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Search the News Archive
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38 Matching News Items |
| 1. |
King & Spalding
May 20, 2024
"If it becomes effective, ... the final rule may cause employers to move towards ... [1] Longer time-based vesting periods. [2] More cliff-based vesting or otherwise requiring workers to be employed at payment to earn a benefit and forfeiture of benefit upon terminations prior to such time. [3] More 'buy outs' as replacement compensation for forfeited equity and incentive compensation for new hires as a result of the above. [4] 'Garden leave' replacing severance."
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| 2. |
King & Spalding inThe Journal of Federal Agency Action
June 1, 2023
"Encouraging executive officers to reduce errors requiring restatements, the new rule targets compensation awarded to executive officers as a result of erroneously reported financial information that is received in the three-year period preceding the date when an issuer is required to prepare an accounting restatement due to material noncompliance with any financial reporting requirement under securities laws."
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| 3. |
King & Spalding
Nov. 20, 2022
"[E]ffective October 1, 2022, the Paid Leave Act [provides] eligible individuals with: [1] twelve weeks of paid parental leave, [2] twelve weeks of paid family leave, [3] twelve weeks of medical leave, and [4] two weeks of paid prenatal leave up to a maximum of twelve weeks paid leave in any fifty-two-workweek period.... D.C. employer payroll taxes for the program are reduced to 0.26% of each employee's wages."
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| 4. |
King & Spalding
Aug. 24, 2022
"The Draft Amendments include new minimum requirements for the cybersecurity policies and governing bodies of covered entities.... Covered entities may need to invest significant time and resources to implement the final Part 500 amendments and, if adopted, most of these changes would take effect only 180 days following their adoption."
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| 5. |
King & Spalding
July 25, 2022
"Collective investment trusts, or CITs, and 403(b) plans have played recurring -- though separate -- roles in the surge of excessive fee lawsuits that have been filed against retirement plan fiduciaries over the past decade and a half. Congress is poised to pass bipartisan retirement legislation that could bring these two currents together to form a new wave of litigation[.]"
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| 6. |
Thomson Reuters Practical Law
June 1, 2022
"A federal district court rejected a law firm associate's claim for interference with benefits under Section 510 of [ERISA]. According to the court, the associate did not provide sufficient evidence that his firm's stated reasons for terminating the associate's employment were pretextual." [Joffe v. King & Spalding LLP, No. 17-3392 (S.D.N.Y. May 26, 2022)]
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| 7. |
King & Spalding
May 15, 2022
"[1] Required automatic enrollment and escalation for new retirement plans.... [2] Changes to required minimum distributions.... [3] Changes to catch-up contributions.... [4] Treatment of student loan payments as elective deferrals for purposes of matching contributions.... [5] Small immediate financial incentives for contributing to a plan.... [6] Expanded coverage of long-term, part-time workers.... [7] Recovery of retirement plan overpayments.... [8] Safe harbor for corrections of elective deferral failures."
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| 8. |
DOL Expresses Extreme Skepticism About Allowing 401(k) Plan Participants to Invest in Cryptocurrency
King & Spalding
Mar. 17, 2022
"[Compliance Assistance Release 2022-01] marks a significant departure from the DOL's standard position by indicating that an entire asset class should be viewed skeptically. ERISA, however, does not prohibit 401(k) plans from offering such investments. Including cryptocurrencies as a 401(k) plan investment option may or may not make sense for a particular plan depending on myriad factors."
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| 9. |
King & Spalding
Feb. 8, 2022
"[T]he DOL has provided guidance on including private equity as a component of an investment option, and the U.S. District Court for the Northern District of California has ruled on fiduciary issues related specifically to including alternative investments as a component of a large defined contribution plan's investment options."
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| 10. |
King & Spalding
Jan. 7, 2022
"At oral argument in Hughes, the Justices grappled with several interrelated issues that will shape whether, and how high, they set the bar for excessive fee claims: [1] What's the standard for prudent fiduciary conduct? ... [2] Excessive fees versus excessive options.... [3] What is an appropriate comparator?.... [4] Are subsequent plan changes fair game?" [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020; oral arg. transcript Dec. 6, 2021)]
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