IRS Webcast Reveals Compliance Unit Activities
The IRS says the webcast will reveal what it’s learned from compliance activities.
Compliance
Court Holds Successor Liable for Pension Plan Withdrawal Payment
If the successor liability notice requirement excludes notice of contingent multiemployer pension plan liabilities, “a liability loophole would exist,” the 7th Circuit said.
How to Treat Lawsuit Awards and Settlements
There are no regulations providing guidance about this matter for retirement plans.
11th Circuit Reaffirms Delta Air Lines Stock Drop Victory
Circuit court sees no need to change a previous ruling in a stock drop case, reconsidered in light of the Supreme Court’s recent Fifth Third Bancorp v. Dudenhoeffer...
DOL Publishes Fiduciary Rule Hearing Schedule
The Department of Labor has released its agenda for next week’s public hearings to discuss the department’s proposed fiduciary rule changes.
IRS Employee Plans Unit to Cease Email Responses
The IRS employee plans unit will stop answering technical public questions shared via email in October.
N.J. Supreme Court Will Consider COLAs
Retirees in New Jersey’s public pension system could see cost of living adjustments restored by the state’s Supreme Court.
Terminated Participants Are Still Participants
Plan sponsor responsibilities to a retirement plan participant do not end when the participant terminates employment.
Lawmakers Press Perez to Redraft DOL Fiduciary Proposal
A group of mostly Republican Congressional representatives are urging Secretary of Labor Thomas Perez to scrap the current fiduciary rule proposal.
Mich. High Court Approves Forced Pension Contributions
The Michigan Supreme Court overturned a lower court ruling that said forcing state workers to put 4% of pay into the pension or move to a DC plan...
SEC Faces Its Own Debate on Fiduciary Advice Standards
Transcripts from a tough SEC hearing called earlier this month show it's not just the Department of Labor considering changes to the application of the fiduciary standard.
Judge Finds Halt to Union Plan Contributions Unlawful
A judge has found that a professional employer organization violated the law when it stopped pension plan contributions after a union labor contract expired.
No Individual Harm Means No Claim Against Pension Plan
A federal appellate court says a defined benefit plan beneficiary has no standing to sue the plan if he cannot prove individual harm.
PBGC Proposes Changes to Reporting Requirements
The agency says funding relief prevents it from getting all information it needs to help plans.
Commenters Express Concerns About Fiduciary Rule
With Tuesday’s deadline to submit comment letters about the fiduciary rule proposal, the Department of Labor received a flood of responses.
DOL Sues for 401(k) Fringe Benefit Contributions
The agency says $108,000 in fringe benefit contributions were not forwarded to the Brunk Industries Contractors and Employees 401(k) Plan.
IRS Revises Determination Letter Program
Going forward, individually designed retirement plans may only receive a determination letter for initial plan qualification and for qualification upon plan termination.
PBI Bank Settles with DOL over ESOP Transaction
PBI Bank will no longer serve as a trustee or service provider for any plan covered by ERISA, with a few exceptions.
SIFMA Comments Support Commission Accounts
Eight comment letters to the DOL address SIFMA’s concerns about the fiduciary redefinition, including what it sees as an unfair position on commission-based accounts.
Certain Federal Workers Get Relief from Withdrawal Penalty
President Obama signed a law lowering the age at which federal public safety officers can tap retirement accounts without penalty.