Archive for the ‘Employee Briefcase’ Category
Understanding Executive Retention Agreements | Employment Law
The use of Executive Retention Agreements (“Agreement” or “Agreements”) generally occurs in two broad situations. First, the agreement is a reward in recognition of the executive’s significant contribution to the creation of value and leadership within the company. Alternatively, an executive may know or suspect their employer is going to be acquired or their employment security is in danger for another reason outside of the executive’s control.
Executives of Nonprofits and Tax-Exempts Under ScrutinyUnlawful Terminations and the Impact of Recent Court Decisions | Employment Law
The Internal Revenue Service and other governmental agencies are scrutinizing the pay practices of nonprofit organizations. Specifically, federal and state initiatives, trends and best practices are placing nonprofit organizations under pressure to disclose and justify the executive compensation programs. It is particularly important that executives of nonprofit organizations have their contracts for executive compensation reviewed […]
Unlawful Terminations and the Impact of Recent Court Decisions | Employment Law & Employee Benefits
Daniel E. Kornfeld, and Brian LaClair--a Partner and Associate, respectively, in Blitman & King's Labor and Employment Practice--recently discussed unlawful terminations and the impact of recent court decisions at Blitman & King's 22nd Annual Labor & Employment Seminar. The discussion included the continued impact of the U.S. Supreme Court's decision holding that verbal complaint may support a claim for retaliation under the Fair Labor Standards Act (FLSA).
Understanding the ABC’s of Taxing Stock-Based CompensationUnlawful Terminations and the Impact of Recent Court Decisions | Employment Law & Employee Benefits
Employees, in particular executives, may be covered by a wide range of compensation arrangements. These compensation arrangements may involve, for example, tax-qualified pension and retirement plans, health and welfare plans, nonqualified deferred compensation, life insurance and stock-based compensation. The federal income taxation of stock-based compensation is complex. Minor structural differences can dramatically change the tax […]
Blitman & King Successfully Represents a Group of Approximately 60 Retirees Before PBGC
Recently we successfully represented a group of approximately 60 retirees before the Pension Benefit Guaranty Corporation (“PBGC”). The PBGC had significantly reduced the pensions of the group due to a Plan Amendment that allegedly increased benefits within five years of Plan termination – – a violation of PBGC rules. Based on lengthy negotiations between this […]
Are your severance benefits subject to ERISA?
The provision of severance benefits may constitute an ERISA plan and therefore such arrangements may be subject to the statute's requirements. Although case law provides guidance to employers, ultimately the facts and circumstances of the particular severance arrangement will dictate ERISA’s application. While severance arrangements that provide ongoing benefits to a number of employees will very likely be treated as a plan subject to ERISA, other severance arrangements pursuant to employment or severance agreements may or may not be subject to ERISA.
Social Media Activities May Be Concerted/Protected Activity Under Labor Law | Employment Law
Jules Smith, a partner in the Labor & Employment Practice of Blitman & King, recently discussed the latest pronouncements of the National Labor Relations concerning employer applications of rules restricting employee use of Social Media, which are generally measured against the rights contained in Section 7 of the National Labor Relations Act. Section 7 provides that employees not only […]
Judge OKs JPMorgan Chase’s Settlement Of Unpaid Overtime Lawsuit for $42 Million
A federal judge approved Oct. 11 a $42 million settlement between JPMorgan Chase & Co. and a class of approximately 3,800 loan processors regarding overtime pay claims under the Fair Labor Standards Act and state law (Davis v. J.P. Morgan Chase & Co., W.D.N.Y., No. 01-6492, final approval of settlement 10/11/11). Judge David Larimer of […]
Company Faces Class-Action COBRA Lawsuit
A former employee has sued Brunel Energy Inc. for failure to notify her of her right to maintain her health insurance coverage after she voluntarily separated from service in 2010 and her attorneys have proposed to bring the lawsuit as a class-action that could involve hundreds of other former employees.
Health Care Reform May Impact Your Employment and Severance Agreements
Executives should be aware of the new application of nondiscrimination rules under the Patient Protection and Affordable Care Act of 2010, as amended (“PPACA” or “Act”)—commonly known as health care reform—that will prevent highly compensated employees from being rewarded with more favorable eligibility terms or richer benefit levels in connection with health insurance.