2021 Employment Law Annual Update Series: Part Ten

October 21, 2021 at 9:30am10:30am
Virtual Event

About the 2021 Employment Law Annual Update

Join us for the tenth part of our 2021 Employment Law Annual Update! The virtual series will continue through the year on the third Thursday of each month.

This year, we are taking every precaution to make sure our clients and our community stay safe during the pandemic and, as a result, we are making our usual one-day conference into a virtual series spread out over 2021. Participants will be provided with the information they need to navigate the ever-changing labor and employment landscape, as well as CLE and SHRM credits to meet any licensing requirements that participants may have.

Part 10: Severance: What Every Employer Needs to Know
Navigating ERISA and Tax Code Section 409A

Many employers offering severance or considering severance do not realize that the benefit may be subject to the Employee Retirement Income Security Act (ERISA). Please join us to learn:

  • What types of severance policies, practices or plans are subject to ERISA?
  • What are the consequences of sponsoring an ERISA-covered severance plan?
  • What are the penalties for failure to comply with ERISA?
  • What are the advantages of an ERISA-covered severance plan?

Severance can also constitute deferred compensation, subject to Section 409A of the Internal Revenue Code (Code). Failure to comply with Code Section 409A can have devastating tax consequences for the employee. For example, violating Code Section 409A can subject the employee to a 20% penalty and an additional interest-based tax, plus any State law interest and penalties. Please join us to learn:

  • What types of severance programs are subject to Code Section 409A?
  • How can severance programs comply with Code Section 409A?
  • What are the consequences of not complying with Code Section 409A?

Please join us for an interactive program where your questions will be welcome. For more information or to RSVP to this event, click here.

Webinars are 60 minutes each and provide 1 Maine CLE and 1 SHRM credits.

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