PBGC Will Pay Pensions Owed by Newsprint Producer
August 21, 2012 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) will pay retirement benefits for nearly 1,300 current and future retirees of SP Newsprint Co.
Compliance
DOL Sues Auto Supplier for Diverting Retirement Assets
August 20, 2012 (PLANSPONSOR.com) - The U.S. Department of Labor is suing to restore $34.6 million in assets to two pension funds for employees of auto supplier Metavation.
Stepchildren Not “Children” for Purposes of Death Benefit
August 20, 2012 (PLANSPONSOR.com) – A federal appellate court has determined a plan administrator was right in bypassing a deceased retirement plan participant’s stepchildren when distributing his account.
Model Portfolio Guidance Should Not Be Ignored
August 16, 2012 (PLANSPONSOR.com) - All the controversy regarding the Department of Labor’s (DOL’s) guidance about fee disclosures for brokerage windows may have overshadowed its guidance for model...
PBGC to Begin Back Payments for United Airlines Retirees
August 15, 2012 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) announced its completion of corrective work for United Airlines retirees’ pension amounts.
State Department Cannot Force Out Worker at Age 65
August 14, 2012 (PLANSPONSOR.com) – A federal court has found that the Secretary of State cannot fire a contracted overseas worker just because the worker turns 65.
Successor Employer Bound to Retiree Health Benefits by CBAs
August 9, 2012 (PLANSPONSOR.com) – A federal appellate court has agreed that retirees of a window furnishings manufacturer and their dependants are entitled to employer-paid health benefits for...
Overestimate of Pension Benefit Not a Fiduciary Breach
August 3, 2012 (PLANSPONSOR.com) – A recent Employee Retirement Security Act (ERISA) court case demonstrates the importance of disclaimers in retirement plan communications.
NYC Sued for Military Member Police Officers’ Pensions
August 3, 2012 (PLANSPONSOR.com) – A U.S. Attorney has filed a class action lawsuit against the City of New York, the New York City Police Department (NYPD), and...
EBSA Hosts COBRA Workshop in Portland
August 3, 2012 (PLANSPONSOR.com) - The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is offering a COBRA workshop in Portland, Oregon.
Vending Company President Charged with Embezzlement
August 2, 2012 (PLANSPONSOR.com) - The former president of a Wisconsin company and trustee of its 401(k) plan has been charged with embezzling from the plan.
Court Moves Forward Request for Benefit Calculation Details
August 2, 2012 (PLANSPONSOR.com) – A federal judge has determined that retirement plan participants have a right to sue a plan sponsor that does not provide details used...
Plan Providers Sued for “Unsuitable” Retirement Program
August 2, 2012 (PLANSPONSOR.com) – Two small businesses and participants in their retirement plans are suing fiduciaries who gave them investment advice and administered the plans.
IRS Issues Guidance for Notices of Benefits Limitations
August 2, 2012 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has issued guidance for certain defined benefit (DB) plans that must place limitations on benefits.
Revenue-Sharing Fee Analysis Now Available at Participant Level
July 31, 2012 (PLANSPONSOR.com) - It is up to a plan’s investment committee to determine whether the cost of reimbursing revenue-sharing fees to each participant is effective—or prohibitive.
New DOL Guidance Provides Relief, But Concerns Remain
July 31, 2012 (PLANSPONSOR.com) - Plan fiduciaries will hopefully find relief in new guidance about participant fee disclosures for brokerage windows—but experts say concerns loom for brokerage window-only...
Groups Urge Court to Give Judicial Deference to Plan Administrator
July 31, 2012 (PLANSPONSOR.com) - Industry groups are urging a federal appellate court to uphold a ruling for judicial deference to a plan administrator in interpreting a plan under...
DOL Issues Clarification to Participant Fee Disclosure Guidance
July 30, 2012 (PLANSPONSOR.com) - The U.S. Department of Labor's Employee Benefits Security Administration issued Field Assistance Bulletin (FAB) No. 2012-02R, which supersedes Field Assistance Bulletin No. 2012-02.
ERISA Plans Given More Time to Comply with Swap Clearing
July 30, 2012 (PLANSPONSOR.com) – Employee Retirement Income Security Act (ERISA) retirement plans will have more time to comply with new rules concerning swaps.
Participants in ERISA-Regulated Plans Cannot Recover Funds From Madoff
July 27, 2012 (PLANSPONSOR.com) - A district court said those who invested funds through ERISA-regulated plans with Bernard L. Madoff Investment Securities LLC are ineligible to recover funds...