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Compensation, Benefits, & Bonuses Archives

Your First Deferred Compensation Agreement

When negotiating an executive employment agreement, you have to consider not only the compensation but also the tax consequences and issues that may arise because of when or how you are compensated. To fully understand and avoid any potential pitfalls, you should ensure your compensation agreement complies with the requirements of section 409A of the Internal Revenue Code, a law that addresses taxation and regulation of deferred compensation arrangements.

Coronavirus Pandemic Causes Ex-Employees Concerns Over Stock Options

As the COVID-19 coronavirus spreads, so do workers' fears about their jobs, compensation, and health insurance coverage. For many employees, losing a job also places their stock options in jeopardy. In our continuing series of FAQs, we talk about stock options - what you need to know, how and when to exercise them, and how you can approach an employer to preserve your rights.

Your First Offer Letter: How Do You Respond?

Congratulations! You have received an offer letter. Usually, this is a document that formally extends employment to a job applicant and outlines the main terms and conditions (including salary and other benefits). The offer letter also frequently gives a candidate a more in-depth description of the position's role within the organization and responsibilities. Although the offer letter may seem like it presents a take-it-or-leave-it proposition, most of the time there is some room for negotiation. Even if you think you have no ability to negotiate, it is still important to make sure you understand the terms you are agreeing to before signing the offer letter. Review the offer carefully and think outside of the box if there are issues you want to discuss.

Understanding the Employment Rights of "Gig Economy" Workers

As the economy continues to shift from a culture of full-time employment to an on-demand "gig" marketplace, the landscape of workers' rights is also changing. Working as an independent contractor rather than an employee allows a worker more flexibility and autonomy in their work schedule, among other things, but that may come at the cost of losing certain benefits. It's crucial to understand how the legal rights of workers who are considered "employees" are different from those who are considered independent contractors such as consultants, short-term contract workers, and freelancers. 

Boswell v. Panera Bread Co., No. 16-3230 (8th Cir. Jan. 5, 2018)

Here's a nice case for the New Year: a win for a class of Panera Bread store managers who claimed that the operation cheated them out of part of their bonus, by imposing a cap on the amount that could be earned only after the program commenced. The panel majority holds that once the managers performed any service under the terms of the bonus plan, it formed a unilateral contract that the employer could not modify without consent.

New ERISA Fiduciary Rule Takes Effect

On June 9, the long-awaited revised "fiduciary rule" from the U.S. Department of Labor ("DOL") went into partial effect and will be in full force as of January 1, 2018. After nearly a decade, and much political wrangling, the updated rule ushers in sweeping changes regarding the duties and responsibilities financial advisors and others owe their clients.

Do Retirees Have Rights Under ERISA When Companies Cut Benefits?

It's no secret that one of the ways companies try to cut costs is through layoffs. Another method, which can be just as disruptive to employees, is by reducing pensions and other benefits earned while working for the employer. From well-known companies to state governments, retirement benefits seem to be a favorite target, and provisions in President Trump's proposed budget are also raising fears that retired federal employees would see their benefits shrink drastically over time.

Reforming Labor and Employment Laws to Improve the Economy: Comparing American and French Approaches

This Sunday, May 7, the world will be watching France to see if the wave of populism that led to Brexit and the election of President Donald Trump will now usher in Marine Le Pen as the new French president. Le Pen leads the country's far-right National Front party and is up against the centrist Emmanuel Macron in this Sunday's runoff poll.

Fair Play Pay: Compensating College Athletes

It is not news that college athletics are big business. March Madness holds the entire country's rapt attention each year, and the revenues it generates for the NCAA are significant. The broadcast rights are worth more than $1 billion annually as of 2016. And, while the NCAA has indicated that 90% of that money goes to the benefit of the athletes, that may not truly be the case. March Madness is over, but many question whether the NCAA promulgates another form of madness, its amateurism rules that forbid compensation of college athletes.

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