Employee Benefits and Compensation Under the New Bankruptcy Act
Tuesday, July 12, 2005
A 90-minute TeleConference/Live Audio Webcast
1:00-2:30 pm ET / 12:00-1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT
Although described as a consumer bankruptcy bill, the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 provides new rules for employee benefits in both individual bankruptcies and business bankruptcies. The new rules:
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Enhance the protection of IRAs and non-ERISA qualified retirement plan benefits in individual bankruptcies,
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Increase the priorities for pre-petition wages and employer contributions to benefit plans,
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Require repayment of plan loans,
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Impose anti-abandonment provisions for debtor plan administrators,
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Protect employee contributions withheld from wages when the employer goes bankrupt,
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Extend retiree health protections before bankruptcy,
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Restrict severance of insiders of debtors, and
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Restrict the use of key employee retention programs by debtors.
Moderator:
Mark S. Wintner, Stroock & Stroock & Lavan LLP, New York, NY
Speakers:
Marcia L. Goldstein, Weil, Gotshal & Manges, New York, NY
Mary M. Potter, Cox Smith Matthews Incorporated, San Antonio, TX
Ronald R. Sussman, Kronish Lieb Weiner & Hellman LLP, New York, NY
***PLEASE MAKE CHECKS PAYABLE TO ABA-JCEB and mail to 740 15th Street, N.W., Washington, DC 20005***
