Category

Pension Plans

Category

Now is the time to consider opportunities to manage global pension cost and risk. Many employers have already frozen their defined benefit plans and implemented defined contribution plans.  Of course, such cost-reduction strategies may raise employment law issues in non-US jurisdictions because of the Acquired Rights Directive in EU jurisdictions and similar legislation elsewhere.  In considering any such change, an employer has to consider how such change will be communicated to employees and employee representatives,…

Many US-based global employers can lose sight of compliance matters connected with employee benefit plans managed by their non-US operations as often non-US plans are statutory plans, maintained by a governmental agency, where the employer’s only obligation is to make the required contributions. As the first quarter of 2018 comes to a close, now is a good time to review your company’s global pension compliance. Delinquency Red Flags The local non-US affiliate may be delinquent in completing…