Labor Union President Convicted of Pension Theft
December 6, 2012 (PLANSPONSOR.com) – The founder and president of the National Association of Special Police and Security Officers (NASPSO) was convicted of 18...
Compliance
DC Assets Withdrawn Fraudulently Not Forfeited
December 5, 2012 (PLANSPONSOR.com) – A retirement plan participant’s claim to benefits was not forfeited when the plan paid his account to his ex-wife, a court ruled.
Regulators Release Informational Form 5500s
December 4, 2012 (PLANSPONSOR.com) – Regulators released advance informational copies of the 2012 Form 5500 annual return/report and related instructions.
GM Participants Can Go Forward with State Street Suit
December 4, 2012 (PLANSPONSOR.com) – The U.S. Supreme Court has declined to review a stock drop case brought by General Motors Co. retirement plan participants against State Street.
ASPPA Petitions IRS for “Holdout” Rule Guidance
December 4, 2012 (PLANSPONSOR.com) – The American Society of Pension Professionals & Actuaries (ASPPA) asked the IRS to issue gui
IRS Announces Hurricane Relief Phone Forum
November 30, 2012 (PLANSPONSOR.com) – The IRS is holding a phone forum to discuss relaxed hardship and loan rules for victims of Hurricane Sandy.
Lawsuit Seeks to Stop Verizon Pension Buyout
November 30, 2012 (PLANSPONSOR.com) – A group of pensioners is seeking an injunction to halt the proposed transfer of $7.5 billion in Verizon pension obligations to Prudential.
DOL Sues Trustee for Purchasing Overvalued Stock
November 29, 2012 (PLANSPONSOR.com) – The U.S. Department of Labor (DOL) filed a lawsuit to recover losses by participants in an employee stock ownership (ESOP) plan.
Employer Not Guaranteed Refund of Overpaid Contributions
November 28, 2012 (PLANSPONSOR.com) – An employer is not guaranteed a refund of overpayments mistakenly made to a multiemployer plan.
PBGC Maximum Benefit Increases in 2013
November 27, 2012 (PLANSPONSOR.com) – The PBGC announced that the yearly maximum guaranteed benefit for a 65-year-old retiree will increase in 2013.
High Court Revives University’s Health Law Challenge
November 26, 2012 (PLANSPONSOR.com) – The U.S. Supreme Court granted a petition to rehear a case challenging the Patient Protection and Affordable Care Act (PPACA).
DOL Provides Post-Hurricane Compliance Relief
November 21, 2012 (PLANSPONSOR.com) – The Department of Labor (DOL) issued compliance information for employee benefit plans adversely affected by Hurricane Sandy.
Regulators Issue Guidance About Wellness Programs
November 21, 2012 (PLANSPONSOR.com) – The Departments of Health and Human Services (HHS), Labor and the Treasury jointly released proposed rules about...
EEOC Sues Auto Parts Co. for Age Discrimination
November 19, 2012 (PLANSPONSOR.com) – An automotive parts maker demoted and fired a group of employees because of age, the EEOC charged.
Groups Reject PBGC’s Call to Set Premiums
November 19, 2012 (PLANSPONSOR.com) – Industry groups say the Pension Benefit Guaranty Corporation’s (PBGC’s) reported deficit is misleading.
PBGC Reports Record Deficit for 2012
November 16, 2012 (PLANSPONSOR.com) – The PBGC noted its efforts to preserve pensions but that its deficit increased to $34 billion, the largest in its 38-year history.
IRS Allows for Hurricane Hardships
November 16, 2012 (PLANSPONSOR.com) – The IRS has relaxed employer-sponsored retirement plan loan and hardship withdrawal rules to help victims of Hurricane...
Participants Suing Plan Fiduciaries Sued As Co-Fiduciaries
November 15, 2012 (PLANSPONSOR.com) - Retirement plan fiduciaries found to have violated federal law claim some of the plaintiffs that sued them are also liable.
IRS Considering Multiemployer Plan Followup
November 15, 2012 (PLANSPONSOR.com) – The Employee Plans Compliance Unit (EPCU) of the Internal Revenue Service (IRS) summarized information from the multiemployer...
Plan Sponsors Need to Use Internal Controls
November 15, 2012 (PLANSPONSOR.com) – Effective internal controls are essential to prevent costly mistakes that can jeopardize a retirement plan’s tax-favored status.