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“Top hat plans” —non-qualified deferred compensation plans that can be exempt from most of the requirements of Employee Retirement Income Security Act of 1974 or ERISA—can be a useful tool for employers looking to provide deferred compensation benefits to certain key employees. However, care must be taken to ensure compliance with the relevant requirements of ERISA and Section 409A of the Internal Revenue Code. Darren Goodman, Megan Monson, and Jessica I. Kriegsfeld of Lowenstein’s Executive Compensation and Employee Benefits Group discuss how to structure such plans to make them compliant.
Speakers:
Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefits -
On the latest episode of Just Compensation, Lowenstein’s Darren Goodman, Megan Monson, and Jessica Kriegsfeld of the Executive Compensation, Employment and Benefits practice discuss how the structure of an M&A transaction can influence the treatment of the existing workforce and treatment of employee benefits such as outstanding equity awards, health and welfare plans, and retirement plans.
Speakers:
Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefits -
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In this episode of "Just Compensation," Megan Monson, Amy Komoroski Wiwi, and Amy C. Schwind discuss the evolving landscape of employment-related non-compete agreements, focusing on recent legal developments. The discussion highlights the Federal Trade Commission's recent decision to ban post-employment non-compete clauses and its implications for businesses nationwide, as well as several noteworthy state-level updates over the past six months and how these changes might impact employers and employees.
Speakers:
Megan Monson, Partner, Executive Compensation and Employee Benefits
Amy Komoroski Wiwi, Partner, Employment
Amy C. Schwind, Counsel, Employment -
In today’s episode, Andrew E. Graw, Megan Monson, and Jessica I. Kriegsfeld address the U.S. Department of Labor’s final amendment to Prohibited Transaction Class Exemption 84-14, commonly known as the QPAM exemption, and its implications for investment managers. The hosts explore the current QPAM exemption, the modifications introduced by the final amendment, and the key takeaways for investment managers to ensure compliance and maintain their QPAM status.
Speakers:
Andrew E. Graw, Partner and Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Executive Compensation and Employee Benefits
Jessica I. Kriegsfeld, Associate, Executive Compensation and Employee Benefits -
On this episode of “Just Compensation,” the hosts provide an introduction into Section 409A, the complicated tax code provision that governs non-qualified deferred compensation: when does it apply, how do you comply with it, what are the exceptions, and what are the implications of noncompliance?
Speakers:
Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Megan Monson, Partner, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Executive Compensation and Employee Benefit -
On this episode of “Just Compensation,” Darren Goodman, Sophia Mokotoff, and Taryn E. Cannataro discuss equity compensation that can be issued by partnerships, with a special focus on profits interests. Profits interests are very commonly used by partnerships due to their flexibility in structuring and advantageous tax treatment. The lawyers explain the pros and cons of such arrangements.
Speakers:
Darren Goodman, Vice Chair, Executive Compensation and Employee Benefits
Sophia Mokotoff, Partner, Tax
Taryn E. Cannataro, Counsel, Executive Compensation and Employee Benefits -
Andrew Graw, Taryn Cannataro, and Jessica Kriegsfield of Lowenstein Sandler's Employee Benefits and Executive Compensation Practice Group address multi-employer pension plans in the context of a business transaction, providing listeners with an overview of considerations and areas of potential liability plus tips on how to mitigate these issues. A multi-employer plan is comprised of various unrelated employers who make contributions on behalf of a unionized workforce; these contributions are based on a collective bargaining agreement, so failure to make those contributions or certain types of withdrawals can result in liability for the acquirer or the target. The lawyers advise inquiring about the funding status of the plan, considering the impact of changes in the workforce post-closing, and addressing potential withdrawal liability in the purchase agreement before closing a business transaction when a multi-employer plan is involved.
Speakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
On the latest episode of “Just Compensation,” Andrew E. Graw, Taryn E. Cannataro, and Jessica I. Kriegsfeld address single-employer defined benefit plans in the context of a business transaction, and the potential liabilities inherent in maintaining the plan post-closing as well prior to the closing— especially in light of how well funded the plan is. They discuss who bears the liability for a defined benefit plan in a transaction, and what an acquirer can do to mitigate the pension liability.
Speakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
Today on “Just Compensation,” Darren Goodman, Megan Monson, and Taryn E. Cannataro of Lowenstein's Employee Benefits & Executive Compensation group are joined by Sophia Mokotoff, partner in the firm’s Tax group, to discuss Internal Revenue Code Section 457A, a complicated provision of the tax code which regulates deferred compensation from certain non-US entities. The lawyers provide a high level overview of 457A and when it applies, so that companies and individuals know its potential impact.
Speakers:
Darren Goodman, Vice Chair, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Sophia Mokotoff, Partner, Tax
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation -
In today’s episode of “Just Compensation,” Kate Basmagian, partner in Lowenstein’s Capital Markets & Securities group and chair of the firm's ESG group; Christine Osvald-Mruz, partner in the Employee Benefits & Executive Compensation group; and associate Jessica I. Kriegsfield discuss the new NASDAQ and NYSE clawback policy requirements, including the new listing standards, what companies must include in their clawback policies, and what companies should do now.
Speakers:
Kate Basmagian, Partner, Chair, ESG Practice
Christine Osvald-Mruz, Partner, Employee Benefits & Executive Compensation
Jessica I. Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
A well-thought-out hiring process can help companies not only attract and retain top talent, but it can also ensure that companies meet legal obligations, obtain necessary protections, and avoid costly mistakes. In this episode of Just Compensation: Lowenstein’s Employee Benefits & Executive Compensation Podcast, Megan Monson, Julie Levinson Werner, Taryn E. Cannataro, and Amy C. Schwind discuss best practices for onboarding new employees, and recent legal developments that may impact how a company approaches this process. The attorneys give an overview of documentation that should be in place before hiring new employees, such as offer letters, restrictive covenant agreements, employment policies, and an employee handbook, as well as state-specific forms regarding such issues as taxes, direct deposit authorizations, and electronic monitoring; they also explain the importance of correctly classifying employees as either exempt or nonexempt, and the possible penalties for failing to comply with these and other wage and hour requirements.
Speakers:
Megan Monson, Partner, Employee Benefits & Executive Compensation
Julie Levinson Werner, Partner, Employment Counseling & Litigation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Amy C. Schwind, Counsel, Employment Counseling & Litigation -
Today on Just Compensation, Megan Monson, Julie Levinson Werner, Taryn E. Cannataro, and Amy C. Schwind discuss some of the issues an employer must consider as the workforce becomes increasingly remote. They recommend that employers set clear expectations on issues such as hours and availability for employees who work from home, and they encourage employers to be aware of compliance issues arising from such state specific requirements such as non-competes, benefits, wage and hour laws, and reporting obligations.
Speakers:
Megan Monson, Partner, Employee Benefits & Executive Compensation
Julie Levinson Werner, Partner, Employment Counseling & Litigation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Amy C. Schwind, Counsel, Employment Counseling & Litigation -
Megan Monson, Amy Komoroski Wiwi, and Jessica I. Kriegsfeld talk about recent developments and trends in the law relating to employment-related non-competition agreements, including a proposed federal rule that could significantly limit their use. They also explore potential ideas and workarounds for employers to consider in place of non-competes in order to provide protection to a company.
Note: Since the time of recording this episode, NY law has now passed both the senate and assembly.
Speakers:
Megan Monson, Partner, Employee Benefits & Executive Compensation
Amy Wiwi, Partner, Employment Counseling & Litigation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
Andrew E. Graw, Megan Monson, Jessica Kriegsfeld discuss the SECURE 2.0 Act and some of the retirement plan changes it will create in 2023 and beyond, such as raising the age for taking required minimum distributions from tax-qualified plans; mandating automatic enrollment; and increasing the catch-up contribution limit. The lawyers explain the public policy behind the changes— to increase retirement plan savings as well as the number of people participating in 401Ks, —and reiterate the importance of employers providing information that allows employees to make educated decisions about their retirement plan savings and deferral elections.
Episode Resource:
SECURE 2.0 Legislation: Impact on Qualified Plans (EBEN) | Lowenstein Sandler LLPSpeakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
The latest “Just Compensation” podcast features Megan Monson, Taryn E. Cannataro, and Jessica Kriegsfeld of Lowenstein’s Employee Benefits & Executive Compensation group describing some of the benefits-related considerations of which buyers should be aware in transactions involving an entity that uses a professional employer organization or PEO. Many companies use PEOs to handle HR tasks such as payroll; however, acquiring a company that uses a PEO may require a different approach for deal documentation and consideration on the go-forward status of health/welfare and retirement plans, including understanding procedural requirements and limitations, to name a few—all of which could cause unexpected delays and administrative burdens.
Episode Resources:
401k Plan Considerations in M&A Transactions Acquiring a Company That Uses a Professional Employer Org.Speakers:
Megan Monson, Partner, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
In this edition of “Just Compensation,” Andrew E. Graw, Chair of Lowenstein’s Employee Benefits & Executive Compensation practice, talks with partner Megan Monson and counsel Taryn E. Cannataro about 401(k) plan considerations in the context of mergers and acquisitions. They address potential alternatives on what to do with a target’s 401(k) plan (if anything) in a transaction, including some pros/cons of each approach; specific considerations for 401(k) plans that vary based upon deal structure; the 401(k) plan termination process; and the importance of employee messaging related to 401(k) plan treatment.
Speakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation -
In this episode, the hosts discuss how companies can structure “in-the-money” stock options in order to avoid violating IRS rules governing non-qualified deferred compensation. They also address the benefits and potential downsides to this kind of option and what companies should know if they’re looking to grant them.
Speakers:
Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation -
Lately, more and more companies are unfortunately finding themselves in a situation where they need to lay off part of their workforce. This discussion outlines some of the high-level considerations to keep in mind as companies navigate this process, including whether to offer the impacted employees’ severance or other benefits like extended COBRA; whether the company should require employees to sign a release in connection with severance offer, and if there is any risk of violating the ADEA, WARN Act, or other protective state or federal statutes.
The panelists also address extending the post-termination period during which an employee might be eligible to exercise vested stock options, and the PR ramifications of layoffs.
Speakers:
Megan Monson, Partner, Employee Benefits & Executive Compensation
Julie Levinson Werner, Partner, Employment Counseling & Litigation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation -
Darren Goodman, Megan Monson, and Taryn E. Cannataro of Lowenstein’s Executive Compensation & Employee Benefits Group discuss what companies can or should do if stock options are about to expire, which is a particular concern in today’s uncertain economic climate.
Speakers:
Darren Goodman, Partner, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Taryn E. Cannataro, Counsel, Employee Benefits & Executive Compensation -
Darren Goodman and Taryn Cannataro of Lowenstein’s Employee Benefits and Executive Compensation group are joined by guest Eric Weiner, partner in the firm’s Tech Group and the Co-Chair of Lowenstein Crypto to discuss a hot topic and emerging trend in executive compensation: cryptocurrency and token issuances. Despite the recent downturn in the crypto markets, we have continued to see crypto employers granting tokens to incentivize their employees. This podcast episode provides a brief overview of the various forms of token issuances, how token awards differ from equity awards from a tax perspective, and considerations to keep in mind if you plan to grant tokens to employees.
Speakers:
Darren Goodman, Partner, Employee Benefits & Executive Compensation
Eric Weiner, Partner, Tech Group and Co-Chair of Lowenstein Crypto
Taryn E. Cannataro, Associate, Employee Benefits & Executive Compensation - もっと表示する
