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SECURE Act 2.0 Significant Changes for Retirement Plans

Practice: Employee Benefits & Executive Compensation, Labor & Employment

January 19, 2023 SECURE 2.0 Act of 2022, was part of the Consolidated Appropriations Act, 2023, signed by President Biden on December 29, 2022. This Act makes numerous important changes to various retirement plan rules, affecting 401(k) and 403(b) plans, and enhances some changes made in the 2019 SECURE Act.
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Federal Trade Commission Seeks to Ban Non-Compete Agreements

Practice: Employee Benefits & Executive Compensation, Labor & Employment

January 19, 2023 On January 5, 2023, the Federal Trade Commission (FTC) proposed a new rule that, if implemented, would prohibit employers from entering into non-compete agreements with their workers (with limited exceptions). The proposed rule would also require employers to rescind existing non-compete restrictions with current and former workers.  
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DOL Proposes New Rule for Independent Contractor Classification

Practice: Employee Benefits & Executive Compensation, Labor & Employment

Misclassification of workers as independent contractors has been a long-standing issue for employers, and enforcement priority for various federal and state agencies. On October 13, 2022, the United States Department of Labor (DOL) proposed a new rule that would make it harder to classify a worker as an independent contractor
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Increase in 401(k) Plan Limits for 2023

Practice: Employee Benefits & Executive Compensation, Labor & Employment

The IRS, in Notice 2022-55 has announced increased 401(k) plan limits for 2023.  The increases are larger than usual due to inflation.  Here is what you need to know: The 401(k) deferral limit is increased to $22,500 from $20,500. Note this increase applies to 403(b) plans as well. The total contribution limit
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What Employers Can Learn from Mar-a-Lago

Practice: Employee Benefits & Executive Compensation, Labor & Employment

In recent days, pictures of documents labeled “top-secret” and “classified” strewn about the carpet of Mar-a-Lago have dominated the news headlines. These pictures have been shocking but likely don’t seem applicable to the general public given that the vast majority of people will never possess such sensitive state secrets. However,
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The Obligation to Provide a Medical Leave as a Reasonable Accommodation

Practice: Employee Benefits & Executive Compensation, Labor & Employment

The federal and Connecticut Family and Medical Leave Acts (FMLA) provide clear requirements for how much job-protected leave a covered employer must provide to its eligible employees. That is, eligible employees are generally entitled to 12 weeks of job-protected leave over a 12-month period, plus an additional two weeks of
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CT DECD Announces Municipal Brownfield Grant Funding Round

Practice: Employee Benefits & Executive Compensation, Labor & Employment

The Connecticut Department of Economic and Community Development’s (DECD) Office of Brownfield Remediation and Development (OBRD) has announced availability of funding under the State’s Municipal Brownfield Grant and Targeted Brownfield Development Loan Programs, and is inviting applications for same. The deadline to submit applications to DECD for this funding round
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Breaking Ground: Connecticut’s Top Court Tilts Tables in Favor of Developers

Practice: Employee Benefits & Executive Compensation, Labor & Employment

In an important and positive case for the real estate development community, the Connecticut Supreme Court has dramatically reduced the amount of discretion a local zoning commission has when reviewing a special permit application. In McLoughlin v. Planning & Zoning Commission of the Town of Bethel, the court held that while
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MADE IN CONNECTICUT: Heightened Regulatory Enforcement is a Reminder to All Manufacturers

Practice: Employee Benefits & Executive Compensation, Labor & Employment

As many manufacturers have become painfully aware, federal agencies from the National Highway Traffic Safety Administration to the Consumer Product Safety Commission have stepped up both their rulemaking and enforcement activities under the Biden Administration. In yet another example of this increased enforcement activity, the U.S. Food and Drug Administration
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As crypto enters the compensation world, Startups should walk before running

Practice: Employee Benefits & Executive Compensation, Labor & Employment

The use of cryptocurrency is starting to gain a substantial foothold in employment and compensation according to the U.S. Department of Labor. For startup companies and other employers, this trend should call for both excitement and caution. First, last month the DOL’s Employee Benefits Security Administration published a compliance assistance
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