IRS to Discuss 403(b) Pre-Approved Document Program
June 30, 2014 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) will host a free phone forum about 403(b) retirement plans.
Compliance
GASB Offers Webinars on Fair Value Measurement Proposal
June 30, 2014 (PLANSPONSOR.com) – The Governmental Accounting Standards Board (GASB) has opened registration to webinars about its recent exposure draft, “Fair Value Measurement and Application.”
Presumption of Prudence Decision Not a Total Win for Anyone
June 26, 2014 (PLANSPONSOR.com) – The U.S. Supreme Court this week ruled employee stock ownership plan (ESOP) fiduciaries are not entitled to a presumption of prudence for keeping...
ESOP Fiduciaries Not Entitled to Presumption of Prudence
June 25, 2014 (PLANSPONSOR.com) – The U.S. Supreme Court has decided fiduciaries of employee stock ownership plans (ESOPs) are not entitled to any special presumption of prudence under...
SSA Updates Processing for Same-Gender Couples
June 23, 2014 (PLANSPONSOR.com) – The Social Security Administration (SSA) has published new instructions that allow the agency to process more claims in which entitlement or eligibility is...
Proposed FMLA Changes Would Expand Spouse Definition
June 23, 2014 (PLANSPONSOR.com) – The Department of Labor (DOL) is looking at expanding the protections of the Family and Medical Leave Act (FMLA) to cover eligible employees...
Firm Settles with SEC for Pay-to-Play Violations
June 23, 2014 (PLANSPONSOR.com) – TL Ventures Inc. has settled with the Securities and Exchange Commission (SEC) in a case involving pay-to-play rules for investment advisers.
Council Examining Practices for Outsourcing Plan Services
June 20, 2014 (PLANSPONSOR.com) – The Department of Labor’s (DOL) ERISA Advisory Council is examining practices for outsourcing employee benefit plan services.
EEOC Says Firm Revoked Job Offers for 70-Year-Olds
June 19, 2014 (PLANSPONSOR.com) – A firm that the Equal Employment Opportunity Commission (EEOC) accused of revoking job offers after learning the candidates’ ages will pay to settle...
Protect Fiduciaries with the Right Insurance
June 17, 2014 (PLANSPONSOR.com) – Just one type of fiduciary liability protection is required by the Employee Retirement Income Security Act (ERISA), but it’s not nearly enough, says...
New Bill to Encourage ESOPs Introduced
June 17, 2014 (PLANSPONSOR.com) - House Ways and Means Committee members introduced legislation designed to spur more employee-ownership in private industry.
Bill Would Increase Certain Social Security Payments
June 17, 2014 (PLANSPONSOR.com) – Two U.S. Senators have introduced the Retirement and Income Security (RAISE) Act.
IRS Relief No Delay of Compliance with FATCA
June 16, 2014 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) announced an enforcement transition period for the Foreign Account Tax Compliance Act (FATCA).
GASB Makes OPEB Exposure Drafts Available
June 16, 2014 (PLANSPONSOR.com) – The Governmental Accounting Standards Board (GASB) has released exposure drafts on other post-employment benefits (OPEB).
FINRA Fines Merrill Lynch Due to Sales Charges
June 16, 2014 (PLANSPONSOR.com) – The Financial Industry Regulatory Authority (FINRA) fined Merrill Lynch $8 million for failing to waive mutual fund sales charges for certain charities and...
Mass. Regulator Argues for Better Disclosures of Match Changes
June 16, 2014 (PLANSPONSOR.com) – In a report sent to Congress and the Department of Labor, the Massachusetts Securities Division (MSD) is asking for improved disclosures to retirement...
SCOTUS Rules Inherited IRAs Not Exempt in Bankruptcy
June 13, 2014 (PLANSPONSOR.com) – The Supreme Court of the United States (SCOTUS) upheld a lower court’s determination that inherited individual retirement accounts (IRAs) do not share the...
Last Defendant Settles in N.Y. ‘Pay-to-Play’ Case
June 12, 2014 (PLANSPONSOR.com) - A final judgment was entered against Saul Meyer in the enforcement action that arose from New York’s retirement fund corruption scandal.
Groups Weigh In on Proposed Fee Disclosure Regs
June 11, 2014 (PLANSPONSOR.com) – From excluding large plans to asking for wording that would prompt consultation with the plan adviser, organizations are petitioning...
Nonprofit Allowed to Exit Ky. Retirement System
June 10, 2014 (PLANSPONSOR.com) – A ruling by a federal bankruptcy court may set a precedent for various agencies to exit the Kentucky Retirement System (KRS), news reports...