Category Archives: Retirement & Compensation

ERIC Victory: PBGC Follows ERIC Request to Reconsider Guidance on Premium Relief

Yesterday, the PBGC announced that it is changing previous guidance on delayed contributions to allow greater flexibility for funding contributions delayed under the CARES Act. The restated guidance allows companies to apply payments made through January 1, 2021, to the funding balance for the prior year in calculating the variable rate premium.

State Win: COVID-19 Paid Leave Proposals Scrapped in California

Two major paid leave proposals have been defeated in California, preventing additional burdens from being placed on employers within the state. As the California 2020 state legislative session approaches an accelerated adjournment at the end of August, state legislators have opted to abandon several proposals addressing “supplemental” or “emergency” paid leave in favor of more politically feasible and expedient policies in response to the COVID-19 public health crisis.

ERIC Litigation Update: NJ WARN Act Complaint Filed in Federal Court

Today, ERIC filed a complaint against the recently amended New Jersey WARN Act with the United States District Court for the District of New Jersey. Our complaint argues that the amended Act violates federal ERISA law by imposing a series of expanded requirements that collectively force employers to implement an ongoing administrative scheme, which is the equivalent of a severance benefit plan under ERISA. Our complaint, therefore, seeks injunctive relief to halt enforcement of the amended New Jersey WARN Act.