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Lawsuit Seeks to Invalidate DOL Opinion on Morgan Stanley Bonus Plan

By Scott E. Galbreath, J.D., LL.M (Tax) on October 31, 2025
Posted in ERISA

On October 28, 2025, former Morgan Stanley financial advisers filed suit against the United States Department of Labor (DOL), challenging the propriety of Advisory Opinion 2025-03A (Opinion) in Sheresky et al v. United States of America et al. The DOL Opinion opined the Morgan Stanley Compensation Incentive Plan was a bonus program exempt from…

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Welcome to The Benefit of Benefits blog, your resource for information and commentary on new legislative, regulatory, and industry developments in employee benefits and executive compensation. Beyond reporting the news and repeating the guidance text, we will clarify the reasoning behind the change and what it means from a practical perspective to employers, employees, and the industry. We will also provide commentary to help illuminate the benefit of the benefits discussed…because compensation is more than just wages. 

Author, Scott E. Galbreath, J.D., LL.M. (Tax) leads the Equity and Executive Compensation practice group at Trucker Huss and has more than 30 years of experience representing employers in ERISA, employee benefits, and executive compensation matters. 

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Author, Scott E. Galbreath, J.D., LL.M (Tax) has more than 30 years of experience representing employers in ERISA, employee benefits, and executive compensation matters. Read More

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