Joseph P. Yonadi, Jr.

President Obama Provides a Parting Gift: A Health Reimbursement Arrangement for Small Employers

Authors: Joseph P. Yonadi, Jr. and Nancy R. Chawla

In December 2016, President Obama signed into law the 21st Century Cures Act (Act), giving employers with less than 50 employees a tool to help their employees pay for medical expenses without being subject to the Affordable Care Act’s (ACA) market reform requirements.

ACA Exemption
Beginning January 1, 2017, small employers may offer Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) to employees who purchased health plans in the individual […]

2017-10-26T09:52:06+00:00 January 23rd, 2017|0 Comments

A New Year’s Eve Surprise…Court Enjoins the HHS From Enforcing the ACA’s Prohibition of Discrimination on the Basis of “Gender Identity” and “Termination of Pregnancy”

Authors: Joseph P. Yonadi, Jr. and Nancy R. Chawla

On December 31, 2016, the U.S. District Court for the Northern District of Texas issued a nationwide preliminary injunction preventing the Department of Health and Human Services Office of Civil Rights (HHS) from enforcing Section 1557 of the Patient Protection and Affordable Care Act (ACA) that prohibits discrimination on the basis of “gender identity” and “termination of pregnancy.” See Franciscan Alliance, Inc. v. Burwell, No. 7:16-cv-00108-O (N.D. […]

2017-10-26T09:53:23+00:00 January 13th, 2017|0 Comments

5th Circuit Upholds Strict Pleading Standard in BP Stock Drop Case

Author: Shaylor Steele and Joe Yonadi

BP sponsored an investment and savings plan which contained an ESOP component comprised of BP stock as an investment option for participants.  On June 24, 2010, plaintiff-investors sued BP due to the sharp decline in BP stock after the Deepwater Horizon drilling rig explosion that caused a massive oil spill.  Plaintiffs alleged the following:  (1) that the plan fiduciaries breached their duties of prudence and loyalty by allowing the plans […]

2017-01-01T14:04:19+00:00 September 29th, 2016|0 Comments

IBM Stock Drop Case Illustrates Heightened Post-Dudenhoeffer Pleading Standard

Authors:  Shaylor Steele and Joe Yonadi

On September 7, 2016 the U.S. District Court for the Southern District of NY dismissed separate lawsuits challenging IBM’s stock drop under both ERISA and the federal securities laws.  In Jander v. IBM (S.D.N.Y. Sept 7, 2016), the Court clearly outlines the heightened Dudenhoeffer pleading standard where the plaintiff’s must allege:  (1) an alternative action that the defendant could have taken that would have been consistent with the securities laws, […]

2017-01-01T14:04:19+00:00 September 27th, 2016|0 Comments

Thinking About Converting Your Individually Designed Retirement Plan?  IRS Seeks Comments On Easing the Conversion Burden To Pre-Approved Plans

Authors:  Shaylor Steele and Joe Yonadi 

On September 16, in an effort to temper the anxiety that retirement plan sponsors are experiencing with respect to the impending elimination of  the qualified retirement plan determination letter program, the Internal Revenue Service (“IRS”) and Treasury Department published Announcement 2016-32 requesting comments on how they can make it easier for sponsors to satisfy qualified plan document requirements.

In particular and due to the increased interest to some plan sponsors, Treasury […]

2016-09-29T14:56:38+00:00 September 27th, 2016|0 Comments