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Jay Jensen

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

Jay’s practice focuses on the design, compliance, and administration of single employer and multiemployer pension and welfare plans.  He helps plan sponsors navigate plan mergers, spin-offs, and terminations, obtain determination letters and compliance statements from the Internal Revenue Service, and implement trust and custodial agreements and other plan-related contracts.

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

Jay received his J.D. from Tulane University 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.

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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…

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…

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…