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Labor, Employment and Benefits: Alert - November 10, 2009

On October 28, 2009, President Obama signed into law a Defense Department Fiscal Year 2010 authorization bill that expands the Family and Medical Leave Act’s (FMLA) requirements with respect to “qualifying exigency leave” for family of military members and “military caregiver leave.” Specifically, qualifying exigency leave now applies to employees who have family members on active duty military service in a for­eign country, and military caregiver leave applies to family members of veterans, not just active duty service members. Although the law does not specify an effective date, it ap­pears to take effect immediately.

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Government Contracts: Alert - November 12, 2009

On November 30, 2009, the Supreme Court will hear oral argument in Graham County Soil & Water Conservation District v. United States ex rel. Wilson, a qui tam action brought under the False Claims Act (FCA) and appealed from a Fourth Circuit decision. The Court will use the case to resolve a split among the circuits over the scope of the FCA's "public disclosure" bar. A decision affirming the Fourth Circuit could increase qui tam litigation against any organization that does business with, or receives federal money through, federal, state and local governmental entities – and would further expand the reach of the FCA to any state or local program involving the use of federal funds.

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Private Wealth Services
Newsletter - Fall 2007
 
In this Issue...
IRS Extends Section 409A Compliance Date – But Most Employers Must Take Action Prior to December 31, 2007
 
 September 24, 2007
 
David O'Leary - Chicago

Section 409A of the Internal Revenue Code imposes significant restrictions on the payment of deferred compensation under severance plans, equity compensation plans, executive employment agreements and other agreements. On September 10, 2007, the Internal Revenue Service issued Notice 2007-78, extending the document compliance date from December 31, 2007, to December 31, 2008. Unfortunately, the notice only extends the date that the amendments to the documents must be drafted in order for the plan or arrangement to comply with Section 409A. The notice does nothing to extend the time by which decisions regarding plan design must be made or deferral elections changed. In addition, beginning January 1, 2008, all plans and arrangements must be operated in full compliance with Section 409A – even if the plan documents have not been updated.

In order to take advantage of significant planning opportunities, it’s important to act quickly to review your plans and arrangements prior to the December 31, 2007, deadline.

For more information, email David O’Leary at David.Oleary@hklaw.com or call toll free, 1-888-688-8500.

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