Court Revisits Ruling in Light of Dudenhoeffer Decision
The 9th U.S. Circuit Court of Appeals has revisited its ruling in a retirement plan stock drop suit in light of the U.S. Supreme Court’s decision in Fifth...
Compliance
PBGC Secures $39M for Pension from Foreign Parent Company
After a lengthy court battle, the Pension Benefit Guaranty Corporation (PBGC) received a pension settlement from a Japanese parent company.
MassMutual Agrees to Settle Revenue Sharing Lawsuit
Massachusetts Mutual Life Insurance Company (MassMutual) has agreed to settle a lawsuit brought by a 401(k) plan sponsor alleging the company breached its fiduciary duties when it received...
DOL Files $7M Improper Investment Suit
The Department of Labor filed a lawsuit to restore $7 million to participants in two Wheeling, West Virginia-based retirement plans, following alleged misconduct by plan fiduciaries.
Enforcing Plan Limits for 403(b)s Not So Simple
There are unique rules for 403(b) plans that make enforcing contribution and benefit limits not so straightforward.
A Review of PBGC Reportable Events
There are certain events that defined benefit (DB) plan sponsors are required to report to the Pension Benefit Guaranty Corporation (PBGC) before they happen.
Court Finds Plan Can Dictate Where Lawsuits Are Filed
A federal appellate court found that a clause in a retirement plan document restricting the venue of lawsuits filed against the plan is enforceable.
Plan Fiduciaries Liable for Mispriced ESOP Stock Purchase
The owner of Bruister and Associates and trustees of its employee stock ownership plans (ESOPs) were found responsible for causing the plan to pay too much for employer...
EEOC Challenges Wellness Program Penalties
October 31, 2014 (PLANSPONSOR.com) – The Equal Employment Opportunity Commission has asked a federal court to stop an employer in Michigan from imposing penalties on employees who do...
PBGC Announces 2015 Premium Rates
October 30, 2014 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) has updated its website with premium rates for 2015.
Attorney Explains TDF Annuity Rule
October 29, 2014 (PLANSPONSOR.com) – What does the new guidance about annuity investments in target-date funds (TDFs) mean for retirement plan sponsors and participants?
PBGC Steps In To Assist Struggling Multiemployer Plans
October 28, 2014 (PLANSPONSOR.com) — The Pension Benefit Guaranty Corporation (PBGC) has sent an initial installment of more than $284,000 to cover benefits for 365 people in two...
Some Context Around 2015 Deferral Limit Increases
October 28, 2014 (PLANSPONSOR.com) – A $500 increase in the annual elective deferral maximum for defined contribution retirement plans may seem small, but one expert sees important implications...
PBGC Announced Benefit Maximum Increase
October 27, 2014 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) increased the annual maximum guaranteed benefit for a 65-year-old retiree in a single-employer plan to $60,136 for...
Regulators Doing More to Ensure Plan Compliance, Outcomes
October 27, 2014 (PLANSPONSOR.com) – Recent actions from regulators show a focus on compliance and improved outcomes for participants.
Industry Groups Endorse In-Plan Annuity Guidance
October 27, 2014 (PLANSPONSOR.com) – Recent guidance from the Internal Revenue Service and the Department of the Treasury on in-plan annuity use has received a warm response from...
Court Revives Age Bias Case Related to Health Benefit Costs
October 24, 2014 (PLANSPONSOR.com) – A federal appellate court has revived a lawsuit in which a woman claims she was fired from her job due to her age...
Guidance Issued for Including Annuities in TDFs
October 24, 2014 (PLANSPONSOR.com) – The Department of the Treasury and the Internal Revenue Service have issued guidance designed to expand the use of income annuities in 401(k)...
Senior Senators Urge Government Action on Pension De-Risking
October 24, 2014 (PLANSPONSOR.com) – Two senior U.S. senators are petitioning the government agencies that oversee qualified retirement plans to more actively protect pension plan participants’ rights during...
Another Church Plan Lawsuit Is Filed
October 24, 2014 (PLANSPONSOR.com) – Employees and retirees of Daughters of Charity Health System filed a class action lawsuit alleging that Daughters evaded federal pension law requirements by...