In a matter of first impression for federal courts, the N.D. of Illinois found that a pension fund cannot use post-2014 contribution rate increases made pursuant to a rehabilitation plan to calculate an employer’s withdrawal liability payment amount.
The new tax year is swiftly approaching, along with new statutory rates, limits and changes to employment law in England and Wales that HR practitioners should be aware of.
Three months into the new legislative year, with all but a handful of state legislatures currently in session, several employment law trends for 2024 have emerged.
SB 1515, which the governor is expected to sign, provides some relief to employers under the state’s various leave laws by amending Paid Leave Oregon and the Oregon Family Leave Act (OFLA) to better align.
On March 11, 2024, the U.S. District Court for the Northern District of Illinois held that ERISA preempts Section 42 of the Illinois Day and Temporary Labor Services Act.
On January 31, 2024, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans.
On January 1, 2024, Canada entered the last phase of CPP enhancements introduced in 2016 through Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act.
Illinois state and local legislatures kept busy in 2023 with the enactment of numerous new labor and employment laws, including significant changes to paid and sick leave for employees and new protections for temporary laborers and independent contractors
The new Profit-Sharing Act of November 19, 2023 sets a deadline of January 1, 2025 for companies with at least 11 employees to implement a mandatory profit-sharing scheme if they are profitable.
