Statutory Title: Minnesota Secure Choice Retirement Program ActStatutory Citation: Minnesota Statutes section 187.01-.08.Bill Number: House File 782Issuing Body: State of MinnesotaDate Enacted: May 19, 2023Effective Date: The statute is immediately effective, but the obligations of employers will not be operative until the program is fully established, which looks to be January 1, 2025.In Brief: The...

The new rule provides details on the implementation of the Pregnant Workers Fairness Act (PWFA) (42 USC 2000). PWFA provides employees certain rights regarding pregnancy, childbirth, and related conditions.  (§1636.1.) Like most modern statutes, when our elected legislators passed PWFA, they left many details to be filled in by unelected bureaucrats in the executive branch. The new rule provides those details.

Payable on death accounts. Your institution probably issues them on a regular basis, but how much do you really know about them? Whether you’re a banking veteran or new to the game, it’s always a good time to familiarize yourself with what they are, what they are for, and what you, the financial institution, do...

As the world continues its shift towards electronic and virtual means of conducting business, lenders and lawyers remain stalwart in their commitment to physical paper, or at a minimum, PDFs with ink or e-signatures. However, our worlds are not immune to the encroachment of increasingly virtual and informal means of communicating and conducting business, even...

As interest rates increase, the lending community is expecting an uptick in collection proceedings. As part of the collection process, lenders will need to send default notices to borrowers informing borrowers of the default and how to cure. It is imperative for those default notices to contain the appropriate and necessary information as required by...

The Setting Every Community Up for Retirement Act ( also known as the Secure Act) became law on December 20, 2019, and went into effect in 2020. More recently, Congress enacted the SECURE 2.0 Act, with some of the provisions having already taken effect as of January 1, 2023. The SECURE Act and SECURE 2.0...

Divorce and taxes—two topics most people don’t wish to think about. However, tax issues have a substantial impact on divorce and the lives of those involved. Here are a few key divorce tax takeaways that are sometimes forgotten: Update Your Withholdings. People typically file a new form W-4 with an employer to change withholdings after...