Compliance

The case had been remanded to an appellate court after a Supreme Court decision.

An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found Interactive Marketing Group failed to formally terminate a profit sharing plan after the company...

Rules affecting cross-tested plans were included in proposed guidance providing nondiscrimination testing relief for certain DB plans.

It appears that non-fiduciary investment education will still be available under the DOL’s final fiduciary rule, though with some important caveats compared with the current rules. 

The attorney’s alleged contempt arose from a lawsuit against Herbert Bruister and others for various breaches of fiduciary duties that caused $6.5 million in losses to pension plans...

The DOL won a consent judgment and order valued at $1.1 million on behalf of participants in a Gruber Systems Inc. employee stock ownership plan. 

A federal district judge denies motions to dismiss in both cases.

The new GASB statement addresses practice issues raised by stakeholders during implementation of previous statements for financial reporting for government pension plans.

A federal district court found private equity funds that owned a bankrupt company are responsible for that company’s multiemployer pension plan withdrawal liability.

A partial settlement has been reached in a stock drop case filed against the RadioShack company and its retirement plan trustees.

A federal district court found a woman who was repeatedly denied pension benefits of her ex-spouse can now recover those benefits after his death.

The final rule from the DOL scaled back on some requirements, but left others in place.

However, some concerns still linger for some groups.

It will be some time still before the fiduciary rule language is fully digested by retirement plan service providers, but first-impression commentary is already pouring in. 

The final rule ‘defines a variety of investment education activities that fall short of fiduciary conduct.’

April 30 is the deadline for employers using preapproved retirement plan documents to sign an updated version.

In a report to Congress, the agency says the program will likely run out of money by 2025.

The agency has asked an appellate court to reverse a district court’s dismissal of the case.

The suit says misrepresentations about complex investments such as residential mortgage-backed securities contributed to major losses for the nation’s two largest public pension funds.

A federal district court found that Merrill Lynch was not acting as a fiduciary under ERISA.