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Mergers & Acquisitions Process Overview: Part 3
The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 3: Due Diligence.
Mergers & Acquisitions Process Overview: Part 2
The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 2: Letter of Intent (LOI).
Mergers & Acquisitions Process Overview: Part 1
The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 1: general seller and buyer motivation.
U.S. Supreme Court Sides with Transgender School Athlete, Upholds Preliminary Injunction Permitting Team Participation
On Thursday, April 6, 2023, the U.S. Supreme Court affirmed a preliminary injunction allowing a transgender middle school student to compete on the girls’ cross country and track teams at her school, signaling that a majority of the justices may not yet be ready to address this hot-button social issue.
ERISA Excessive Fee and Imprudent Investment Fiduciary Breach Cases: How to Avoid Being a Target
There has been a proliferation of lawsuits alleging breach of fiduciary duty in 401(k) and 403(b) plans. Although the cases of note involve larger employers and the corresponding larger 401(k) or 403(b) plans, fiduciaries of plans of all sizes should heed the warnings and lessons from the cases that populate the retirement plan news on a regular basis.
IRA Charitable Distributions: A Win-Win Scenario
While there are many ways to achieve your philanthropic goals, making donations through a personal retirement account (such as an individual retirement account or IRA) can be very effective.
Planning for Qualified Plan and IRA Distributions
It is too easy to focus only on complying with the rules regarding required minimum distributions (RMD). Your planning should encompass not only distributions upon death, but should also include a lifetime distribution strategy that is coordinated with your estate plan.
SECURE 2.0 and Exceptions to the Early Distribution Penalty
Before taking any distribution prior to age 59½, every participant and IRA owner should review the available exemptions from the premature distribution penalty and confirm that an available exemption applies.
2022 Agent and Broker Mergers and Acquisitions: 17% Decline
2022 mergers and acquisitions among insurance agencies and brokers in the U.S. and Canada declined 17% from the record set in 2021.
New Requirements & Fees for Foreclosure Actions in Erie
On January 18, 2023, Erie City Council passed “Erie City Official Ordinance 3-2023” which will create a new series of requirements and fees for lenders instituting foreclosure actions and owners of vacant houses located in the City of Erie.
New Year: Check Your Information!
The New Year is the perfect time to check your estate planning documents and beneficiary designations.
FTC Proposes New Ban on Non-Competes
On January 5, 2023, the Federal Trade Commission (FTC) published a proposed rule that would prohibit employers from enforcing and imposing non-compete agreements on workers. It is debatable whether a final rule will ultimately be published.
Highlights of SECURE 2.0 Act
As highly anticipated, the U.S. Congress passed SECURE 2.0 in late December 2022. Following is an overview of certain provisions with which retirement plan sponsors and custodians will want to become familiar. Some, if not all of these changes will call for interim plan amendments which as of now are not required until the last day of the plan year beginning on or after January 1, 2025 (or 2027 for governmental plans).
Agent and Broker Mergers & Acquisitions: 3rd Quarter 2022 Activity
The Q3 2022 Merger & Acquisition Update prepared by Optis Partners shows 554 property and casualty related transactions in the U.S. and Canada for the first three quarters in 2022 as compared to 644 transactions in the first three quarters of 2021.
Legislative Alert: PA Act 122: Entities Required to File Annual Reports Starting in 2024
Pennsylvania Act 122 of 2022 amends Title 15 of the Pennsylvania Consolidated Statutes dealing with Corporations and Unincorporated Associations, which now requires an annual report filing for various entities organized or authorized to do business in Pennsylvania.
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