Verizon Retirees Take PRT Challenge to Supreme Court
After seeing their pension risk transfer lawsuits dismissed in both district and circuit court, tens of thousands of former Verizon employees hope SCOTUS will have more sympathy.
Compliance
Union Fund Trustees Sued for Multiple Fiduciary Breaches
The International Association of Machinists National Pension Fund and its board of trustees are facing a lawsuit.
Health Benefits Dispute Sent Back to District Court Again
The 6th Circuit wants the district court to reconsider the vested retiree health benefits challenge in light of a Supreme Court decision about the case.
IRS to Discuss Required Retirement Plan Changes
The agency is hosting a webinar about the 2015 Cumulative List.
IRS Provides Guidance About Mid-Year Safe Harbor Plan Changes
The guidance includes prohibited changes to a safe harbor retirement plan.
Plan Document Updates May Be Needed After 'Montanile' Decision
ERISA expert discusses the significant implications of the Supreme Court’s decision in Montanile v. Board of Trustees, especially as it pertains to plan sponsors enforcing liens on retirement...
FASB Proposes Pension Accounting Changes
FASB says its objective is to improve the effectiveness of disclosures.
OMB Now Reviewing Fiduciary Rule Language
The Department of Labor has advanced its conflict of interest regulations to the Office of Management and Budget for final review.
IRS Proposes Nondiscrimination Relief for Closed DBs
The proposed rule will help closed DB plans continue to satisfy minimum coverage and other testing requirements.
Another Senator Suggests National Retirement Savings Plan
The proposal is modeled after the Federal government Thrift Savings Plan.
Hearing Witnesses Offer Retirement Initiative Recommendations
While applauding initiatives already announced, industry players encouraged federal lawmakers to consider further steps.
Portability Is Key in President’s Retirement Initiatives
“If we remove the friction, more plan participants will stay in the system,” says Spencer Williams, president and CEO of Retirement Clearinghouse.
Oracle Is Latest DC Plan Sponsor Targeted in Fee Suit
A new lawsuit filed by Schlichter, Bogard and Denton against Oracle Corporation for alleged mismanagement of the company’s 401(k) plan clearly echoes many of the complaints filed by the firm...
IRS Proposes Normal Retirement Age Rule for Governmental Plans
The agency has added more safe harbors to the normal retirement age requirements.
DOL Plans to Extend Opportunities for MEPs
The administration would like to enable employers to more readily access an open MEP, such as those from different sectors but a similar location, for example.
SCOTUS Again Remands Stock Drop Case
The Supreme Court returned Amgen’s ESOP case to the lower court for a second time.
SunEdison Faces Lawsuit Over Company Stock in Retirement Plan
The accusations are similar to those in many stock drop lawsuits.
Restaurant Manager Accused of Rejecting “Too Old” Job Candidates
The EEOC has filed an age bias suit against a Popeye's Louisiana Kitchen.
SCOTUS ‘Montanile’ Decision Means Lien Enforcement Must Be Quick
It is essential for plan sponsors to understand how liens work under ERISA—and how a recent Supreme Court decision puts serious time pressures on the collection of equitable...
Industry Groups Call Out Issues with State-Run Plan Proposal
ICI and SIFMA contend the DOL proposal for state-run retirement programs would result in a confusing patchwork of laws and other unintended consequences.