On Monday, November 1, 2015, President Obama signed into law the Bipartisan Budget Act of 2015 (the “BBA”) which brings familiar changes for sponsors of defined benefit pension plans. Similar to the Moving Ahead for Progress in the 21st Century Act in 2012 (“MAP-21”), the BBA provides relief from pension funding obligations while increasing PBGC premiums. The following summarizes the two major changes under the BBA that affect pension plans.
New California Paid Sick Leave Requirements Effective July 1, 2015
Beginning July 1, 2015, California employers will be required to grant paid sick leave to nearly all California employees in compliance with California’s new paid sick leave law, the Healthy Workplaces, Healthy Families Act of 2014. The law applies to all employers who employ at least one employee who works in California for at