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 Families First Coronavirus Response Act (FFCRA).
You can watch and listen to a recording of the webinar on our firm’s YouTube channel 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 multiemployer plans as set forth more fully below.
Coronavirus Related Distribution
The Act allows defined contribution plans to adopt provisions allowing for early distributions, up to a maximum of $100,000, for qualified individuals who have been adversely affected by the coronavirus pandemic. Qualified individuals include the following:
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 titled, Will Medical Marijuana Become Part of Your Benefits Mix.
Many health plans might not want to touch marijuana with a 10-foot pole, but it might be time to start thinking differently about including cannabis in the benefit mix.
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).