9th Circuit Weighs In on Dignity Health’s Church Plan Status
The appellate court agreed with a lower court that the health provider’s pension plan did not fit the definition of ‘church plan’ under ERISA.
Compliance
State Street Settles FX Charges
The bank will pay at least $60 million to ERISA plan clients.
How the DOL Fiduciary Rule May Impact HSA Administration
Employers may be impacted by the rule if they provide to their employees information about HSAs that crosses the line from general investment education to investment advice, according...
DOL to Fund Research for Portable Retirement Program
The DOL notes that the program seeks to assist those workers who have traditionally lacked access to an employer-provided retirement benefits program or are otherwise less likely to...
$2 Million Retirement Plan Never Properly Terminated
A federal court has removed the plan’s fiduciary and replaced him with an independent fiduciary.
DOL Announces ERISA Advisory Council Meeting
The Council will study participant plan transfers and account consolidation as well as cyber security concerns.
Cases Questioning Church Plans Petitioned to Supreme Court
Appellate courts have ruled that the pension plans of Advocate Health Care and St. Peter's Healthcare System are not “church plans” under ERISA.
Bank of America Settles Mortgage-Backed Securities Case with Public Fund
The bank has agreed to pay $335 million to settle a lawsuit brought by the Pennsylvania Public School Employees’ Retirement System.
Avon Products Settles ERISA Stock Drop Suit
A net settlement fund of approximately $4.345 million will be divided among eligible class members, according to attorneys for the participants in Avon’s defined contribution retirement plan.
Bill Would Preserve Social Security Another 75 Years
This year, Social Security will spend $15.7 billion more than it collects in taxes.
Union Pension Fund Settles DOL Provider Selection Lawsuit
The settlement agreement orders the fund to adopt a new selection policy and engage in a new search process.
6th Circuit Revives Public Pension’s Suit Against Freddie Mac
The appellate court concluded the Ohio pension fund plausibly alleged facts to support its claims.
Consultant Off the Hook for Providing Wrong Benefit Estimate
A federal appellate court found the consultant was not acting as a plan fiduciary.
Index Fund Designation Questioned in Latest Self-Dealing Lawsuit
The fund had an annual costs of 35 bps per year in the plans being targeted by the latest self-dealing lawsuit.
Target Hit With a Second Stock-Drop Challenge
Plaintiffs say the “artificial inflation of the company stock price” made Target shares a bad investment for the ESOP.
Another Small Plan Targeted in Excessive Fee Suit
Checksmart and its investment adviser, Cetera Advisor Networks, have been specifically targeted over fees of risk-based asset allocation funds in Checksmart’s 401(k) plan.
Participants in Bankrupt Company’s ESOP Can’t Offload Shares
A federal district court found that, although the confirmed reorganization plan for the company was ambiguous as to whether ESOP participants could sell shares, a bankruptcy court was...
Senators Introduce Resolutions to Block Wellness Program Rules
The senators say the rules issued by the EEOC contradict existing rules in the ACA.
Appellate Court Revives Berkshire Hathaway ERISA Suit
Berkshire Hathaway’s decision to freeze a subsidiary’s pension plan will get another look in district court.
Bill Would Move PBGC Premiums ‘Off Budget’
The bill aims to eliminate the motivation for legislators to raise PBGC premiums.