Compliance

Employer Cleared of ERISA Violations in Firings

January 4, 2008 (PLANSPONSOR.COM) - A federal judge in Philadelphia has cleared a building materials manufacturer of wrongdoing in firing a half dozen sales representatives for violating its travel expense policy.

Pre-Nup Pact Not an ERISA Benefits Waiver

January 4, 2008 (PLANSPONSOR.COM) - Because a 401(k) participant's widow had not yet married her husband when she signed a prenuptial agreement giving up her rights to her husband's retirement benefits, the widow was still entitled to the money.

New Retirement Age Rule Does not Change Ruling on Plan's Definition

January 3, 2008 (PLANSPONSOR.com) - The U.S. District Court for the Northern District of Illinois has determined that a new regulation governing the definition of normal retirement age does not change its earlier ruling that a cash balance plan did not violate the Employee Retirement Income Security Act (ERISA) by defining normal retirement age in terms of vested years of service.

Widow of Bee Sting Victim Loses Benefit Fight

January 3, 2008 (PLANSPONSOR.com) - The administrator of an accidental death benefit plan was within its rights in deciding that the widow of a participant who died after suffering an allergic reaction to a bee sting was not due a benefit payout, a federal appellate court has decided.

Current ESOP Participant can Represent Former Participants in Suit

January 3, 2008 (PLANSPONSOR.com) - The U.S. District Court for the Eastern District of California has determined that a current participant in an Employee Stock Ownership Plan (ESOP) can adequately represent a class that includes former, cashed-out participants in a fiduciary breach suit.

IRS Publishes Company Stock Diversification Guidance

January 3, 2008 (PLANSPONSOR.com) - In an effort to enact Pension Protection Act (PPA)-mandated changes, the Internal Revenue Service (IRS) has put out a proposed regulation generally barring restrictions on publicly-traded employer stock investments in defined contribution plans.

IRS Publishes Company Stock Diversification Guidance

January 3, 2008 (PLANSPONSOR.com) - In an effort to enact Pension Protection Act (PPA)-mandated changes, the Internal Revenue Service (IRS) has put out a proposed regulation generally barring restrictions on publicly-traded employer stock investments in defined contribution plans.

Bush Signs Sudan Divestment Bill into Law

January 2, 2008 (PLANSPONSOR.com) - President Bush signed legislation on Monday that makes it easier for mutual funds and private pension funds to sell their investments in companies doing business with Sudan.

Bush Vetoes FMLA Expansion for Military Families

January 2, 2008 (PLANSPONSOR.com) - Contrary to indications, President Bush has vetoed a bill that included an expansion of the Family and Medical Leave Act (FMLA) for certain family members of military personnel.

DBSummit07: "After" Math

As Nevin Adams, Editor-in-Chief of PLANSPONSOR magazine, put it, with any new legislation, there's the "figuring out what's there," and there's the "aftermath (figuring out what we don't know)."

DBSummit07: "After" Math

As Nevin Adams, Editor-in-Chief of PLANSPONSOR magazine, put it, with any new legislation, there's the "figuring out what's there," and there's the "aftermath (figuring out what we don't know)."

PBGC Asks Court to Terminate Racing Association Pension Plans

December 31, 2007 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) announced it has initiated court action to protect the benefits of more than 1,700 workers and retirees covered by the pension plans of the New York Racing Association Inc. (NYRA), a nonprofit corporation that operates the Aqueduct, Belmont, and Saratoga racetracks under a New York state franchise.

Appellate Court Does About Face on UPS Discrimination Case

December 31, 2007 (PLANSPONSOR.COM) - A federal appellate court has thrown out its earlier ruling in a discrimination case against the United Parcel Service (UPS) and set out a standard for how employers can defend themselves against allegations of discrimination against the disabled.

San Francisco Appeals Ruling on Health Care Ordinance

December 31, 2007 (PLANSPONSOR.com) - A day after the U.S. District Court for the Northern District of California determined that San Francisco's new health care security ordinance is preempted by the Employee Retirement Income Security Act (ERISA), the city is seeking an emergency stay pending appeal of the ruling, BNA reports.

Court Dismisses WaMu Cash Balance Plan Discrimination Claim

December 31, 2007 (PLANSPONSOR.com) - The U.S. District Court for the Western District of Washington has dismissed claims by a group of Washington Mutual employees that the company's cash balance plan benefit formula discriminates against participants based on age.

IRS Applies PPA Changes to Cash Balance Regs

December 31, 2007 (PLANSPONSOR.COM) - The Internal Revenue Service has updated its regulations on the tax treatment of cash balance plans to include changes made by the Pension Protection Act (PPA).

Judge Delays Oregon Domestic Partner Law

December 31, 2007 (PLANSPONSOR.COM) - Declaring that he needed more information about how Oregon state officials turned away gay rights opponents' civil unions ballot initiative request, a federal judge has ordered the state not to implement its domestic partnership law.