IRS Extends Disaster Relief to Hurricane Maria, Wildfires Victims
The agency has relaxed loan and hardship distribution rules.
Compliance
Treasury, IRS Issue Priority Guidance Plan
Among its list for retirement plans are projects for which guidance has been long-awaited from the agencies.
Retirement Account Deferrals Protected in GOP Tax Proposal
Early interpretation of the 500 page tax legislation released by majority Republicans suggests the treatment of retirement account salary deferrals will largely be left alone.
IRS Letter May Open Door for Auto Enrollment in More Governmental 457 Plans
In response to a private letter ruling from the IRS, ICMA-RC will provide its public-sector clients with a model 457(b) plan document incorporating auto enrollment based on the...
Ruby Tuesday Settles Age Bias Suit
The EEOC recently held a hearing to discuss changes that could improve older worker employment.
Treasury Calls for Certification of Annuity Assessment Experts
The Treasury Department believes that if an expert was certified to assess the viability of annuity providers, retirement plan sponsors would be more inclined to offer in-plan guaranteed...
EEOC Sues Employer Over Mandatory Retirement Policy
The agency says a receptionist was fired four days after her 65th birthday due to a company policy that mandated retirement at age 65.
Xerox Wins Dismissal of Suit Over Financial Engines Offering
Neither Xerox nor Financial Engines were acting in a fiduciary capacity relating to their fee arrangement, a court found.
IRS Issues Memorandum on Plan Loan Cure Periods
IRS says missed repayments can be addressed in the following quarter or that participants can refinance a loan, but that it will still be due on the original...
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.
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...