The Department of Labor (“DOL”) and other federal agencies released updated model COBRA notices and expanded COBRA deadlines in an effort to reduce the risk of participants and beneficiaries losing benefits during the COVID-19 pandemic. Updated Model COBRA Notices Under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), an individual who…
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed into law on Friday March 27, 2020, introduced the Paycheck Protection Program (the “PPP”) with the intended goal of preventing job loss and small businesses failure due to losses caused by the COVID-19 pandemic. The PPP was designed to…
As part of Lindabury’s work with the Mechanical Contractors Association of New York, James Estabrook and Elizabeth Engret Manzo have authored guidance on COVID-19 related leave under New York state law. You can download a copy of the guidance here.
On March 27, 2020, the Coronavirus, Aid, Relief and Economic Security Act (the “CARES” Act) was passed, making it the third federal law to address the coronavirus (COVID-19) public health pandemic. The Act, designed to provide additional relief to those affected by the pandemic, contains multiple provisions that specifically implicate…
In May 2019 Employee Benefits Shareholder Elizabeth Manzo spoke at the International Foundation of Employee Benefits Plans’ Heatlhcare Management Conference on the topic of medical marijuana and how changes in state laws will impact employers and benefit funds. Kenneth Corbin wrote an overview of Elizabeth’s presentation for Employee Benefit News…
What is Withdrawal Liability? Withdrawal liability only accrues when the employer has contributed to a defined benefit (DB) plan and the DB plan is not fully funded. It is equal to the employer’s share of a DB plan’s Unfunded Vested Benefits (UVB). Liability is triggered upon complete, partial or mass…