The View from Proskauer on Developments in the World of Employee Benefits, Executive Compensation & ERISA Litigation

Jay Jensen

Jay Jensen is an associate in the Labor Department and a member of the Employee Benefits & Executive Compensation Group.

Prior to joining Proskauer, Jay served as a staff attorney in the Tulane University Office of the General Counsel, advising the university on a broad range of legal issues, including labor and employment, non-profit law and taxation, regulatory compliance, data privacy, and general business transactions.

Jay earned his J.D. from Tulane Law School, where he trained as a student attorney in the Civil Rights and Federal Practice Clinic and received best speaker and brief awards competing in appellate moot court.

Before attending law school, Jay completed a graduate degree in Humanities and taught interdisciplinary college courses.

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SECURE 2.0 Brings Significant Changes for 403(b) Plans

As part of our continuing series on SECURE 2.0, signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). 403(b) plans are similar to 401(a) tax-qualified defined contribution plans but sponsored by public schools or non-profit entities and subject to unique requirements under the Internal … Continue Reading

SECURE 2.0 Delivers New Rules for Correcting Retirement Plan Errors

By Jay Jensen and Jennifer Rigterink on January 3, 2023 Posted in Employee Plans Compliance Resolutions System, Overpayment of Benefits, SECURE 2.0

As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments, (2) expansion of the Self-Correction Program under the IRS’s Employee Plans Compliance Resolution System (“EPCRS”) to cover most inadvertent errors, and (3) making permanent the current EPCRS … Continue Reading

Fifth Circuit Rules that DOL Advisory Opinion Is Subject to Judicial Review and Invalidates DOL Advisory Opinion on Health Insurance

By Myron Rumeld, Tulio Chirinos and Jay Jensen on August 26, 2022 Posted in Department of Labor

On August 17, 2022, the U.S. Court of Appeals for the Fifth Circuit held that a Department of Labor (“DOL”) advisory opinion, which found that an insurance plan was not governed by ERISA, was unenforceable under the Administrative Procedure Act (“APA”). In doing so, the court ruled that the DOL advisory opinion constituted a “final … Continue Reading