BW INSIGHTS

IRS Issues Guidance on Matching Contributions for Student Loan Payments

By Maggie Simonson Schild & Cynthia Boyle Lande | 09.16.2024

Background On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) to provide highly anticipated interim guidance on Section 110 of Secure 2.0 Act (“Secure 2.0”), which was enacted in 2022. Secure 2.0 amended the definition of matching contributions to allow an employer to make matching contributions beginning in 2024 to 401(k), 403(b),... Read More

Texas Court Ruling on FTC Rule

By Kathryn A. Leidahl | 08.21.2024

On August 20, 2024, Judge Ada E. Brown for the Northern District of Texas issued a nationwide injunction barring the implementation of the Federal Trade Commission’s (FTC) regulation banning noncompete agreements. In April 2023, the FTC issued a final rule banning most new and existing noncompetes nationwide. Judge Brown’s ruling means the FTC ban... Read More

Two Critical Considerations for Employers Ahead of the FTC's Final Rule Effective Date

By Nicholas D. Ott | 08.14.2024

As the Federal Trade Commission's (FTC) final rule banning non-competes approaches its effective date of September 4, 2024, employers should begin preparing for its enforcement. Two key actions employers should consider now include: (1) initiating legal action for breaches of existing and enforceable non-competes, and (2) satisfying the final... Read More

Court Blocks FTC Rule Banning Employment Noncompete Agreements on a Limited Basis

By Danielle Smid | 07.10.2024

On May 7, 2024, the Federal Trade Commission (FTC) issued a Final Rule banning most post-employment non-competes for all workers, except senior executives, employed by for-profit employers. However, recent judicial decisions are stirring up problems for the Final Rule. Important Court Rulings On July 3, 2024, in Ryan LLC v. Federal Trade... Read More

Supreme Court Tightens Standards for NLRB Injunctive Relief

By Danielle Smid | 07.03.2024

The National Labor Relations Board (NLRB) is an independent federal agency tasked with safeguarding employees' rights and addressing unfair labor practices by employers. In the recent Supreme Court case Starbucks Corp. v. McKinney, 144 S. Ct. 1570 (2024), the Court's 8-1 decision imposed the stricter traditional four-factor test for granting... Read More

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

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

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