ERISA & Employee Benefits

Deal-Breaking M&A Issues Related to Employee Benefit Plans and Executive Compensation

Employee benefit and executive compensation issues can disrupt merger and acquisition transactions when overlooked until the last minute, or cause major post-transaction problems if not properly addressed before closing. The list below is intended to facilitate the detection, negotiation, and resolution of possible employee benefit plan and executive compensation-related problems. As a general ...

PBGC Requests OMB Approval for Data Collection for ERISA Title IV Coverage Analysis

The Pension Benefit Guaranty Corporation ("PBGC") issued a notice (84 Federal Register 20168 (Wednesday, May 8, 2019)) informing the public that the PBGC has requested the Office of Management and Budget ("OMB") approve a collection of information necessary for the PBGC to determine, upon request by the plan, whether (or not) a plan is covered under Title IV of the Employee Retirement Security ...

IRS Expands Determination Letter Program - Revenue Procedure 2019-20

In Revenue Procedure 2016-37, the Internal Revenue Service ("IRS") eliminated the long-standing program under which a plan sponsor could request a determination that its individually-designed plan satisfies the tax-qualification requirements of Internal Revenue Code Section 401(a), except for initial qualifications and qualifications upon plan termination. Plan sponsors and employee benefit ...

Multiemployer Plan Reforms are Needed Before it's Too Late

The President's proposed 2020 Budget, released March 11, 2019, would shore up the Pension Benefit Guaranty Corporation's ("PBGC") multiemployer pension plan insurance fund by increasing premiums, including "variable-rate" and "exit" premiums in addition to the current "flat-rate" premiums. The PBGC's separate single-employer insurance program has included such premiums for years. The ...