Legislators Hear Arguments About Fiduciary Reform
Hearings before two House Financial Services subcommittees add more commentary to the debate about the DOL's proposed fiduciary rule.
Compliance
PBGC Issues Final Rules for Reportable Events
PBGC anticipates about 94% of plans and sponsors will be exempt from many reporting requirements.
School Settles Age Bias Suit
The EEOC charged the school with discriminating against an employee after finding out he was previously retired from another job.
The Challenges of Picking a QDIA
Clarifying regulations could help plan sponsors choose plan investments, the GAO says.
Final Rules for DB Minimum Required Contributions Issued
The guidance also contains final excise tax regulations applicable to both single-employer and multiemployer defined benefit plans.
DOL Accuses ESOP Fiduciaries of Prohibited Transactions
A lawsuit says BAT Masonry was valued at $13 million less than what its ESOP paid for company stock.
Court Questions Ability to Recover Pension Overpayments
Questions about whether funds can be identified in the participant’s possession and when the statute of limitations started to accrue have pushed forward an ERISA lawsuit.
IRS Offers Up Rules for MPRA-Related Benefit Reductions
The IRS published temporary regulations and proposed final regulations governing the process of reducing benefit payments by distressed multiemployer retirement plans under MPRA.
DOL Seeks More than $1.6M in Losses for Profit Sharing Plan
A health care company filed no annual reports, did not perform valuations and took more than $1.6 million in improper distributions in violation of ERISA, the DOL alleges. ...
IRS Issues Guidelines for Cooperative and Small Charities Pensions
The Cooperative and Small Employer Charity Pension Flexibility Act specifies funding requirements for certain pensions that were not immediately affected by PPA funding rules.
Webcast to Cover Updates to IRS Employee Plans Programs
The agency is hosting a free webcast in which the determination letter program and new pre-approved plan document programs will be discussed.
Understanding the IRS Employee Plans Compliance Unit
EPCU projects are a kinder, gentler way to ensure retirement plans comply with regulations.
Boeing Settles ‘Spano’ Fee Case
Plaintiffs’ attorney in the case confirms provisional settlement has been reached in class action filed on behalf of 190,000 Boeing retirement plan participants.
Whistleblowers Remedied Following ERISA Challenge
The DOL says officials at Cement Masons Southern California Trust Funds illegally retaliated against a whistleblower who flagged ERISA violations.
Teachers File Lawsuit Against Kentucky Retirement System
The lawsuit alleges violations of state law, the Fair Labor Standards Act and the U.S. Constitution.
Certain Identity Theft Benefits Not Considered Taxable
The IRS says identity protection received as a result of a data breach will not be considered taxable benefits.
Court Affirms Dismissal of Verizon Pension Risk Transfer Suit
An appellate court ruled that the decisions to amend the plan and transfer certain assets to an annuity contract were settlor, not fiduciary, functions.
School District Suffers Data Breach During Audit
A flash drive containing information about 403(b) or 457(b) plan participants that was given to an IRS agent was lost.
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.