PBGC Coverage May No Longer Apply to Puerto Rico-Only Qualified Retirement Plans

Employers that sponsor defined benefit qualified retirement plans benefiting only Puerto Rico employees should be aware that Pension Benefit Guaranty Corporation (PBGC) coverage may no longer apply. ...
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UK Employment Alert: New Right To Time Off To Accompany A Pregnant Woman To Antenatal Appointments

From today, 1 October 2014, employees and agency workers who have a “qualifying relationship” with a pregnant woman or her expected child are entitled to take unpaid time off during working hours to...
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PBGC Intends to Monitor Lump-sum and Annuity Cashouts Under Defined Benefit Plans

The Pension Benefit Guaranty Corporation (PBGC) stated in a filing published in the Federal Register on September 23, 2014, that it intends to require that plan sponsors report to the PBGC “certain...
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New Money Market Fund Rules Require Review by Retirement Plan Sponsors

The U.S. Securities and Exchange Commission recently amended the rules governing money market funds in an effort to increase the stability and liquidity of these funds in times of economic stress. Sponsors...
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Tax Prepayment Window Closes on October 31, 2014, for Puerto Rico Retirement Plans

On July 1, 2014, Puerto Rico adopted new legislation (Tax Act 77), which provides a window from July 1, 2014 – October 31, 2014, for participants in Puerto Rico retirement plans to prepay at reduced...
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German Employment News: German Employer’s Obligation to Compensate for Break Times if Break Times Have Not Been Properly Allocated

The Regional Labour Court of Cologne (Regional Court) stated in a decision in late November 2013 that a German employer has the obligation to allocate break times of employees in an orderly manner, and...
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Senate Unanimously Approves Bill Modifying ERISA Section 4062(e)

On September 16, 2014, the United States Senate unanimously approved Senate Bill 2511, which would amend Section 4062(e) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), to clarify...
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Protecting Your UK Business Against Departing Employees

Departing employees can represent a significant threat to UK business.  This is particularly so in the case of senior managers and employees who have access to confidential information or who exert influence...
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Wearable Technologies Are Here To Stay: Here’s How the Workplace Can Prepare

More than a decade ago, “dual use” devices (i.e., one device used for both work and personal reasons) began creeping into workplaces around the globe.  Some employees insisted on bringing fancy new...
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Cracking the Code: Taxing Developments in Benefit Compliance

When a nonqualified deferred compensation plan qualifies as a “top-hat” plan under the regulations of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the benefits of...
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