The America Invents Act, passed on Sept. 16, 2011, will significantly impact the way companies do business in the United States, says David Cupar, member, McDonald Hopkins LLC.
“The act helps standardize U.S. rules with those that the rest of the world adheres to regarding patents,” says Cupar. “It will create consistency both for U.S. companies doing business internationally and for international companies and individuals seeking to do business in the U.S.”
As a follow-up to our earlier post regarding FMLA abuse, I wanted to provide a quick reminder regarding workers’ compensation leave. If an employee’s workplace injury or illness also qualifies as a serious health condition under the FMLA (and it usually will), consider counting any time away from work as a result of that condition as FMLA leave. Doing this will help to avoid situations where an employee is off work for a workers’ comp issue only to return to work with the full 12 weeks of leave available under the FMLA that can be used for non-workers’ comp conditions.
Happy Halloween everyone! Since Halloween is my second favorite holiday (after Christmas), I had to take a time out to say “enjoy!” and share a photo of my little “spooks.”
But back to the task at hand – let’s get started with Twitter. To create your profile, we’re going to start by going to Twitter.com.
Storytelling. It is an important component of a successful professional woman’s life – in the boardroom, courtroom, or classroom, in theater and the arts, in research labs, and in any place we find ourselves imparting information. Recognizing the impact and art of articulating a cogent, comprehensive, and powerful presentation in any of these forums,the Epstein Becker Green Women’s Initiative (WI) recently hosted 2011 Pulitzer Prize-winning author Amy Nutt to share with us some insights from her own successful career as a journalist on enhancing our natural ability as women to weave a set of facts into a compelling narrative. (For more information about the WI event and Ms. Nutt’s book, Shadows Bright as Glass, click here.)
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Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Thomas Büchli of our member firm Schmidt, Jaton & Associés in Geneva, Switzerland.
In one sentence, how would you describe your practice?
Our firm offers tailor-made and comprehensive solutions that also work in practice.
Who would be your typical client?
Life is so varied, that there is no typical client.
What would you like clients and potential clients to know about you?
Everything they may consider important for them to work with me.
The Department of Labor (DOL) issued final regulations which require Plan Administrators to disclose certain plan and investment-related information to participants and beneficiaries in individual account plans, including fees and expenses.
In these new regulations, the DOL has interpreted a Plan Administrator’s fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA) to include:
The defined benefit pension plan is one of the little discussed casualties of the economic and financial crisis in recent years (“Pension Plan”).
Pension Plans are subject to various funding requirements. Very simplistically, Pension Plans must utilize the services of actuaries who determine the value of the benefits that have been accrued under the Pension Plan and the level of contributions required to fund the accrued benefits. Pension Plans are defined benefit plans in that they provide a specified benefit payable to the participant, or his or her beneficiaries, beginning upon the participant’s retirement. Unlike a 401(k) Plan or a Profit Sharing Plan, which have individual investment accounts for each of the participants, a Pension Plan’s assets are held in a single pool. The sponsoring company or entity remains responsible for ensuring that sufficient assets are in the pool to pay the benefits that have been earned under the Pension Plan.
Below are the 2012 plan limitations:
2012 Retirement Plan Limits
| 2009- 2011 |
2012 | |
| 401(k), 403(b) and 457(b) Deferral Limits | $16,500 | $17,000 |
| 401(k) and 403(b) Catch-up Deferral Limits | $5,500 | $5,500 |
| Annual Limitation on Compensation | $245,000 | $250,000 |
| Defined Contribution Limitation | $49,000 | $50,000 |
| Defined Benefit Limitation | $195,000 | $200,000 |
| Highly Compensated Employee Compensation Threshold | $110,000 | $115,000 |
| Key Employee Compensation – Officer Threshold | $160,000 | $165,000 |
| SIMPLE Deduction | $11,500 | $11,500 |
| SIMPLE Catch-up Contribution | $2,500 | $2,500 |
| IRA Contribution Limit | $5,000 | $5,000 |
| IRA Catch-up Contribution Limit | $1,000 | $1,000 |
| Social Security Wage Base | $106,800 | $110,100 |
For more information, please contact:
Dale R. Vlasek
216.348.5452
dvlasek@mcdonaldhopkins.com
or any of our Employee Benefits attorneys by clicking on the link below:
Benefit programs should be a win-win for employers and employees. We strive to accomplish that goal in the design, implementation and operation of sophisticated benefit and executive compensation programs – qualified and non-qualified retirement programs and health and welfare plans. Our employee benefits team has a long track record of working to maximize the efficiency and economic feasibility of each program.
|
Chicago
312.280.0111
Fax: 312.280.8232 |
Cleveland
216.348.5400
Fax: 216.348.5474 |
Columbus
614.458.0025
Fax: 614.458.0028 |
Detroit
248.646.5070
Fax: 248.646.5075 |
Miami
1.305.704.3990
Fax: 1.305.704.3999 |
West Palm Beach
561.472.2121
Fax: 561.472.2122 |
Two new lawyers have joined TARK GRUNTE SUTKIENE – Ieva Dosinaitė, attorney-at-law specialising in corporate and commercial law who will strengthen the Banking and Finance Group, and Gailė Sakalaitė, associate attorney-at-law specialising in intellectual property, corporate and commercial.
Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Alishan Naqvee of our member firm LexCounsel Law Offices in New Delhi, India. In one sentence, how would you describe your...… Continue Reading
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