Articles in the Spring 2018 Edition of the KM Newsletter include: Tax Reform and Plan Loans; Overview of the New Tax Deduction for Pass-Through Business Owners; Impact of the Tax Cut and Jobs Act on Nonprofits and Tax-Exempt Entities; KM Welcomes Attorney Marshall Peterson
Since August 2016, district courts across the country have been grappling with a wave of cases filed against private universities that sponsor 403(b) plans subject to ERISA. These actions allege in part that the university 403(b) plans, most with significant assets, have not been managed prudently or for the exclusive purpose of providing benefits to participants and their beneficiaries, in violation of ERISA. Each complaint contains similar allegations that attack common 403(b) plan investment practices and plan design features. This article by Kathy Aslinger and Jenna Macnair explores the primary themes of these lawsuits.
Unless you've somehow managed to avoid the buzz, you probably know that the Affordable Care Act ("ACA") is still alive and well (for now). What you may not know is exactly what the Trump Administration has been able to accomplish with respect to its health care reform goals. This article intends to recap what has been done and clarify what hasn’t been done since inauguration day.
Prior to July 1, 2015, Tennessee law effectively prohibited a Tennessee governmental plan from complying with a domestic relations order except in very limited circumstances related to child support or alimony. That all changed in July of 2015 with a change in Tennessee Code Annotated § 26-2-105, which now requires all Tennessee governmental plans to recognize QDROs. This law change did not, however, subject governmental plans to the same ERISA and Code requirements as private plans. Rather, governmental plans have significantly more leeway in restricting the types of QDROs they will recognize and determining how and when benefits will be paid. Because of that leeway, different governmental employers may have very different rules. These tips may help you navigate this complicated area. Click above to read the full article
Articles in this edition include: In the Eyes of The Law, Actions Sometimes Speak Louder Than Words; Attorney Spotlight: Zack R. Gardner; Remote Workers 101: The Need for a Written Policy; Tax Reform through Tax Simplification
Articles in this edition include: Employee Training Programs; The Results Are In! City View 2017 Tennessee Top Attorneys; What is Planned Giving?; Attorney Spotlight: Briton Collins; Avoiding Employee Benefit Plan Surprises in Mergers and Acquisitions; ACA Reporting 2017: Are You Ready?
Articles in the Summer 2017 edition of the KM Newsletter include: Christenberry Kids Reading Program; Is Your Company Part of a Control Group or Affiliated Service Group?; Rollovers as Business Startups (ROBS) Viable Funding Option or Terrible Retirement Plan?; President Trump's Tax Reform Proposal: An Overview; Recent Changes to Estate Planning & Probate Laws
On July 1, 2017, the Tennessee Rules of Appellate Procedure will undergo two fundamental changes that affect both civil and criminal appeals. First, the location for initiating an appeal will change. Second, the appellant will be responsible for paying a filing fee with the clerk of the appellate court rather than posting a bond for costs. For any Tennessee lawyer whose practice includes appellate work, it is important to understand and be prepared for these changes. Click above to read the full article
On March 6, 2017, House Republicans announced their plan to repeal the Affordable Care Act (“ACA”) and replace it with the American Health Care Act of 2017 (“AHCA”). Less than three weeks later, on March 24, House Speaker Paul Ryan pulled the bill from the floor mere moments before a vote took place... Click above to read the full article
Articles in the Spring 2017 edition of the KM Newsletter include: Employee Handbooks - Acknowledgment of Receipt; IRS Taxpayer Advocacy Panel Seeks Suggestions on Improving Forms and Publications; Protecting Assets from Creditors via the “TIS Trust”; Board Member Responsibilities for Executive Compensation in Nonprofit Corporations; KM in the Community - CASA of East Tennessee; Hot Topics - Employee Handbook Edition
Articles in the Fall 2016 edition of the KM Newsletter include: Looking at Covenants Not to Compete and Input from the White House; KM Celebrates 100 Years; Are Employer Health Plans Required to Offer Gender Transition Coverage?; Charitable Organizations Lessening the Burdens of Government; Remain Qualified for Government Benefits Using Self-Settled Special Needs Trusts; The Results Are In!
Individuals seeking asset protection cannot afford to ignore the potentially devastating costs of nursing home and other long-term care. Nursing homes are among the most common and largest creditors an average American is likely to face in his or her lifetime, but only about 10% of the population has long-term care insurance. For the other 90%, Medicaid is the primary source of payment, so a basic understanding of the Medicaid asset protection process is vital. Click above for more information.
Articles in the Summer 2016 edition of the KM Newsletter include: What was new in 1916? KM Celebrates 100 Years; 501(c)(3) Tax-Exempt Organizations and Lobbying; Dave & Busters under Fire for Cutting Hours to Avoid ACA Compliance; ABLE Accounts; IRS Taxpayer Bill of Rights - Taxpayer Advocacy; What a Difference Attorneys' Fees Make!
The Affordable Care Act ("ACA") and its implementing regulations have created an ever-evolving, shifting, expanding piece of legislation that is nearly impossible for employers, and their lawyers, to keep up with. This article is meant to serve as your cliffs notes guide to what the Departments of Labor, Treasury and Health and Human Services (the "Departments") were up to in 2015.
Articles in the Spring 2016 edition of the KM Newsletter include: KM Celebrates 100 Years; Business Held Liable for Third Party Criminal Acts; New Law Brings More Clarity and Flexibility to Church Plans; Tennessee For-Profit Benefit Corporation Act; Estate Planning to Avoid Probate; and Reimbursement of Employee Expenses
Articles in the Winter 2016 edition of the KM Newsletter include: A court case of interest to property owners; Recent changes to the FLSA; Information on Medicare from our Estate Planning Department; Upcoming seminars
The deadline is quickly approaching for employers to comply with the Affordable Care Act’s employer reporting requirements. Although this may seem like just another IRS filing, the information required to complete the IRS forms may not be readily accessible for some employers and the instructions to the forms are detailed, often confusing and filled with caveats, exceptions and special rules. This presentation by Ashley Trotto focuses on reporting for large employers.
Nine federal agencies recently proposed rules that aim to clarify the rights and responsibilities of faith-based and community social service organizations receiving Federal funds. In this month’s KM Church Law Newsletter, Michael R. Crowder discusses the substance of these proposed rules, the background behind the rules, and any recent developments.
The Tennessee Court of Appeals recently released two opinions awarding attorneys’ fees to citizens after finding that two separate local governmental agencies willfully refused to provide access to public records required to be disclosed under the Tennessee Public Records Act. The TPRA requires governmental agencies to disclose all public records not specifically exempted from disclosure. These cases should be a cautionary tale to all Tennessee governmental agencies. This Governmental Law Newsletter by Briton Collins discusses these cases.
Trademarks are important to protecting and preserving the brands and reputations of businesses ranging from small start-ups to established multinational companies. State and federal trademark registration help protect marks by providing statutory protections on top of established common law rights. In this article, Zack R. Gardner and Prof. Brian Krumm (University of Tennessee College of Law) briefly discuss trademarks and provide a how-to practitioners guide to state and federal trademark registration.
The National Labor Relations Board’s General Counsel recently released important guidance on employee handbook provisions that have been found unlawful. Ben D. Cunningham’s memo discusses the General Counsel’s guidance and its implications for all private employers.
The ministerial exception prevents the application of anti-discrimination laws to the employment relationship between religious institutions and their ministerial employees. In this month’s KM Church Law Newsletter, Michael R. Crowder and Zack R. Gardner discuss generally the background behind the ministerial exception, recent developments to the doctrine, and the ambiguities that still exist.
Federal law allows members of the clergy to exclude a “ministerial housing allowance” from income for federal income tax purposes. In this month’s KM Church Law Newsletter, Zack R. Gardner discusses generally what constitutes a “ministerial housing allowance”, who may take the allowance, and the rules governing when the allowance may be taken.
Recent IRS regulations provide longevity protection by allowing individuals to defer required minimum distributions from certain qualified retirement plans past age 70 1/2. The attached memo by Michael Crowder discusses QLACs.
Determining who an employer’s
full-time employees are is no simple
task and will likely require substantial
administrative preparation. If an
employer is ill prepared and incorrectly
identifies its full-time employees, the
resulting penalties may be substantial.
The Department of Labor recently published a new rule under the Family Medical Leave Act amending the definition of “spouse” for FMLA purposes. Michael R. Crowder and Zack R. Gardner discuss the new rule and its implications for Churches and Church-related organizations in this month’s KM Church Law Newsletter.
This program covers what nonprofit organizations need to know about executive compensation. We focus on the best practices to follow when setting executive compensation and the underlying Tennessee state and IRS rules.
We have recently been learning some new things here at Kennerly Montgomery regarding estate planning and retirement planning. Please find attached our Estate Planning Newsletter. This particular edition focuses on optimizing Social Security benefits for married couples.
What is COBRA continuation coverage, and who pays for it?
What is a timely COBRA payment?
Is there an exception to the timely payment rule on account of a participant’s incapacity?
When might a court toll the time period for paying COBRA payments on account of the participant’s incapacity?
What steps should insurers take when dealing with late COBRA payments?
Effective July 1, 2014, Public Chapter 995 amends several of Tennessee’s existing employment statutes to bring them in line with their related federal counterpart. Specifically, the Tennessee Human Rights Act (“THRA”) has been amended to remove liability for individual supervisors or agents for claims against the employer.
Tennessee’s general assembly passed a new statute allowing convicted criminals to apply for a certificate of employability and providing protection to employers who hire employees who have received a certificate of employability. Ben Cunningham’s memo, attached, discusses the new statute.
If you ask an employer about compliance obligations under the Affordable
Care Act (“ACA”), he or she will likely tell you about the Employer Mandate. If
you ask a particularly astute employer, you may also hear about additional fees
and taxes required by the ACA. You are not likely, however, to have a discussion
on the ACA’s changes to the administrative simplification rules of the Health
Insurance Portability and Accountability Act of 1996 (“HIPAA”).
In the wake of the United States v. Windsor decision striking down Section 3 of the Defense of Marriage Act (DOMA), the Department of Labor (DOL), on June 26 2013, revised the definition of spouse for FMLA purposes to include same-sex spouses legally married and residing within a state that recognizes same-sex marriages.
Final Regulations Published on the 90-Day Waiting Period Limitation
A “church plan” is generally exempt from the requirements of the Employee Retirement Income Security Act (“ERISA”) unless the plan sponsor affirmatively elects ERISA coverage.
Which plan is right for you and your employees?
As this issue’s feature article makes clear, there are still many
unknowns with the Patient Protection and Affordable Care Act (the
“Act”). The following are some surprising issues that you and your staff
may encounter now that the Individual Mandate has taken full effect.
Imagine the following scenario: Janet, the
employee benefits plan administrator for
ABC Corporation, meets with Steve, an
attorney, for legal assistance in deciding
whether to deny benefits to Tom, an ABC
Corporation employee who is appealing a
prior denial of benefits. After conferring
with Steve, Janet decides to deny Tom
benefits. Tom subsequently brings an
Employee Retirement Income Security
Act (ERISA) claim against the plan to
recover his benefits, and he demands
access to the contents of Janet and
Steve’s prior communications.
Is Tom entitled to access?
Which states recognize same-sex marriage?
Does Federal law recognize same-sex marriages?
How does the Windsor decision affect payment of federal taxes?
Does Windsor impact employee benefit plans?
How does Tennessee treat same-sex marriages?
Do any local governments in Tennessee provide benefits to the same-sex spouses of their employees?
Has anyone ever challenged the Tennessee constitutional language prohibiting same-sex marriages?
As important as technology advancement
and biorefinery business formation are
to the future of the biofuels industry,
success is also wholly dependent on
enormous quantities of biomass being
produced by America’s farmers. The
purpose of this article is to further
thinking and discussion on the essential
terms of biomass supply arrangements
among all parties – farmers, biorefinery
owners, seed suppliers, feedstock
supply companies, bankers, lawyers and
What are RMDs, and when does a retirement plan participant/IRA owner begin withdrawing RMDs?
How are RMD amounts calculated?
What consequences do plan participants and plan sponsors face after failing to withdraw full and timely RMDs?
What are the RMD rules for retirement accounts and IRAs that are inherited?
The discussion of appropriate terms to include when contracting for biomass is one that must be continued among farmers, feedstock suppliers, bankers and biomass conversion facility owners as the industry progresses, to eventually find a middle ground on which all parties can agree.