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

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

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.