On May 21, 2020, the U.S. Department of Labor (“DOL”) announced a final rule allowing employers to post retirement plan disclosures online or furnish them to workers via email. The rule is aimed at reducing administrative expenses for employers and making information more readily available to workers. ERISA-covered retirement plans…
Will your assets pass to family if you die without a Will in New Jersey? Not necessarily. In some cases, a decedent’s property can actually escheat, or revert, to the State of New Jersey when the decedent has living relatives. The only way to ensure that your property is distributed…
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 April 1, 2020 James Estabrook and Kathleen Connelly of the firm’s Labor & Employment group hosted a webinar discussion for members of the Northern New Jersey and Southern New Jersey chapters of the National Electrical Contractors Association. The webinar addressed questions regarding employee leave rights and benefits under the…
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…
As our clients age they often tell us they do not feel comfortable with their ability to continue to manage their financial affairs. They also express the unfounded fear that upon their death all their bank accounts will be frozen for months on end with no ability for anyone to…
Years of experience in administering estates have taught us that the best way to avoid litigation after death is to plan during life. We have come to identify several “red flags” that, when not addressed during estate planning, are more often than not resolved in a courtroom. Not only does…
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…