans, retirement plans, and other benefit packages offered is just the first step to merging the benefits and keeping key employees in the company being bought happy with the arrangement. Comparing Plans Benefits is just Read More
Mitigating the Tax Impact on Employee Equity Compensation
Businesses of all sizes, from brand new startups to large blue-chip enterprises, like to use equity compensation for key employees. This ties the employee’s financial interest to that of the company and can provide the company with a creative additional way of compensating individuals. Depending on the type of plan a business sets up, this compensation may be better tax wise for employees than traditional Read More
