The IRS has announced cost-of-living adjustments for 2020 retirement plan contributions. For 2020, the amounts that individuals will be able to contribute to 401(k), 403(b), and 457(b) retirement plans will increase $500 to $19,500. The catch-up contribution limit for employees age 50 and over will also increase $500 to $6,500. This chart summarizes the limitations for 2020 (amounts that changed for 2020 are shown in bold): Contribution Limits 2019 2020 Elective Deferral Limit – 401(k), 403(b) and 457(b) Plans $19,000 $19,500 …
Attorney Merle Wilberding Selected for Ohio Veterans Hall of Fame
Coolidge Wall Co., L.P.A. is proud to announce that Merle Wilberding, a long-time attorney with the firm, has been selected for induction into the Ohio Veterans Hall of Fame, a State of Ohio program that honors veterans more for what they did after their military service than for what they did during their military service. Many other states have since established veterans’ hall of fame programs, including New York, Connecticut, Indiana, Kentucky, North Carolina, Arizona, and Pennsylvania. Governor George Voinovich initiated the program in Ohio in 1992. Its charter members included six Ohio presidents who had previously served in the …
Is Your Business Experiencing a Cash Flow Shortage?
Running a business is hard. There will be times that every business owner will face an aggravated customer, an uncooperative vendor, a disgruntled employee or a difficult economic challenge. All of these situations are manageable, and the challenges can be overcome. Economic Distress Can be Managed and Overcome It is not uncommon for businesses to experience times of economic distress and cash shortfalls. A cash flow shortage could be caused by late paying customers, a need for increased inventory to support growth or a structural imbalance between revenue and expenses. A cash flow shortage can be extremely stressful to a …
Department of Labor Rolls Out Long Anticipated Update to Overtime Regulations
On September 24, 2019, the Department of Labor issued a long anticipated final rule that will update the overtime regulations that have been in place since 2004. The Department of Labor’s mandates are scheduled to go into effect on January 1, 2020. We now have the long-awaited answer to the question posed in a Coolidge Wall blog published May 1, 2017, titled “What Will Happen To The Salary-Exempt Regulations Under the New Administration?” After a proposed 2016 final rule issued by the Department of Labor updating the 2004 salary threshold requirements for overtime was invalidated by the U.S. District Court …
Choosing the Right Fiduciary: ‘Tis a Reason to be Folly
“Where ignorance is bliss, ’tis folly to be wise.” This oft quoted line originates from Thomas Grey’s “Ode on a Distant Prospect at Eton College.” In modern parlance, this line is bifurcated and inserted casually into playful conversation. The saying “ignorance is bliss” is most often associated with a state of being lethargic with one’s mind and yet fulfilled, nonetheless. A closer look at Mr. Grey’s poem suggests a theme that is less about reconciling one’s choices by resorting to apathy. Instead, it serves as a gentle reminder that acting wisely and with conviction in the present may serve to …
Nineteen Coolidge Wall Attorneys Selected for The Best Lawyers in America® 2020 Edition
Coolidge Wall Co., L.P.A. is pleased to announce that 19 of its attorneys were recently selected by their peers for inclusion in The Best Lawyers in America® 2020 edition. Best Lawyers is regarded as the definitive guide to legal excellence. Its process is based on an exhaustive peer-review survey on the legal abilities of other lawyers in their practice areas. Lawyers may not pay a fee to be listed, so inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine called Best Lawyers “the most respected referral list of attorneys in practice.” The Coolidge attorneys selected for inclusion …
Amanda Farris Promoted to Paralegal at Coolidge Wall
Coolidge Wall Co., L.P.A. is pleased to announce that Amanda Farris has been promoted to Paralegal within the firm’s Litigation Department. In her new role, Mandy will be responsible for supporting a Chapter 7 Panel Trustee in administrative and accounting functions as well as actively involved in managing bankruptcy litigation, liquidation of assets of bankruptcy estates, employment of professionals in bankruptcy estates, and fulfilling periodic reporting requirements. Mandy also is involved in assisting the representation of creditors in bankruptcy cases in contested matters and in assisting in the representation of debtors in out-of-court negotiations and cases filed under Chapters 7, …
Coolidge CEO Steve Herbert Recognized as National Legal Influencer
Coolidge Wall President and CEO J. Stephen Herbert has been selected to The Business Journals 2019 Influencers Law List, a list that spotlights 100 attorneys who are having an impact on business and legal matters in communities across the nation. Steve is one of only three Dayton attorneys selected for inclusion. The attorneys were identified in conjunction with editors and staff writers across the Dayton Business Journal’s network of more than 40 publications.
New Associate Ben Mazer Joins Coolidge Wall
Coolidge Wall Co., L.P.A. is pleased to announce that Benjamin A. Mazer has joined the firm as an associate in its Labor & Employment Department. Prior to joining Coolidge Wall, Ben served as Assistant Prosecutor with the Montgomery County Prosecutor’s Office, where he focused primarily on civil litigation in the areas of management-side employment defense and public sector defense on behalf of the county. Ben has served as lead counsel in dozens of cases in both federal and state courts and administrative agencies, while providing legal advice to county boards, agencies, elected officials, and commissions. “Ben brings a unique blend …
Coolidge Wall Elects Herin and Osborn as Shareholders of the Firm
Coolidge Wall Co., L.P.A. is pleased to announce that W. Chip Herin III and R. Michael Osborn have been elected as new shareholders of the firm. “Chip and Mike have developed deep experience within their practice areas and dedicated themselves to providing trusted counsel and excellent customer service,” said J. Stephen Herbert, President and CEO of Coolidge Wall. “They have worked hard, and we are proud to have them representing our firm as new shareholders.” Herin is an attorney in the firm’s Corporate and Real Estate Departments. He serves as a business advisor to his clients, assisting business and property …