What's Dinkin Thinkin?Elliot's bio

Can A Struggling Multi-Employer Plan Override A Collective Bargaining Agreement?

Background:After bargaining to impasse, Just Born implemented its last, best and final offer, which included a soft-freeze type provision, where contributions would be made to the Multiemployer Pension Fund (MEPP), just for existing employees, but not new hires. This decision (Just Born, 4th circuit court of appeals; April 26, 2018) requires Just Born to continue

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To Ask or Not to Ask About Prior Compensation – That is the Question

The Ninth Circuit Court of Appeals issued a recent ruling that wage disparity based on “prior salary alone or in combination with other factors” violated the Equal Pay Act (Rizo v. Yovino). The court adopted the viewpoint that the objective of the Equal Pay Act is to eliminate long-standing pay disparities, not to preserve them, going

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Voluntary Correction Program (VCP) Equivalent to Fix Violations Under the Fair Labor Standards Act (FLSA)

The Internal Revenue Service has created an Employee Plans Compliance Resolution System (EPCRS) for correcting qualified plan (e.g., Defined Benefit and Defined Contribution) errors, including Self-Correction Program (SCP), Voluntary Correction Program (VCP), and the Audit Closing Agreement Program (Audit CAP), to expedite the resolution of fixing certain operating mistakes.  These plans have been widely used

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California Supreme Court Ruling Will Result in a Higher OT Rate for Employer’s Who Pay Flat Bonuses

The California Supreme Court issued a decision on March 5, 2018 (Alvarado v. Dart Container Corp) regarding the proper method under California law to calculate nonexempt employees’ overtime rate of pay when those employees receive a flat bonus, which generally are payments that do not vary on factors such as effort or productivity.  Flat bonuses

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Why a Not-for-Profit Should Address the Tax Reform Impact on Their Total Compensation Offerings

No, I didn’t hit my head and wake up and realize that Not-For Profits (NFPs) now pay taxes.  However, as a result of the recent tax law changes, a substantial number of for-profit companies not only provided a one-time bonus, some were, also, quick to act and announced increases to:Minimum wageSalariesRetirement benefitsInvestment in training employeesNFPs

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Tax Reform Provides Another Incentive to Implement Pension Plan De-Risking Strategy

Tax reform offers another incentive for employers to consider completing a pension plan de-risking strategy in 2018. A change in the corporate tax rate will make funding pension plans sooner more appealing, which many try to do before completing a risk transfer anyway.The Tax law approved in December 2017, lowers the corporate tax rate to

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Treatment of Settlements After Tax Act

Unfortunately, the news is full of a multitude of stories regarding sexual harassment. Companies are aggressively trying to control the damages associated with these claims, while the brave victims who come forward want to protect their privacy.As part of the recently signed tax law, a new section was added to the Internal Revenue Code that

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It Is Possible to Teach An Old Dog New Tricks: New Dress Code Works for All

In the later part of 2017, our Management Team began the process of reviewing our current dress code policy.  By way of background, our historical policy was a business casual dress policy, with the ability to wear jeans on Friday.  Although we really had no major issues with this policy, we embarked upon a process

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Final Tax Bill: What’s In and What’s Out for Aspects of Executive Compensation

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA) into law. The following is a summary of the provisions:While our prior summary outlined the proposed Section 409B, this summary looks at what TCJA actually does. Generally 4098B would have taxed nonqualified deferred compensation and other incentive compensation (including stock options)

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Proposed Tax Bills: What’s In and What’s Out for Aspects of Executive Compensation

On December 2, 2017, the US Senate passed its version of the Tax Cuts and Jobs Act Bill. With respect to the executive compensation provisions, the Senate Bill, generally, aligns with the corresponding bill passed by the US House of Representatives on November 16, 2017. However, both the Senate Bill and the House Bill differ significantly

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