There are several bases on which the court could impose sanctions.
Senator Patty Murray (D-WA), sent a letter to Government Accountability Office (GAO) requesting a study on the QDRO process.
A DOL investigation found the business owner used benefit plan contributions for corporate and personal expenses.
The legislation would strengthen consumer protections, improve access to retirement savings plans for part-time workers, help increase women’s financial literacy, and give specific support to low-income women and survivors of domestic abuse.
The DC plan trust of Frontier Communications was 219-times more concentrated in Verizon stock than defendants felt was appropriate for the pension plan for which the company bore the investment risk, plaintiffs allege in a new stock drop lawsuit.
Evidence was presented that showed supplemental retirement benefits were placed in the church's building campaign.
Several defendants, including M&T Bank and certain Wilmington Trust subsidiaries were found not to be fiduciaries and dismissed from the case; however excessive fee allegations and a prohibited transaction claim were moved forward against the bank’s retirement plan committee.
The Pension Benefit Guaranty Corporation says that mergers can protect the benefits earned by workers and retirees and extend the solvency of troubled plans.
The Butch Lewis Act offers a way to preserve union retiree pension benefits through an emergency loan program funded with proceeds from Treasury bonds; the legislation this week received a 10-year CBO cost assessment of $34 billion.
A group of investor advocacy organizations is calling on the Securities and Exchange Commission to significantly revise its adviser customer relationship summary form requirements within its broader Regulation Best Interest proposal.
One of three bills introduced this week as part of “Tax Reform 2.0,” the Family Savings Act includes many of the provisions written into the popular RESA legislation.
An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern Markets Initiative is pushing back on a tax provision in the bill.
As in other recent stock drop litigation decisions, the plaintiff here ultimately failed to jump the high hurdle for standing set by Fifth-Third vs. Dudenhoeffer.
The PBGC expanded the examples about how to determine premiums in a year when a plan is involved with a spinoff, merger or consolidation, and it expanded the section about short plan years to provide additional information for plans expecting to distribute assets during the 2018 plan year pursuant to a standard termination.
Among other things, a federal appellate court rejected a district court’s decision that the PBGC standards for establishing successor liability are outlined in the Multiemployer Pension Plan Amendment Act of 1980 (MPPAA) and do not apply to single-employer plans.