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...
Compliance
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.
Major Recordkeeper Targeted in Revenue-Sharing Lawsuit
Great-West, now doing business as Empower Retirement, has been accused of perpetrating a “revenue-sharing scheme” by one of its 401(k) clients.
Participants of Abandoned Plan Awarded $1.3M
The DOL has obtained judgment to distribute $1.3 million to participants in a Georgia 401(k) plan.
Commenters Express Concern About State-Run Retirement Plans
In comments to the DOL, the ARA and Voya Financial say the DOL’s proposal for state-run retirement plans for private-sector employees will create a lack of uniformity.
Overfunded Status Makes Case Against DB Sponsor Moot
DB plan participants alleged misconduct from 2007 to 2010 that caused the plan to become underfunded and at risk of insolvency.
SCOTUS Passes on ERISA Plan Lawsuit Venue Case
A lack of circuit court conflict has the Supreme Court passing on an important question related to qualified retirement plans: Can venue restriction clauses be enforced under the...
State Street Will Pay $12M in Pay-to-Play Case
The SEC charged the bank for a pay-to-play scheme to win contracts to service Ohio pension funds.
JP Morgan Granted Win in Stock Drop Suit
Participants in JP Morgan’s 401(k) plan failed to state a claim that the company acted imprudently by keeping company stock in the plan after a trading scandal.
No Clear Benefits Direction Given by President
For some in the employee benefits industry, what President Obama didn’t say in his State of the Union address was the concern.
PBGC Issues Final Rule for Multiemployer Plan Partitions
The final rule includes minor changes to an interim final rule issued last year in response to public comments.
Court Sides with Plan Sponsor in Wellness Program Challenge
Flambeau, Inc.’s requirement that employees participate in a wellness program to participate in its health plan is covered by an ADA safe harbor, a district court found.
Excessive Fee Claims Against Principal Dismissed
Among other things, the 8th Circuit found Principal’s adherence to its agreement with a plan sponsor does not implicate any fiduciary duty.
PBGC Releases Modified Reportable Events Forms and Instructions
On September 11, 2015, PBGC published a final rule that made significant changes to the prior regulation about reportable events.
Firm Ordered to Stop Asking Applicants Age Before Job Offer
The company had set an “ideal age range” for applicants.
IRS Guidance Shows Anticipation of Pre-Approved 403(b) Plans
The IRS has issued updated procedures for requesting letter rulings and has made changes to VCP fees.
'Largely Unpredictable' Which Sponsors Could be Sued by Participants
One attorney specializing in ERISA litigation suggests the pace of excessive fee lawsuits is gaining more momentum in 2016.
DC Plans Still Widely Targeted By Litigators
It may be a new calendar year for defined contribution (DC) retirement plans, but the professionals running them are still concerned with the same serious fiduciary risks that troubled...
IRS Issues New User Fee Schedule for Employee Plans
The agency has added references to 403(b) pre-approved plans in its user fee guidance.
Guidance Issued About IRS Determination Letter Program
The IRS is making changes to the program in anticipation of its elimination.