The settlement agreement calls for a gross monetary payment of $10.65 million to a settlement fund and other non-monetary actions by Duke University.
Three Mayer Brown ERISA attorneys discuss the current litigation landscape and offer practical strategies for promoting compliance in 2019.
Both parties agreed to dismiss the litigation under Federal Rule of Civil Procedure 41(a), and each party will bear its own attorneys’ fees and expenses.
A schedule to help plan sponsors track important due dates for their plan
The bill would establish a Pension Rehabilitation Administration (PRA)—an entirely new agency within the Department of the Treasury authorized to issue bonds in order to finance loans to certain multiemployer pension plans.
The colorfully worded opinion chides plaintiffs for failing to acknowledge the unique character of 403(b) retirement plans—including their common use of annuities and multiple recordkeepers.
The Puerto Rico Department of the Treasury has published its 2019 limits on qualified retirement plan contributions and benefits.
The complaint argues defendants violated ERISA duties by reinterpreting plan language in a conflicted manner aimed at reducing employer costs.
Previously, the IRS said a plan can request a determination letter only if it has never received a letter before; the plan is terminating; or the IRS makes a special exception.
In his opinion, the district court judge says an ERISA complaint of this nature does not need to describe in exhaustive detail the ways in which plaintiffs believe defendants breached their fiduciary duties.
The Board is asking for comments on the implementation guide for Statement No. 84, which provides guidance regarding what constitutes fiduciary activities for financial reporting purposes, the recognition of liabilities to beneficiaries, and how fiduciary activities should be reported.
The complaint suggests Transamerica continued to offer proprietary portfolios when their rates of return were meaningfully below stated long-term benchmarks.
A final rule adjusts penalties for inflation.
Many industry groups that submitted comments to the DOL argued that the plain language of Section 3(5) of the Employee Retirement Income Security Act (ERISA) indicates non-related employers could participate in multiple employer plans (MEPs).