Employee Benefits Law Report

Tag Archives: Employee Benefits

Proposed regulation for long-term part-time employees: Plan sponsors act now

By Rich Helmreich and Greg Daugherty on
savings, money, annuity insurance, retirement and people concept - close up of senior woman hand putting coin into piggy bankEffective Jan. 1, 2024, employers who sponsor 401(k) plans must allow employees who work at least 500 hours a year over a period of consecutive years (“long-term part-time” or “LTPT employees”) to be eligible to make deferrals into the plan. This change requires immediate action by plan sponsors to change the way they administer their … Continue Reading

Workforce Due Diligence Considerations When Purchasing a Company

By Porter Wright on
While in the heat of negotiating, dealmakers can overlook potentially costly exposure in a variety of areas, such as employee benefits. As explained by Becca Kopp in our sister blog, Employer Law Report, in Ohio, buyers may incur unanticipated liability for workers’ compensation obligations, regardless of what is set forth in the documentation. This may … Continue Reading

Join Us in Cleveland or Columbus for One of Our Upcoming Seminars

By Porter Wright on
Would you like to spend a morning outside of the office, enjoying free breakfast and continuing education credit? Here's your chance! This month, Porter Wright is sponsoring Employment Relations Seminars in both Cleveland and Columbus. I will be speaking about employee benefits developments and best practices at both session, and would love to see you there. … Continue Reading

Supreme Court Time Travels with an ERISA Case

By Porter Wright on
Supreme Court decisions about ERISA cases, while infrequent, typically contain some surprises, as demonstrated most recently in CIGNA Corp. v. Amara. In 1997, CIGNA notified employees that it was freezing accruals under its traditional defined benefit plan, and converting the plan into a cash balance plan. A cash balance plan is a “hybrid” defined benefit … Continue Reading
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