Institute Raises Budget Concerns to Legislators
April 30, 2013 (PLANSPONSOR.com) – The SPARK Institute submitted a letter to legislators raising concerns about proposed 2014 budget provisions that could impact retirement savings.
Compliance
IRS Updates DB Forms and Documents
April 30, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has been updating a number of documents and forms for defined benefit (DB) plans.
IRS to Hold Call About 403(b) Corrections
April 30, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has scheduled a phone forum about 403(b) corrections and examination trends.
Employee Not Terminated Due to Age Discrimination
April 29, 2013 (PLANSPONSOR.com) – An appeals court ruled that an employer did not terminate an employee due to age discrimination.
7th Circuit Applies Presumption of Prudence to Marshall & Ilsley
April 29, 2013 (PLANSPONSOR.com) – The 7th U.S. Circuit Court of Appeals determined Marshall & Ilsley was entitled to a presumption of prudence for holding company stock in...
When Governmental Plans Need Private Letter Rulings
April 24, 2013 (PLANSPONSOR.com) – Governmental plan sponsors who apply for an Internal Revenue Service (IRS) determination letter cannot rely on a...
When Governmental Plans Need Private Letter Rulings
April 24, 2013 (PLANSPONSOR.com) – Governmental plan sponsors who apply for an Internal Revenue Service (IRS) determination letter cannot rely on a...
IRS to Discuss 401(k) Questionnaire Findings
April 24, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) is hosting a phone forum to discuss findings from its 401(k) Compliance Questionnaire.
Doctor Pleads Guilty to 401(k) Embezzlement
April 24, 2013 (PLANSPONSOR.com) – A doctor and owner of two medical facilities pleaded guilty to embezzlement from an employee benefit plan.
IRS Gives Amendment Relief to Certain ESOPs
April 23, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) is granting relief for employee stock ownership plans (ESOPs) that have to make amendments to satisfy diversification requirements.
IRS Gives Amendment Relief to Certain ESOPs
April 23, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) is granting relief for employee stock ownership plans (ESOPs) that have to make amendments to satisfy diversification requirements.
ASPPA Seeks Relief for Disclosure Deadline
April 22, 2013 (PLANSPONSOR.com) – The American Society of Pension Professionals & Actuaries (ASPPA) is requesting transitional relief for the Final Rule on Fiduciary Requirements for Disclosure in...
AUL’s Revenue-Sharing Practices No Fiduciary Breach
April 22, 2013 (PLANSPONSOR.com) – A federal appellate court has found in favor of American United Life Insurance Company (AUL) in a lawsuit challenging its revenue-sharing practices.
Ambulance Company Failed to Credit Employee Contributions
April 22, 2013 (PLANSPONSOR.com) – The U.S. Department of Labor (DOL) says a bankrupt ambulance services company in LaVergne, Tennessee, failed to credit employees’ 401(k) contributions.
Fidelity Accused of Self-Dealing in New Lawsuit
April 22, 2013 (PLANSPONSOR.com) – A lawsuit filed against Fidelity (FMR) accuses it of self-dealing at the expense of its own workers’ retirement savings.
“Top Hat” Plan Assets Not Protected by ERISA
April 19, 2013 (PLANSPONSOR.com) – A court ruled an executive’s supplemental retirement plan assets are not protected from his employer’s creditors.
PBGC to Take Plan of Glass Container Maker
April 18, 2013 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) will be taking responsibility for the defined benefit pension plan of Saint-Gobain Containers, Inc.
Countrywide Agrees to Settle with Pension Funds
April 17, 2013 (PLANSPONSOR.com) - Countrywide Financial proposed a settlement to a lawsuit over practices in the sale of mortgage-backed securities (MBS).
Cook County Pension Charged with USERRA Violations
April 17, 2013 (PLANSPONSOR.com) - The Justice Department filed a complaint in Illinois alleging a pension fund violated the Uniformed Services Employment and Reemployment Rights Act (USERRA).
Bill Would Encourage More S Corporation ESOPs
April 17, 2013 (PLANSPONSOR.com) – New legislation has been introduced in the Senate aimed at helping employees gain retirement savings and security through employee ownership.