As we previously reported, the American Rescue Plan Act of 2021 (ARPA) was signed into law on March 11, 2021, requiring, among other things, the Pension Benefit Guaranty Corporation (PBGC) to issue its implementing regulations by July 9, 2021. As promised, PBGC issued an interim final rule, 86 Fed. Reg. 36598 (July 12, 2021) (the IFR), on a major element of the rescue plan―the Special Financial Assistance Program (SFA)―intended to provide a one-time payment to the estimated 200 most financially troubled multiemployer pension plans to help them survive and pay pensions through 2051. These 200 plans are a subset of the total of approximately 1,400 multiemployer pension plans covered by the ERISA insurance program. The IRS simultaneously issued Notice 2021-38 to provide guidance on how the SFA impacts minimum funding, as well as the reinstatement of certain suspended benefits by plans that receive the SFA.
Financial Assistance to Troubled Multiemployer Pension Plans: Initial ARPA Regulation
Ryan W. Gardner Joins Howard & Howard
Chicago, Ill., September 7, 2021 – Royal Oak, Mich.-based Howard & Howard is pleased to welcome Ryan W. Gardner to the firm. He joins a thriving Trust and Estate Planning Group and will continue his practice out of the firm’s Chicago office.
“I counsel individuals, families, and business owners on estate planning, asset protection, and business succession.” –Ryan W. Gardner
Time Is Money: A Quick Wage-Hour Tip on … Compensating Domestic Workers in New York
Many New York families employ domestic workers –individuals who care for a child, serve as a companion for a sick, convalescing or elderly person, or provide housekeeping or any other domestic service. They may be unaware of federal and New York requirements that guarantee those domestic workers minimum wage for all hours worked, paid meal breaks, and overtime compensation.
In addition, New York imposes specific requirements on employers regarding initial pay notices, pay frequency, and pay statements that also apply to persons who employ domestic workers.
How Zoom Fatigue May Be Blocking Your Relationship Development Efforts (And How to Fix It)
“I just can’t do one more online meeting. “
“You can’t get business that way.”
“My clients need me more.”
Have you ever said, or thought, any of these things about a virtual event or while involved in a conference organization during the pandemic? It’s not the first time I’ve heard them, which is why they merit a mention here.
When you say these things out loud or to yourself, it’s likely that your first reaction is that you’re fed up, the organization is faulty, or you’ll just hang on until things get back to “normal.” But consider for just a moment that maybe the networking barrier in these scenarios is actually you.
E-LEGAL® NEWSLETTER – AUGUST 2021
I. EDITORIAL – DIRECTIVE (EU) 2019/1153 AND GENERAL REGIME FOR CREDIT INSTITUTIONS AND FINANCIAL COMPANIES; LEGAL REGIME FOR VENTURE CAPITAL, SOCIAL ENTREPRENEURSHIP AND SPECIALISED INVESTMENT
The month of August was characterised, in legislative terms, by the approval and publication of the Law no. 54/2021, of August 13, which transposed into national law Directive (EU) 2019/1153, which sets out rules to facilitate the use of information for the prevention, detection, investigation or prosecution of criminal offences, and also amended the General Framework of Credit Institutions and Financial Companies. On the other hand, we highlight Decree-Law no. 72/2021, of August 16, which amended the Legal Framework for Venture Capital, Social Entrepreneurship and Specialised Investment, revised the framework applicable to the venture capital investment activity and also amended Decree-Law no. 77/2017 of June 30, which creates measures to boost the capital market, with a view to diversifying corporate financing sources. Read more…
Tiffany L. Carpenter Named to 2021 Class of 40 Illinois Attorneys Under Forty to Watch by Chicago Daily Law Bulletin and Chicago Lawyer
Royal Oak, Mich., September 2, 2021 – Royal Oak, Mich.-based Howard & Howard is proud to congratulate Tiffany L. Carpenter on her selection to the 22nd annual edition of 40 Illinois Attorneys Under Forty to Watch. Since 2000, 40 Under Forty has recognized more than 700 attorneys for their accomplishments and giving back to the community through civic or pro bono efforts. This year, over 1,000 nominations were received. Nominees are recommended by their peers and chosen for the honor by the Chicago Daily Law Bulletin and Chicago Lawyer selection committee.
Rainmaking Recommendation from Jaimie Field: You Still Have Time
Join us for this week’s rainmaking recommendation from trainer and coach, Jaimie Field.
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It’s the first day of September.
Let me repeat that in case you missed it – IT. IS. THE. FIRST. DAY. OF. SEPTEMBER!
I don’t know about you, but this year seems to be flying by faster than most. I am not sure if it is the fact that we are still dealing with a pandemic or if, as you get older, the days seem to evaporate, but I want to remind you that there are four months left to this year. You still have time to make this your best year in terms of business development, but you will have to do the work.
The Department of Justice (“DOJ”) Continues its Medicare Advantage (“MA”) Enforcement Efforts with a $90 Million Dollar Settlement Against Downstream Provider Sutter Health
On August 30, 2021, the DOJ announced a $90 million dollar settlement with Sutter Health and affiliates[1] (“Sutter Health”) to settle False Claims Act (“FCA”) allegations brought by qui tam relator, Kathy Ormsby, related to the Center for Medicare & Medicaid Services’ (“CMS”) MA Program.[2] Sutter Health elected to settle with DOJ and the relator without an admission of liability. As part of the Settlement Agreement, the Office of Inspector General (“OIG”) required Sutter Health to enter into a Corporate Integrity Agreement.
Too soon to know the fate of tax increases attached to proposed budget bill
It is too soon to breathe a sigh of relief when it comes to tax increases attached to the budget reconciliation bill that has been introduced.
On August 24, 2021, the House of Representatives approved the framework of a $3.5 trillion budget reconciliation bill, but did not act on the $1.2 trillion Infrastructure Investment and Jobs Act. These bills had been stalemated because of disagreements over simultaneous passage, but House Speaker Nancy Pelosi indicated an intent to pass both by the end of September. The infrastructure bill, which does not include any tax increases and has already passed the Senate, would then be ready for enactment with the president’s signature. Read more…
Paid leave rights once again front and center as COVID variants spike
As students across the country are returning to the classroom, the spike in the COVID Delta variant is reigniting the conversation about a need for paid sick leave for working parents who are forced to deal with school closures.
Working parents face a very uncertain future with regard to their leave rights as COVID and its variants pose a real threat to require home schooled learning yet again, as recently reported by Bloomberg Law. In fact, at the time of publishing, several states are already implementing school shut-downs related to COVID and its variants, including Arizona, Florida, Georgia, Illinois, Texas, and Virginia. Read more…
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