Benefits Archives | Page 2 of 644

Administration | July 21st, 2023

TECO Energy DB Plan Sued by Pension Beneficiary for Shortfall

The complaint alleges the Florida-based energy company and its pension plan failed to disclose material information in the summary plan description used to calculate lump sum payments to...

Administration | July 20th, 2023

Hawaii Seeks Executive Director to Establish State Retirement Savings Program

The state’s private sector retirement plan, slated to take effect in July 2024, hopes to say aloha to its first leader after posting the position online this week.

Administration | July 19th, 2023

Indiana Erector Set Manufacturer’s Former Chairman Sued by ESOP Participants

The plaintiffs allege fiduciary breaches occurred in a leveraged buyout after the company founder’s death.

Administration | July 17th, 2023

DOL Seeks Independent Fiduciary for 401(k) Plan of Closed NY Construction Company

When L D Wenger Construction Co. Inc. ceased operations, its 401(k) plan was deserted by the fiduciary, barring retirement plan participants from access to their retirement assets, the...

Benefits | July 13th, 2023

Nava Benefits Acquires Consulting Firm to Improve Employee Experience

Nava and Nielsen Benefits Group plan to make cost-effective health care more accessible for small and midsize employers.

Benefits | July 11th, 2023

Complaint Targets Waters Corp. 401(k) Plan, Board, Benefits Panel

The suit, filed in Massachusetts federal court, alleges retirement plan fiduciaries caused participants to pay excessive fees to plan recordkeeper Fidelity Investments.

Benefits | July 10th, 2023

DOL Targets New Jersey 401(k) Plan for Concrete Companies

Concrete producer Di Ferraro Inc. failed to remit employee withholdings and loan repayments to the plan over six years, the Department of Labor alleges.

Benefits | July 7th, 2023

DOL Sues SIMPLE IRA Plan Sponsor for Pocketing Retirement Deferrals

A Minnesota HVAC company is alleged by the Department of Labor to have misappropriated the retirement contributions of its’ employees, according to the lawsuit.

Benefits | July 6th, 2023

DOL Sues West Virginia Company for Fiduciary Breaches

MSES Consultants Inc. failed to fund its health plan for much of 2016, leaving participants and beneficiaries on the hook for health care costs.

Benefits | July 6th, 2023

Pace of New PEP Filings Slowing

Observers expect consolidation as market matures and some slowing due to IRS clarification that expanded the scope of PEPs requiring audits.

Benefits | July 6th, 2023

Supreme Court Ruling Leaves Student Loan Borrowers Looking for Help

Workers with student loan debt may start to feel a pinch when payments resume in October. Plan sponsors have an opportunity to ‘show up’ and help them cope.

Administration | July 5th, 2023

Salas O’Brien Plans to Address Pay, Workplace and Retirement Benefits

Salas O’Brien has plotted changes to compensation and workplace benefits, with Lucas Hellmer as the new director of benefits and compensation.

Benefits | July 5th, 2023

DOL Provides Cybersecurity Tips For Plan Sponsors, Participants

Workers should log-in to their recordkeeper’s website periodically to check online retirement accounts, the Department of Labor's Lisa Gomez advises.

Benefits | July 3rd, 2023

The Retirement Income ‘Low-Hanging Fruit’ Option Open to Plan Sponsors

Plan sponsors and their retirement industry providers can take steps toward facilitating greater coordination and use of systematic withdrawals by plan participants.

Benefits | July 3rd, 2023

AI Has Potential to Improve Plan Design, Expand Retirement Plan Access

Users may not be able to rely on artificial intelligence for financial advice yet, but technological developments are already making plan sponsors more efficient.

Benefits | July 3rd, 2023

Equity in Plan Design Starts with Understanding Demographics, Expanding Eligibility

To provide broader and more equitable access to retirement savings for all participants, plan sponsors should consider auto features, new SECURE 2.0 provisions, and tracking demographics to make...

Benefits | June 30th, 2023