9th Circuit Revives Case for Consideration of Surcharge
A federal appellate court has sent a case back to a district court because the district court’s decision was made before a significant U.S. Supreme Court ruling.
Compliance
IRS Provides More Clarity on New Rollover Rule
The IRS has provided answers to questions received about the new single-distribution rule for rollovers from retirement plans.
Proposed Bill Aims to Encourage Retirement Plan Offerings
A U.S. Congressman has introduced a bill to encourage small businesses to offer retirement plans for employees.
GAO Recommends Changes to Automatic Cash-Out Rules
The GAO recommends an alternative to rolling over small retirement plan balances to individual retirement accounts (IRAs).
Addressing Mistakes in Tax Treatment of Employee Deferrals
An updated IRS web page tells retirement plan sponsors how to correct the mistake of using the wrong tax treatment of employee plan deferrals.
IRS Reminds Plan Sponsors About Plan Checklists
The Internal Revenue Service offers one-page checklists to help with reviewing retirement plan operations.
Regulators Got Real About In-Plan Annuities in 2014
With invigorated provider interest and new guidance from key regulators, 2014 turned out to be an important year for annuities in employer-sponsored retirement plans.
The Year in Regulation and Guidance
Several regulations and pieces of guidance issued in 2014 will have a lasting impact on retirement plans.
Treasury Issues Final Regs Underlying ‘myRA’ Program
The U.S. Treasury issued final regulations establishing a new type of electronic retirement savings bond designed to serve as the backbone of the president’s myRA program.
DOL Puts Out Form 5500 Advance Copies
Retirement plan sponsors get a glimpse of any changes in Form 5500 filing requirements from the newly released advance copies from the Department of Labor.
Pressure to Retire Leads to Age Bias Suit
The EEOC says a company fired two employees because of age after repeatedly pressuring them to retire.
Nationwide Settles 13-Year-Old Revenue Sharing Suit
After 13 years and a number of court opinions, all granting relief in the plaintiff’s favor, Nationwide has presented a motion to settle a lawsuit over its revenue-sharing...
Industry Groups Urge No Further Rules for Brokerage Windows
Responding to a request for information from the DOL, most industry groups said they believe no further regulation is necessary to govern use of brokerage windows in retirement...
Solicitor General Argues for Reversal of Tibble Decision
The U.S. Solicitor General filed a second brief with the United States Supreme Court supporting the plaintiffs in a closely watched case about 401(k) investment share classes and...
IRS Weighs In on What Records to Keep
An updated page on the IRS website shares what records retirement plan sponsors should keep and for how long.
IRS to Use New Process for PEP Determination Letters
The IRS says it has improved its processing of determination letter applications for pension equity plans.
Spending Bill Would Allow Pension Benefit Cuts
An amendment tacked on to the U.S House’s proposed spending bill would “permit trustees of severely underfunded [multiemployer] plans to adjust vested benefits.”
Bill Would Extend PPA Provisions for Multiemployer Plans
The U.S. House of Representatives has approved a bill that would extend funding and benefit rules for multiemployer plans.
IRS Issues 2014 Cumulative List, Extends DB Plan Approval Period
The Cumulative List will primarily be used by single employer individually designed defined contribution plans and single employer individually designed defined benefit plans that are in Cycle E.
Fiduciaries of Fake Union Plan Ordered to Pay $4.7M
A court determined the fake Professional Industrial Trade Workers Union was a front for a scheme to operate a purported, union-sponsored employee benefit plan.