BW INSIGHTS

Recent Challenges to Plan Forfeitures

By Caleb J. Brus | 05.24.2024

Recent lawsuits are challenging 401(k) plan sponsors’ use of forfeitures to reduce employer contributions. Such practice is a long-standing precedent permitted by the Internal Revenue Service “IRS.” Plaintiffs in these suits claim that the decision on how to apply forfeitures is a fiduciary determination. The plaintiffs further allege it is a... Read More

Understanding ERISA Fiduciary Duties

By Caleb J. Brus | 05.17.2024

The Employee Retirement Income Security Act (“ERISA”) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry. ERISA provides protection for individuals in such plans. Central to ERISA is the concept of fiduciary duty, which mandates that those managing and controlling plan... Read More

FTC Publishes Final Rule Banning Non-Competes

By Julie Solis-Alvarado | 05.08.2024

On May 7, 2024, the Federal Trade Commission (FTC) published a Final Rule banning most post-employment non-competes. The Final Rule becomes effective on September 4, 2024. While the Final Rule faces statutory and constitutional challenges which may potentially delay and even halt the Effective date, employers should still take steps to become... Read More

Celebrating Sam Long: #1 Professional Triathlete in the World

By BrownWinick | 05.08.2024

The BrownWinick Law Firm is delighted to celebrate client and professional triathlete, Sam Long, who achieved the remarkable feat of attaining the #1 world ranking according to the Professional Triathletes Organisation. His dedication, resilience, and unwavering commitment to excellence have cemented his place as a global leader in triathlon, and... Read More

Final DOL Fiduciary Rule

By Caleb J. Brus & Cynthia Boyle Lande | 04.26.2024

On April 23, 2024, the Department of Labor (“DOL”) released its new fiduciary investment advice rule titled the “Retirement Security Rule” (the “Fiduciary Rule”). The Final Rule is scheduled to take effect September 22, 2024. The changes to exemptions PTE 2020-02 and PTE 84-24 will have an additional one-year transition period where exemptive... Read More

The FTC Votes to Ban Non-Compete Agreements

By Julie Solis-Alvarado | 04.24.2024

In a 3-2 vote, the Federal Trade Commission (“FTC”) issued a new rule (the “Final Rule”) on April 23, 2024, banning virtually all post-employment non-competes in employee-employer contracts. In a highly anticipated decision, the FTC found that non-compete agreements between an employer and employee are unfair competition violating section 5 of the... Read More

EEOC Adopts Expansive Final PWFA Rule

By Becca E. Coleman | 04.22.2024

At the end of 2022, President Biden signed the Pregnant Workers Fairness Act (PWFA) into law. The Act, among other things, requires employers to offer reasonable workplace accommodations to workers who are pregnant, or have a condition related to pregnancy or childbirth, unless the accommodation would cause the business an undue hardship. The law... Read More

Examining OSHA's Walkaround Rule

By Benjamin Merrill | 04.19.2024

In a recent development, the Occupational Safety and Health Administration (OSHA) has finalized a contentious proposed rule regarding the Worker Walkaround Representative Designation Process. Set to take effect on May 31, 2024, this rule has sparked considerable debate, particularly within the manufacturing sector and among legal experts. What is... Read More

Major Economic Growth Attraction (MEGA) Program Passes Iowa Legislation

By Rebekah Jalilian-Nosraty | 04.17.2024

Businesses are invited to invest in Iowa by Iowa Legislators. The Major Economic Growth Attraction program (MEGA program) passed yesterday (4/16) with a vote of 47 yeas and 0 nays . The program offers tax incentives for businesses making capital investments and creating jobs in Iowa. Qualified businesses may receive a tax credit for withholding... Read More

Government Relations Legislative Update - Week Fourteen

By Matthew H. McKinney & Julie A. Smith | 04.15.2024

On Thursday, the first appropriations bill of the year passed one chamber. Kind of like seeing a robin in winter…you know that sine die (spring) is getting closer. This week also saw a lot of action in subcommittees and Appropriations Committees. Although the Senate and House have agreed within their Chambers on targeted amounts for the various... Read More