BW INSIGHTS

Understanding ERISA Fiduciary Duties

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

Final DOL Fiduciary Rule

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

EEOC Adopts Expansive Final PWFA Rule

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

Employee Retention Credit Withdrawal Process and Voluntary Disclosure Program

The Employee Retention Credit (the “ERC”) is a refundable tax credit against payroll taxes that was created under the CARES Act to help employers and employees affected by the COVID-19 pandemic by encouraging employers to keep employees. In short, the ERC could be claimed if there was a significant decline in gross receipts over certain periods, a... Read More

IRS Issues Proposed Regulations for Long-Term Part-Time Employees

On Friday, November 24th, the IRS issued the long-awaited Proposed Treasury Regulations amending the existing Treasury Regulations for 401(k) plans and providing guidance relating to treatment of long-term part-time employees (“LTPTE”) within 401(k) plans. The LTPTE concept was codified by the Setting Every Community Up for Retirement Enhancement... Read More

BrownWinick Included in 2024 Edition of Best Laws Firms Ranked by Best®

BrownWinick is excited to announce the firm has been included in the Best Law Firms Ranked by Best® 2024 publication. Firms included in the 2024 edition of Best Law Firms® list are recognized for professional excellence with persistently impressive ratings from clients and peers. Achieving a tiered ranking signals a unique combination of quality... Read More

The NLRB Issues a Final Rule Regarding The Joint-Employer Standard

On October 26, 2023, the National Labor Relations Board issued a final rule addressing how to determine whether two employers have joint-employer status. The final rule introduced a broadened standard as to who may classify as a joint-employer. The new standard will go into effect on December 26, 2023. A “New” Standard The final rule establishes... Read More

Proposed Overtime Rule: What Employers Need to Know

The U.S. Department of Labor is shaking up the employment landscape with a proposed rule that’s set to benefit approximately 3.6 million salaried workers. This rule, proposed on August 30, 2023, seeks to expand overtime protections, ensuring overtime compensation for those who’ve been working long hours without extra pay. In this blog post, we’ll... Read More

Minnesota Passes Paid Family and Medical Leave: Effective in 2026

Paid Family and Medical Leave On May 25, 2023, Minnesota Governor Tim Walz signed a Paid Family and Medical Leave bill (HF 2). The law provides employees with up to 20 weeks of paid family or medical leave per year. The leave program will be administered by a new division of the Minnesota Department of Employment and Economic Development: The... Read More