J.P. Morgan Cleared of Charges for Lehman Investments
April 24, 2012 (PLANSPONSOR.com) – J.P. Morgan Chase (JPMC) did not breach its fiduciary duties to a pension plan by investing the plan's assets in Lehman Brothers notes...
Compliance
Court Refuses to Dismiss Claims over Misplaced Transfer
April 18, 2012 (PLANSPONSOR.com) - A federal court decided neither a plan participant nor ConAgra Foods retirement plan and committee have met its summary judgment burden in a...
Court Moves Forward Excessive Fee Claims Against John Hancock
April 18, 2012 (PLANSPONSOR.com) - The 3rd U.S. Circuit Court of Appeals has reversed a lower court's decision about excessive fee claims against John Hancock.
IRS Seeks Comments on Government Plan Retirement Age
April 18, 2012 (PLANSPONSOR.com) - The Internal Revenue Service (IRS) and the Treasury Department will issue guidance on the...
Experts Share Testimony at Ways and Means Hearing
April 17, 2012 (PLANSPONSOR.com) - The House Committee on Ways and Means heard testimony on tax-favored retirement accounts on Tuesday.
How to Regain Tax-Exempt Status
April 17, 2012 (PLANSPONSOR.com) - In June of 2011, the Internal Revenue Service (IRS) revoked the tax-exempt status of approximately 275,000 organizations because these organizations failed to file...
Morgan Keegan Ordered to Pay 10 Pension Plans
April 16, 2012 (PLANSPONSOR.com)—Morgan Keegan and Co. Inc. agreed to pay $633,715.46 to 10 pension plans covered by the Employee Retirement Income Security Act (ERISA).
Appeals Court Affirms U.S. Steel Did Not Violate ERISA
April 16, 2012 (PLANSPONSOR.com) - The 6th U.S. Circuit Court of Appeals affirmed a district court’s ruling that United...
Participant Education Needed Before 404(a)(5) Deadline
April 16, 2012 (PLANSPONSOR.com) - If retirement plan participants are not educated about 404(a)(5), they may be surprised by their first quarterly statement under the new regulation.
Ameriprise Wins Excessive Fees Case
April 12, 2012 (PLANSPONSOR.com) – A federal appellate court reversed its stance in a case alleging Ameriprise charged mutual fund investors excessive fees.
Retiree Loses Bid to Recover 2008 Losses
April 11, 2012 (PLANSPONSOR.com) – A dentist was adhering to his fiduciary duty to 401(k) plan participants when he decided to wait until a December 31, 2008, plan...
Northwest’s Pilots Pension Plan Found Non-Discriminatory
April 10, 2012 (PLANSPONSOR.com) – A federal appellate court found Northwest Airline’s post-bankruptcy pension plan for pilots does not discriminate based on age.
Sponsors Seek Guidance About 404(a)(5) Electronic Disclosures
April 9, 2012 (PLANSPONSOR.com) – Plan sponsors will need to comply with the Department of Labor’s (DOL) 404(a)(5) regulation by August 30, 2012, yet many are unsure of...
Maine Allows Pension Forfeiture for Public Employee Criminals
April 9, 2012 (PLANSPONSOR.com) - A bill allowing Maine courts to order the forfeiture of retirement benefits for a state employee convicted of a crime has been signed...
Court Moves Forward Claims Over BNY Mellon Mortgage Bonds
April 6, 2012 (PLANSPONSOR.com) – BNY Mellon was successful in getting some claims dismissed in a lawsuit about its mortgage bond investments, but others will proceed.
Court Moves Forward Claims Over BNY Mellon Mortgage Bonds
April 6, 2012 (PLANSPONSOR.com) – BNY Mellon was successful in getting some claims dismissed in a lawsuit about its mortgage bond investments, but others will proceed.
Plan Sponsors Should Not Delay Preparing for 404(a)(5)
April 6, 2012 (PLANSPONSOR.com) - With all the attention surrounding the 408(b)(2) regulation, some industry experts think preparation for 404(a)(5) is falling by the wayside.
Court Rules on Eligibility of Benefits for University Employees
April 6, 2012 (PLANSPONSOR.com) – A court found that University of Chicago employees were not eligible for retirement plan benefits based on their part-time status.
Explore General Ordered to Restore 401(k) Funds
April 4, 2012 (PLANSPONSOR.com) - Fresno, California-based Explore General Inc. and Jaime M. Gonzalez were ordered to restore $519,601 to the company’s 401(k) profit-sharing plan.
Gotbaum Encourages Traditional Pension Offerings
April 4, 2012 (PLANSPONSOR.com) - Individuals need to save more; employers must provide retirement plans and contribute to them; and the government should work to strengthen the retirement...