News and Articles

November 2015 NEWSLETTER

David Lloyd - Tuesday, November 03, 2015

Dear valued clients and supporters: This month's newsletter will focus on: (1) New York City legislation, effective January 2016, expanding the right to pre-tax transit benefits for certain employees; (2) Governor Cuomo’s recently introduced statewide regulations prohibiting harassment and discrimination against transgender people; and (3) The first article in a two-part series focusing on executive severance packages and negotiations.

Pre-Tax Benefits a Boost for Commuters
Beginning January 1, 2016, New York City companies with 20 or more full-time employees will be required to offer their employees pre-tax transit benefits. This legislation encourages employers to take advantage of an existing federal tax benefit that allows companies to offer workers $130 as pre-tax income for transportation costs. As a result of this law, the City anticipates employees will save $400 per year on MetroCard expenses and employers will annually save $100 per employee in tax liability. The Department of Consumer Affairs will enforce the law, which imposes fines on covered business who do not offer the required benefits. However, companies that fail to comply will be given a 90-day grace period to fix their violation before being subject to civil penalty. To allow businesses adequate time to adjust their practices, employers will not be subject to penalty before July 1, 2016.


Expanded Protections for Transgender New Yorkers
Governor Cuomo recently introduced regulations by Executive Order that provide broad protections for transgender New Yorkers from unlawful discrimination. The statewide regulations prohibit harassment and discrimination against transgender people by all public and private employers, housing providers, businesses, creditors, and others. Cuomo’s order, to be enforced by the New York State Division of Human Rights, will be subject to a 45-day notice and comment period before being fully implemented. The regulations will provide the full force and protections of the existing New York Human Rights Law, which includes extensive compensation and other legal remedies for victims of discrimination and harassment, as well as stiff penalties for those who violate the law.


Executive Severance Negotiation
Executives who have been recently terminated and more importantly those that are considering leaving their current positions, including those that believe they are about to be terminated are urged to think more pro-actively about their severance packages. Rather than settle for what an employer may initially offer, if anything at all, executives should consider the benefits of developing a negotiation strategy that results in a package that makes their transition to the next phase of their lives and careers more manageable and equitable. The legal issues that generally determine what leverage, if any, an employee may have depends in large part on the rights under their specific executive employment agreements, any legal claims they may have against their employer, and other non-legal factors. To find out more about how to negotiate a better severance package from your employer, please read a more in-depth article posted here on our website.

 

Next month's newsletter will focus on the flip-side of the issues - Executive Compensation strategy.


Readers are encouraged to follow us on Twitter (@lloydpatelllp) and Facebook to receive updates on this and other issues throughout the month.


Recent Posts


Tags

Employment Contracts Apple vs. FBI commuter benefits Intellectual Property Business Facebook Privacy and Litigation Credit Executive Negotiation Executive Severance Trade Secrets Act Real Estate Law NYC Salary History Law NLRB Unionization graduate students ACA Affordable Care Act Housing Law workplace discrimination U.S. Department of Labor Trade Secrets Womens Rights Lactation Law entrepreneur AirBnB Fair Chance Act Right to Unionize Negotiating Trademark Law Start-up Ventures Public-Sector Union Fees Wage Theft Protection Act Business Law National Labor Relations Board New York Earned Sick Time Act Selling Business Corporate Law Glatt v. Fox Searchlight Pictures Department of Labor #meToo Fair Labor Standards Act Internet Law Mandatory Class Action Waivers Minimum wage Interns Paid Family Leave Security stocks Sexual Harassment policy LinkedIn Attracting Investment Ban the Box Credit Checks Federal Acquisition Regulatory Council Technology Employment Offer/Agreement Transgender protections New Address NQSO Pregnancy Employer Mandate Payroll Scams NY payroll law Nobel Prize Unions National Labor Relations Act Domain Name Worker's Rights Trademark licensing Fair Workweek Law Federal Contractors Interview Series Criminal Record Human Rights Law Nanny Audit Fair Pay and Safe Workplace Executive Order Non-Qualified Stock Options Firm Announcements Household Employees Illegal rentals Credit History Glatt v. Fox Searchlight Pictures, Inc. Arbitration Agreements Employee Salary Histories Joint-Employer Relationship Interns as Employees Divorce Fair Work Week Legislation Prenup NYC Sexual harrassment law Browning-Ferris Case Postnup Newsletter Overtime Exemptions Privacy Sexual Harassment Alter-Ego Doctrine I-9 Verification Overtime Rules Health Care $15 Minimum Wage Freelance Isn't Free Independent Contractor Web Domains Employment Law

Archive

EDIT - blog-container - This controls the styles for the headings

EDIT - BlogTagCloud - Font style

description

  • EDIT  - post-body - Font style

EDIT - side-panel - This is the colour of the sidebar headings

Snap | BC Module - Blog - Blog Description

Snap | BC Module - Blog - Blog Title

EDIT - Snap | BC Module - Blog - Date - This is the date box style

EDIT - Snap | BC Module - Blog - Post Content - Font style

EDIT - Snap | BC Module - Blog - Post Title - Heading style

EDIT  - Snap | BC Module - Blog - Sidebar Content - Font style

EDIT - Snap | BC Module - Blog - Sidebar Title - Heading style

latest blog title snap text

 

Disclaimer: Nothing on this website is or should be construed as legal advice.
An attorney-client relationship does not exist with our firm unless a signed
retainer agreement is executed, and we do not offer legal advice through
this site or any of the content located on it. For legal advice for your
particular circumstances, please contact us directly.