Jim Sawtelle Joins Our Employment Team

As you may be aware, Chuck Weese has left Faegre & Benson. We wish him well at his new firm.

At the same time, we are pleased to announce that James G. Sawtelle has joined our Colorado employment law team. Jim is a seasoned employment and civil litigator, has been lead counsel in more than 30 jury and bench trials, and is an attorney of record in 18 reported judicial decisions. He has appeared on behalf of clients in various contested proceedings throughout 17 states, as well as the District of Columbia. Jim has a national practice, representing clients ranging from individual executives, to small businesses, to Fortune 500 corporations.

(May, 2008)

Upcoming Seminar

(May, 2008)

Minnesota Adopts Model Charitable Endowment and Investment Law

Charitable organizations will enjoy more flexibility in endowment spending policies under the Uniform Prudent Management of Institutional Funds Act (UPMIFA) signed into law on April 10, 2008, by Minnesota Governor Tim Pawlenty. The law will take effect on August 1, 2008, replacing Minnesota’s Uniform Management of Institutional Funds Act that has been in place since 1973.(April, 2008)

Potential Liability Exposure for Pension Fiduciaries

The Supreme Court recently held that the Employee Retirement and Income Security Act of 1974 (“ERISA”), which is the federal law that protects pensions and other employee benefits, affords a remedy to an individual participant in a defined contribution plan that suffered investment losses to his plan account due to a breach by the plan’s fiduciaries. LaRue v. DeWolff Boberg & Assocs. Inc., No. 06-0856 (2008). This decision marks a significant expansion of the liability faced by plan fiduciaries in the United States. (March, 2008)

State Taxation of Deferred Compensation and Income from Stock Options: Issues for Employers and Nonresident Recipients

A recent amendment to Minnesota law could create new tax liabilities for residents who receive deferred compensation—or income from stock options—attributable to employment in the state. Employers will need to determine how much of each employee’s income is subject to tax under the new law. But current Minnesota Department of Revenue rules are not well suited for determining how income from all types of compensation should be allocated.(March, 2008)

Practical 409A Advice from Faegre & Benson LLP

December 31, 2008, is the deadline for full documentary compliance with IRS Code Section 409A. These new rules governing nonqualified deferred compensation are complex—and bringing plans and arrangements into compliance can be time consuming. Because employers look to Faegre & Benson LLP for practical advice and information on Section 409A, we’ve developed a series of articles to help guide your compliance process. (March, 2008)

Exxon Litigation Update

An update on the status of ongoing litigation involving the Exxon Valdez. (March, 2008)

China Law Update - January 2008

We summarize three new regulations and measures in this first issue of China Law Update for the year 2008. All were issued near the end of 2007. (February, 2008)

The H-1B “Cap” and Bridging the “Gap”

With the H-1B cap being reached earlier and earlier in the last several years, companies that require the services of foreign national professionals in specialty occupations are now required to think about recruitment strategies under the ticking clock of the H-1B cap, including ways to “bridge the gap” until October 1 of the year in which they apply for a visa or even beyond. (February, 2008)

Permanent Residence Options for Foreign Physicians: What's the Prognosis?

Physicians must complete four years of medical school training, followed by three to eight years of internship and residency, depending on the particular area of specialization. Foreign physicians interested in pursuing permanent resident (so-called “green card”) status in the United States, however, must demonstrate an extra measure of patience: On top of their years of training, they often must wait several more years for final approval of their highly desired immigration status.(February, 2008)