Fifty Years After ADEA, Age Discrimination Still Significant
A report by the EEOC Acting Chair says age discrimination can thwart employees’ plans to work longer and could affect retirement plan drawdown strategies.
Compliance
Groom Law Group to IRS: More Plan Types Need Determination Letters
Under the restricted determination letter program created by IRS Revenue Procedure 2016-37, a plan can now request a determination letter only in very limited circumstances; attorneys with Groom...
MetLife Accused of Failing to Pay Retirees Covered by Pension Risk Transfers
The company is facing lawsuits by a retirement plan participant whose assets were transferred to MetLife as well as by Massachusetts Secretary of the Commonwealth William Galvin.
PBGC Asks to Obtain Withdrawal Liability Information from Multiemployer Plans
The agency says it needs the information to estimate its multiemployer program liabilities for purposes of its financial statements.
K-12 403(b) Plan Sponsors Have New Fiduciary Duties Under Conn. Law
Connecticut decided to pass the law after Connecticut teachers regretted investing in certain products without being informed of fees and other charges.
Prospect Chartercare Faces Lawsuit Over DB Plan Funding
The complaint alleges that at a certain point, the plan lost its church plan status as defined by ERISA and was required to adhere to ERISA funding rules.
5th Circuit Officially Mandates Decision to Vacate DOL Fiduciary Rule
Industry stakeholders immediately offered their thoughts on the complex regulatory saga that has surrounded the now-defeated DOL fiduciary rule; depending on their position in the industry and their...
Retirement Plan Document Basics
A retirement plan consultant and an ERISA attorney offer tips for setting up, maintaining and following retirement plan documents.
DOL Finalizes Regulations to Extend Small Business Access to Health Plans
However, the Trump administration has already been threatened with a lawsuit over the regulation.
PSNC 2018: Best Practices to Protect Yourself and Your Company from Fiduciary Liability Lawsuits
Having prudent processes in place when making plan decisions is of utmost importance, and if a plan sponsor gets sued, having fiduciary liability insurance can be a big...
DOL Assists Custodians With Cleaning Out Abandoned Plans
When a plan is abandoned, custodians are left holding the assets of the plan, but lack the authority to terminate the plan and to distribute the plan's benefits...
Non-ERISA 403(b)s Could Be Affected by SEC Conflict of Interest Proposal
The Wagner Law Group says non-ERISA 403(b) plans may satisfy the definition of “retail customer” in the Securities and Exchange Commission’s (SEC)’s Regulation: Best Interest section of its...
Long-Term Loans Seen As Solution for Multiemployer Pension Crisis
Senator Sherrod Brown calls it imperative "to find a bipartisan solution to the crisis threatening 1.3 million Americans."
PSNC 2018: Fiduciary Services and Support
Understanding the opportunities associated with 3(21) and 3(38) fiduciary services—and the key differences between them—can help ensure the best use of the retirement plan committee’s time and resources.
PSNC 2018: Washington Update
Plan sponsors can anticipate additional guidance and legislation on a number of retirement plan issues.
SEC Finds Merrill Lynch Traders Overcharged for RMBS
The brokerage firm will pay more than $15 million in settlement.
Oregon Halts Move to Public DC Participant Investment Choice
A review found that a bill allowing employees who participate in the state’s individual account plan to select their own investments would violate the state’s legal and fiduciary...
Appellate Court Rejects Bank of America Participants’ Claim for More Relief
Noting that the bank already made restitution to the participants under an IRS closing agreement, the 4th Circuit agreed with a lower court that the bank did not...
Deutsche Bank Self-Dealing ERISA Suit Partly Dismissed
The mixed ruling grapples with binding circuit court guidance and reaches quite different conclusions regarding various allegations of prohibited transactions and fiduciary breaches.