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Employee Benefits & Executive Compensation

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Home » Legal Services » Labor & Employment » Employee Benefits & Executive Compensation » News & Insights

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CT’s new Clean Slate law could boost workforce, but employers must take note

January 25, 2023
Carmody Labor & Employment partner, Vincent Farisello, quoted in article regarding CT’s new Clean Slate law could boost workforce, but employers must take note | Hartford Business Journal

SECURE Act 2.0 Significant Changes for Retirement Plans

January 19, 2023
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

January 19, 2023
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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Carmody Torrance Promotes Three to Partner

January 10, 2023
https://www.law360.com/pulse/articles/1563389/carmody-torrance-promotes-3-to-partner Carmody law firm elevates three to partner | New Haven BIZ

Carmody Torrance Sandak & Hennessey Elects Three to the Partnership

January 06, 2023
New Haven, Connecticut, January 6, 2023 — Carmody has elected three of its lawyers to the partnership effective January 1, 2023. Commenting on the promotion of the new partners, Managing Partner Rick Street said: “Stephanie, Janie and Tamara are all dedicated, smart lawyers who have made significant contributions to the
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Increase in 401(k) Plan Limits for 2023

November 03, 2022
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

September 12, 2022
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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Here’s how CT small employers can handle threat of major health insurance rate increases

August 20, 2022
Timothy Klimpl provides insight on how Connecticut employers can handle the increase of health insurance rates for the Hartford Business Journal. Click here to read the full story.

Young Black investors are betting heavily on crypto, worrying some advisors

April 26, 2022
Tim Klimpl is featured in Fortune’s CFO Daily. Click here to read the story.

As Crypto Enters the Compensation World, Employers Should Walk Before Running

April 25, 2022
Tim Klimpl discusses cryptocurrency as a form of compensation for the Connecticut Business & Industry Association. Click here to read the article.

As crypto enters the compensation world, Startups should walk before running

April 11, 2022
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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OSHA’s “vaccine or test” mandate stayed (again)

January 13, 2022
Earlier this afternoon, the U.S. Supreme Court issued a stay blocking the Occupational Health and Safety Administration (“OSHA”) from enforcing its “vaccine or test” mandate previously imposed on businesses with 100 or more employees.  This case will return to the Sixth Circuit Court of Appeals for the underlying merits to
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Withholding for Remote Employees Working in Other States (And Other Fun Scenarios)

July 16, 2021
Mark Williams and Tim Klimpl break down the basics of remote work and state withholding in the latest article for the CBIA. Click here to read the article.

New IRS Guidance on the COBRA Subsidy: Questions Answered

June 08, 2021
The IRS recently issued FAQs regarding the temporary, 100% COBRA subsidy created by the American Rescue Plan Act of 2021 (“Rescue Plan Act”). This subsidy is available to “Assistance Eligible Individuals” for COBRA continuation coverage during the period April 1, 2021 through September 30, 2021. We previously covered developments relating
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Long-Haulers: Workers with lingering COVID-19 side effects create new challenges for employers

April 13, 2021
Sarah Healey discusses COVID-19 “long haulers” returning back to the workplace. Click here to read the full article.

Labor Department Releases Model Notices for New COBRA Subsidy

April 13, 2021
In our March 29 e-alert concerning the new COBRA subsidy, we indicated that we would advise when the new COBRA notices from the U.S. Department of Labor (DOL) became available. The DOL published the model notices on April 7, 2021. Background: Under the American Rescue Plan Act (“ARPA”), a temporary
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Carmody Torrance Sandak & Hennessey LLP Welcomes Timothy S. Klimpl As Counsel

October 14, 2020
Timothy Klimpl, of New Canaan, Connecticut has recently joined Carmody Torrance Sandak & Hennessey LLP as Counsel in the firm’s Stamford office. Tim is a seasoned attorney with experience providing ERISA advice and related services to a variety of plan sponsors and employee benefit plans, including corporate, nonprofit, multiemployer and
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CHRO Provides Extensions for Certain Deadlines

April 10, 2020
As a result of the COVID-19 crisis, the Connecticut Commission for Human Rights and Opportunities (“CHRO”) has announced it will provide extensions of time for certain deadlines for COVID-19 related reasons. Sexual Harassment Training The CHRO posted on its website that it will consider a 90-day extension of the deadline
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Connecticut Department of Labor Shared Work Program Overview

April 02, 2020
What is the program? The Shared Work Program is administered by the Connecticut Department of Labor (“CTDOL”). It is designed to save jobs and retain workers by offering an alternative to layoffs. It allows employers to temporarily reduce an employee’s hours and supplement lost wages with partial unemployment benefits. What
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Remote Notarization Procedure

April 02, 2020
Pursuant to the Governor’s Executive Order No. 7Q (“Order No. 7Q”) of March 30, 2020 (click here), the remote notarization provisions of Executive Order No. 7K were modified to address some of the issues and oversights therein. While the 10-year retention requirement for recordings remains, Order No. 7Q does incorporate
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COVID-19: Privacy and Cybersecurity Risks of Telecommuting

March 17, 2020
Enabling work from home is a solid start to managing your organization’s COVID-19 risks.  Yet, while it resolves some issues, it raises others.  Before providing remote access to the company’s IT systems and digital assets, consider the privacy and data security implications of telework.  Here are a few top-of-mind considerations:
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