Member Articles

On December 4, 2023, New York City Mayor Eric Adams signed into law the New York City Council’s bill, Int 0569-2022 (the “City Law”). The bill, known as the “Workers’ Bill of Rights,” will require New York City employers to abide by certain notice and distribution requirements by July 1, 2024. The notice and distribution requirements will inform employees and independent contractors of their rights under federal, state, and local law ...

Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0.  PLESAs were first permitted to be made available to participants as of January 1, 2024.  PLESAs, which provide a flexible savings opportunity for non-highly compensated employees, can be added to certain defined contribution plans.  New guidance regarding this option has been released, which may be of interest to employers and plan sponsors ...

As noted in our May 3, 2023 and August 14, 2023 client alerts, Congress enacted the Pregnant Workers Fairness Act (PWFA) in late 2022, expanding protections for pregnant workers. Pursuant to the Act, the Equal Employment Opportunity Commission (EEOC) was directed to make rules to implement the statute. On April 15, 2024, the EEOC issued its final rule and interpretive guidance, which will go into effect on June 18, 2024 ...

Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section 401(a)(9) (“Required Minimum Distributions” or “RMDs”).  The changes related to the RMD ‘10-Year Rule’ (summarized in greater detail below) have proven to be particularly difficult to interpret ...