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The CARES Act of 2020: Key COVID-19 Relief Provisions Impacting Your Employer-Sponsored Benefit Plans (US)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, enacted and sent to the President for his signature on March 27, 2020, is bipartisan legislation providing more than US$2 trillion in relief for both companies and families affected by the coronavirus disease 2019 (COVID-19) pandemic. It includes a number of provisions designed to … Continue Reading

Changes in Polish employment laws bring new costs:benefits equation

This Autumn brings quite a few changes for Polish employers. Not only do new pension plans called PPK (Pracownicze Plany Kapitałowe) became a reality for the biggest Polish employers in the fourth quarter of 2019, but the Labour Code and Code of Civil Procedure see changes too. Some of them result in a need to … Continue Reading

The DOL Fiduciary Rule: Are Commission Structures for Retirement Investment Advisers a Thing of the Past?

On Wednesday, February 9, a Texas federal judge upheld the U.S. Department of Labor’s (DOL) controversial fiduciary rule for retirement investment advisers — just hours after the agency had asked to stay the case in light of President Donald Trump’s directive to it on February 3rd to conduct an “economic and legal analysis” of the … Continue Reading

UK Autumn Budget Statement 2014 – salary sacrifice

Within the detail of the Autumn Statement yesterday, George Osborne said measures would be taken to prevent, “payments of benefits in lieu of salary”. HM Treasury also said that tax relief would be prevented on reimbursed business expenses where they are paid in conjunction with a salary sacrifice scheme. Not unusually, it is unclear at … Continue Reading

Reasons to be Cheerful (in UK Pensions) – Part One

The last few years have presented numerous challenges for sponsors and trustees of UK pension plans – from ever growing deficits in defined benefit (DB) arrangements to the significant compliance challenges of auto-enrolment – there has been much to frown about. Could 2014 be different?  In a series of blog posts we will highlight the … Continue Reading

Auto-enrolment – a last-minute guide for UK employers: Part 4

If you’ve been keeping up with my pensions auto-enrolment posts over the last few weeks you will now officially be able to call yourself an expert on the subject*.  In honour of this, I’ve put together a short quiz based on some interesting auto-enrolment facts and figures you might not be aware of. The answers … Continue Reading

Auto-enrolment – a last-minute guide for UK employers: Part 3

The obligation to enrol employees into a ‘qualifying scheme’ applies (unless an exception applies) to employers with one worker as much as it does to those with 200,000. Thankfully, the Government has realised that it would be difficult for a very small company to offer the same pension arrangement as a multinational corporation. Consequently, a … Continue Reading

Auto-enrolment – a last-minute guide for UK employers: Part 2

Here’s a puzzle: so you’ve pulled some strings and booked Dolly Parton to come and perform in a one month tour of your UK offices over the Christmas period.  Does this mean you’d have to auto-enrol Dolly in your pension scheme? Employers’ auto-enrolment obligations apply to ‘workers’.  That means anyone with a contract of employment … Continue Reading

Auto-enrolment – a last-minute guide for UK employers: Part 1

In not quite breaking news: on October 2012 a long-heralded employer duty was introduced into UK law, under which employers must automatically enroll workers into suitable pension plans and pay contributions into those plans. Though at the time placing one’s head firmly in the sand might have been very tempting, the new law is now … Continue Reading