Slight Increase in Mortality Gives Pension Plans a Break
With life expectancies declining slightly, pension plan obligations are reduced between 0.7% and 1.0%, the Society of Actuaries says.
Compliance
IRS Announces 2018 Contribution/Benefits Limits
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500.
The Current State of Retirement Plan Litigation
Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned by lawsuit filings and court decisions.
ERISA Suit Targeting MIT Partially Dismissed in District Court
The district court decision spells out a number of caveats impacting this type of ERISA litigation, explaining why it is dismissing some claims while permitting others to go...
PBGC Tries Mediation for Certain DB Plan Cases
“By providing an alternative dispute resolution option for employers who sponsor ongoing and terminated plans, we expect to save time and money for both the government and our...
Phillips 66 Retirement Plan Faces Suit Over Inclusion of Former Parent Stock
Not only does the lawsuit claim ConocoPhillips stock does not meet ERISA’s definition of “employer securities,” but it says participants suffered millions of dollars in losses as the...
Appellate Decision Backs U.S. Bank in Pension Dispute
Discussion in the new appellate decision lays out some important distinctions regarding the initial district court’s decision to dismiss the lawsuit, weighing arguments of standing and mootness.
ERIC Files Lawsuit Against Oregon Retirement Savings Board
The association claims OregonSaves’ reporting requirements obstruct ERISA.
The Thrust of Fiduciary Liability Insurance
In a world of heightened plan sponsor scrutiny, fiduciary liability insurance can be a powerful tool.
Settlement Agreement Reached in Church Plan Challenge
Many terms of the settlement agreement between St. Joseph’s Hospital and its pension plan participants are similar to provisions of ERISA.
Meant to Aid Struggling Multiemployer Plans, MPRA Adds Complications
Under the Multiemployer Pension Reform Act, the Treasury must review pension plan applications for benefit suspensions—but the process is proving more stringent than applicants and industry experts had...
Congress Adds to Relief for Hurricane Victims
The act, signed into law last week, allows tax-penalty-free withdrawals and larger loan amounts from retirement accounts than current statutory limits.
IRS Reveals FY 2018 Compliance Priorities
Plan sponsors will have a number of new compliance checks to keep in mind.
Providers Remain Uncertain Amid Tense Legislative Session
The list of regulatory and legislative challenges affecting employers and their retirement plan consultants can seem endless, and when linked to the increasing litigation from the plaintiffs’ bar,...
IRS Issues Final Regulations About Mortality Tables
In a statement, ERIC said it is pleased the agency took into account its request for flexibility for DB plan sponsors to potentially delay for one year the...
Johns Hopkins University ERISA 403(b) Challenge Partly Dismissed
The complaint states that Johns Hopkins has not prudently managed its 403(b) plan, but a district court judge disagrees, at least on several aspects of the complaint.
TDF Underlying Funds and Revenue-Sharing Disclosure Claims Dismissed in Lawsuit
The participant only prevailed in moving forward a claim that Verizon allowed an imprudent investment option to continue to be offered in its retirement plans.
PBGC Issues Guidance About Active Participant Reduction Reportable Event
A technical update provides an alternative method for determining whether reporting an attrition event to the PBGC is required.
Broker Accused of Pay-to-Play With New York Fund Avoids Prison
A sentencing memorandum for Kelley cites many letters from friends, family and former co-workers attesting to “a life otherwise characterized by a deep devotion to her family, friends...
PBGC Makes Proposals About Plan Terminations
The agency is proposing that termination forms may be filed electronically and that plan sponsors be offered a pre-filing consultation.