2010 Roth Conversions Must be Reported in 2012
February 19, 2013 (PLANSPONSOR.com) - The Internal Revenue Service (IRS) reminded taxpayers who converted amounts to a Roth IRA or a designated Roth account in 2010 that in...
Compliance
DC Plan Withdrawal Guarantees and QJSA Rules
February 13, 2013 (PLANSPONSOR.com) – A question for providers of guaranteed minimum withdrawal benefit (GMWB) products is whether (and how) the qualified joint and survivor annuity (QJSA) rules...
Participant Cannot Exhaust Remedies Not Provided
February 12, 2013 (PLANSPONSOR.com) – An appellate court has ruled that a pension plan participant can pursue her claims in court because the plan document does not provide...
IRS Announces New Rates for DB Funding Calculations
February 12, 2013 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) issued guidance reflecting changes to pension funding calculations in the Moving Ahead for Progress in the 21st Century...
Fidelity Facing Suit Regarding Float Income
February 11, 2013 (PLANSPONSOR.com) – Participants from three 401(k) plans have filed a lawsuit against Fidelity Investments regarding its use of float income.
Another KeyCorp Company Stock Suit Dismissed
February 11, 2013 (PLANSPONSOR.com) – Another group of participants has failed to establish standing to sue KeyCorp for claims related to its 401(k) plan’s stock holdings.
ING Settles with DOL on Processing Error Policy
February 4, 2013 (PLANSPONSOR.com) – ING Life Insurance and Annuity Co. has agreed to settle allegations brought by the Department of Labor (DOL).
EBSA Schedules Fiduciary Seminar in San Francisco
February 4, 2013 (PLANSPONSOR.com) – The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) is offering its fiduciary responsibilities seminar to small businesses in San Francisco.
Pension Funds Sue BlackRock
February 4, 2013 (PLANSPONSOR.com) – Two pension funds are suing BlackRock and several of its iShares exchange-traded funds (ETFs) over excessive fees for securities lending transactions.
ESOP Challenged on Post-Recession Benefits Changes
February 1, 2013 (PLANSPONSOR.com) – Former employees of Jeld-Wen Inc. filed a lawsuit claiming an amendment to the firm’s employee stock ownership plan (ESOP) took away their benefits.
PBGC Takes Two Hawker Beechcraft Plans
February 1, 2013 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) will take two plans covering salaried employees under a settlement with...
Retirement Savings Hearing Witnesses Share What Works
January 31, 2013 (PLANSPONSOR.com) – Witnesses testifying before a senate committee shared the initiatives that are working and need to continue or grow to help workers save for...
PBGC Updates Reportable Events Guidance
January 31, 2013 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) issued updated guidance about reportable events.
PBGC Warns of Trouble for Multiemployer Program
January 30, 2013 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) has submitted several reports to Congress about its multiemployer pension plan program.
PBGC Sues Steel Company for Dumping Pension
January 29, 2013 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) filed a lawsuit seeking $97 million from The Renco Group Inc....
EBSA Updates Delinquent Filer Correction Program
January 28, 2013 (PLANSPONSOR.com) – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a notice describing changes to the Delinquent Filer Voluntary Compliance (DFVC)...
ASPPA Asks for Clarity About MEP Reporting
January 28, 2013 (PLANSPONSOR.com) – The American Society of Pension Professionals & Actuaries (ASPPA) is requesting clarification and transitional relief for filing...
DOL Requests Input About Benefit Statement Surveys
January 28, 2013 (PLANSPONSOR.com) – The Department of Labor (DOL) is soliciting comments about a proposed information collection request to guide rule-making...
EBSA Issues FAQs About Affordable Care Act
January 28, 2013 (PLANSPONSOR.com) – The Employee Benefits Security Administration (EBSA) has released additional Frequently Asked Questions (FAQs) regarding implementation of various provisions of the Affordable Care Act...
Court Strikes Down La. Cash Balance Plan
January 25, 2013 (PLANSPONSOR.com) – A Louisiana court has found the approval of a cash balance plan for future state workers to be invalid.