Lindabury, McCormick, Estabrook & Cooper, P.C. Firm News & Events
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.
Employee Benefits Articles by Elizabeth Engert Manzo
Employee Benefits Provisions of the CARES Act
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:
Medical Marijuana and Employee Benefit Funds
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.
Withdrawal Liability Primer
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).