The SEC adopted long-awaited final rules that require the recovery of erroneously awarded incentive-based compensation of executive officers, as required by the Dodd-Frank Act. Under Rule 10D-1, each exchange must adopt listing standards that will apply to all listed issuers, with limited exceptions. Each issuer must adopt a clawback policy
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Infrastructure Investment and Jobs Act Brings an Early End to the Employee Retention Credit
The Infrastructure Investment and Jobs Act (the “IIJA”), which was signed by President Biden on November 15, 2021, retroactively eliminates an employer’s ability to claim the employee retention credit (“ERC”) for eligible wages paid during the fourth quarter of 2021. The repeal of the ERC by the IIJA affects all…
Locke Lord QuickStudy: New Guidance Issued on What Employers Must Consider Before Charging Higher Group Medical Insurance Premiums for Unvaccinated Employees
In our September 2, 2021 QuickStudy, we outlined the various laws governing wellness plans and described how group health plans might structure a premium surcharge for employees who have not received the COVID-19 vaccine to fit within such existing rules. This week, the Departments of Labor, Health and Human Services,…
DOL Releases Model Notices and FAQs About COBRA Premium Subsidy
As discussed in our prior post, under the American Rescue Plan Act of 2021, certain individuals who are eligible for COBRA coverage as a result of an involuntary termination of employment or reduction in hours may be eligible to receive a 100% subsidy for COBRA coverage for a six-month…
DOL, HHS, and Treasury Jointly Issue FAQs on the CAA’s Mental Health and Substance Use Disorder Parity Provisions
On April 2, 2021, the Departments of Labor, Health and Human Services, and Treasury (the “Departments”) issued Frequently Asked Questions (“FAQs”) related to the implementation of the mental health and substance use disorder parity provisions under the Consolidated Appropriations Act, 2021 (“CAA”) and the Mental Health Parity and Addictions Equity…
Join Us for a Complimentary Webinar: Gearing up for Privacy & Cybersecurity in 2021
Organizations continue to face new issues, regulations and threats relating to privacy and cybersecurity. Over the next few months, Locke Lord lawyers will tackle some of your most pressing concerns in a series of complimentary webinars discussing practical, real-world challenges facing organizations, including compliance, business operations, data incidents, and investigations,…
The American Rescue Plan Act: COBRA Subsidies
Under the American Rescue Plan Act of 2021 (the “Act”), certain individuals who are eligible for COBRA coverage as a result of an involuntary termination of employment or reduction in hours may be eligible to receive a 100% subsidy for COBRA coverage for a six-month period beginning April 1, 2021…
Locke Lord QuickStudy: Initial Thoughts Regarding the IRS’ Employee Payroll Tax Deferral Guidance in IRS Notice 2020-65
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Locke Lord Partner Stefan Smith Elected to SouthWest Benefits Association Board of Directors
Dallas Partner Stefan Smith has been elected to the SouthWest Benefits Association (SWBA) Board of Directors, a regional, non-profit association designed to foster relationships and support the educational growth of professionals in employee benefits. His three-year term was effective July 1.
SWBA serves Texas, Oklahoma, Louisiana, Arkansas, Missouri and Kansas.…
Locke Lord QuickStudy: IRS Issues Helpful Guidance for Coronavirus-Related Distributions and Loans from Retirement Plans Under The Cares Act
Lori Basilico and Phil Bush review IRS Notice 2020-50 which provides helpful guidance for plan sponsors and plan participants who wish to take advantage of the enhanced distribution and loan provisions under the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
The Quickstudy is titled “IRS Issues Helpful…