ARLINGTON, Va., October 17, 2022 /PRNewswire/ — Bloomberg Tax & Accounting today announced the launch of a new tax management portfolio, Employee Benefits in Bankruptcy. Written by James D. Newell, William H. Schorlingand Marc Pfeiffer of Buchanan Ingersoll & Rooney PC, and Matthew D. Clyde by Cozen O’Connor, PC, the portfolio discusses the interplay between employee benefits and bankruptcy law.
The Portfolio offers advice for the common cases where the purposes of the Employees Retirement Income Security Act of 1974 (ERISA) conflict with the purposes of the United States Bankruptcy Code (the Bankruptcy Code). . While ERISA is designed to encourage the continuation and continuation of voluntary private pension plans for the benefit of their participants and to ensure the prompt and uninterrupted payment of pension benefits, the Bankruptcy Code is designed to provide a fresh start. to honest but unfortunate debtors unable to pay their obligations.
This portfolio discusses the impact of insolvency and bankruptcy on the termination of pension and benefit plans and the treatment of pension and benefit plans and claims in bankruptcy. The interplay between benefit law and bankruptcy has given rise to significant litigation. The Portfolio deals with court decisions, particularly when the courts disagree.
“We are proud to develop one of the most comprehensive and up-to-date portfolios in the industry to provide guidance regarding the intersection of bankruptcy and pension law,” said the author. james newel. “While the two areas are often in conflict, the new portfolio provides legal and tax practitioners with the timely information needed to make informed decisions that maximize returns for their clients.”
“When the economy falters, more employers may choose or be forced out of business,” said Heather Rothmann, vice president of analytics and content, Bloomberg Tax & Accounting. “The expert advice provided by the authors of this portfolio gives tax practitioners the information they need to understand the obligations and options related to ERISA plan benefits and plan termination in and outside the tax arena. bankruptcy.”
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SOURCE Bloomberg Tax and Accounting