Bob Ellerbrock focuses his practice on employee benefits and ERISA. He regularly advises clients concerning qualified retirement plans (401(k), defined benefit, 403(b)), non-qualified plans, fringe benefits, health and welfare benefits, Affordable Care Act compliance, and executive compensation issues. With experience in the retirement plan industry prior to practicing law, Bob draws on his knowledge counseling clients in the design and implementation of all types of employee benefit plans.
Insights by Robert S. Ellerbrock, III
This is an update to our article, Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation, which was published on August 22, 2017.
In January 2019, the Internal Revenue Service (IRS) issued Notice 2019-09, which provides interim guidance for Section 4960 of the Internal Revenue Code of 1986.
Section 4960 of the Internal Revenue Code of 1986 (IRC), as amended, imposes an excise tax on compensation of certain highly compensated employees of tax-exempt organizations.
Recent statistics show that approximately 70 percent of college graduates will leave college with an average of at least $30,000 in student loan debt. Cumulatively, the national student loan debt is approximately $1.5 trillion. This burden is causing millennials to wait longer than previous generations to buy houses, start families, and save for retirement. Although student loan indebtedness is not an issue employers can solve alone, a few are finding ways to recruit and retain talent by offering a helping hand to employees dealing with massive debt burdens.
The enactment of the Tax Cuts and Jobs Act of 2017 has raised a number of potential issues for institutions of higher education. Due to this significant impact, institutions need to study the Tax Act and plan appropriately.
On November 2, 2017, U.S. Representative Mimi Walters (R-CA) introduced the Workflex in the 21st Century Act, a bill that would amend the Employee Retirement Income Security Act of 1974 (ERISA). The legislation would allow employers to create an ERISA plan, known as a qualified flexible workplace arrangement plan, to offer employees a combination of guaranteed paid leave and increased work flexibility options.