Category Archives: Employee Benefits

403(b) PLAN EMPLOYERS MUST ACT SOON

By Sheppard Mullin on May 15, 2008 Posted in Employee Benefits

Section 403(b) annuity plans have historically been governed by a hodgepodge of Internal Revenue Service ("IRS") rulings and regulations dating back to 1964. In 2007, however, the IRS finalized new, comprehensive regulations that are generally effective January 1, 2009. Schools and tax-exempt employers that maintain 403(b) plans and their advisors must thoroughly review and revise … Continue Reading

San Francisco Voters Mandate Paid Sick Leave for Employees

By Sheppard Mullin on November 11, 2006 Posted in Employee Benefits

Voters in San Francisco approved a ballot measure mandating paid sick leave for all employees who work within the geographical boundaries of the city. The measure requires employers in San Francisco to provide 1 hour of sick leave for every 30 hours worked. Employees working for small employers (fewer than 10 employees) are allowed to … Continue Reading

Federal Litigators Face New Burdens in E-Data Discovery

By Sheppard Mullin on October 12, 2006 Posted in Americans With Disabilities Act ("ADA"), Discrimination, Employee Benefits, FEHA, Hiring, Discipline, Termination, Non-Competition Covenants, Termination

Click here to view a PDF copy of the document.… Continue Reading

IRS Extends Deadlines for IRC 409A

By Sheppard Mullin on October 5, 2006 Posted in Employee Benefits

The IRS just issued Notice 2006-79, which provides transition relief from the December 31, 2006 deadlines of IRC 409A. Specifically, this Notice provides further transition relief by:… Continue Reading

401(k) Plan Fee Class Action Lawsuits

By Sheppard Mullin on September 25, 2006 Posted in Employee Benefits

A number of class action lawsuits were recently filed over investment-related fees paid by 401(k) plans, targeting 401(k) plans of large employers. These complaints allege a variety of breaches of fiduciary duties and prohibited transactions resulting from excessive administration and management fees and improper fee sharing arrangements with mutual fund companies and other investment providers … Continue Reading

It’s Time to Establish a Deferred Compensation Action Plan

By Sheppard Mullin on August 12, 2005 Posted in Employee Benefits

Section 409A was added to the Internal Revenue Code by the American Jobs Creation Act of 2004, and is generally effective as of January 1, 2005. Section 409A adds a number of complex new rules for nonqualified deferred compensation plans, and imposes severe tax penalties for noncompliance. These new rules were summarized in our November … Continue Reading