Report Says PBGC Calculations Flawed
May 29, 2012 (PLANSPONSOR.com) – Calculations in Pension Benefit Guaranty Corporation (PBGC) reports were wrong due to the lack of a quality control process, according to a Management...
Compliance
6th Circuit Affirms Dismissal of KeyCorp Stock Suit
May 29, 2012 (PLANSPONSOR.com) – The 6th U.S. Circuit Court of Appeals has upheld the dismissal of a stock drop lawsuit against KeyCorp for lack of standing.
Concerns Linger About Fee Disclosure Guidance
May 25, 2012 (PLANSPONSOR.com) - Some advisers say certain issues did not make the FAQs about fee disclosure in the Department of Labor’s recently issued field assistance bulletin.
Tempe School District Settles EEOC Suit
May 25, 2012 (PLANSPONSOR.com) – Tempe Elementary School District No. 3 has settled an employment discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC).
DOL Frees Assets for 401(k) Plan
May 24, 2012 (PLANSPONSOR.com) – Following a lawsuit, the U.S. Department of Labor appointed an independent fiduciary to manage a defunct New Jersey company’s 401(k) plan.
DOL’s Answer in Fee Disclosure Guidance “Surprising”
May 24, 2012 (PLANSPONSOR.com) - When reading Field Assistance Bulletin 2012-02, relating to participant fee disclosures, some industry experts are particularly surprised by the Department of Labor’s (DOL)...
Pension Fund’s Survivor Benefit Not Gender-Biased
May 23, 2012 (PLANSPONSOR.com) – A federal appellate court has ruled the San Diego City Employee Retirement System’s (SDCERS) survivor benefit does not disproportionately advantage male retirees.
IRS Asked for Relief Concerning Foreign Retirement Plans
May 21, 2012 (PLANSPONSOR.com) – A group of accountants has suggested the Internal Revenue Service change its rules for the reporting of income from foreign retirement accounts held...
DOL Recovers Retirement Plan Assets for Participants
May 21, 2012 (PLANSPONSOR.com) – Two companies have settled lawsuits with the Department of Labor (DOL), agreeing to restore retirement assets to participants.
Catholic Bishops Still Object to Contraception Coverage Rules
May 18, 2012 (PLANSPONSOR.com) – The U.S. Conference of Catholic Bishops (USCCB) says the exemptions put into the new health law’s contraception coverage rules are not enough.
DOL Notes a Change to Recent Fee Disclosure Guidance
May 18, 2012 (PLANSPONSOR.com) - The Department of Labor’s Employee Benefits Security Administration made a technical correction to recently released Field Assistance Bulletin No. 2012-02.
Plan Administrator Steals Retirement Funds to Purchase Resort
May 16, 2012 (PLANSPONSOR.com) - The U.S. Department of Labor has filed a complaint in a federal court in Idaho regarding a violation of the Employee Retirement Income...
DOL Recovers $1.3M for Pension Plan
May 15, 2012 (PLANSPONSOR.com) - The U.S. Department of Labor reached an agreement with a California fruit and nut company to restore $1,287,901 to the company’s pension plan.
11th Circuit Affirms Home Depot’s Stock Drop Case Win
May 14, 2012 (PLANSPONSOR.com) – A federal appellate court affirmed that Home Depot did not err in continuing to offer company stock in its retirement plan.
Boilermakers Pension Under Investigation
May 14, 2012 (PLANSPONSOR.com) – A grand jury is investigating complaints against the International Brotherhood of Boilermakers’ pension and benefits plans.
PBGC Takes New York Law Firm Pensions
May 11, 2012 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) will take responsibility for pension plans sponsored by Dewey & LeBoeuf LLP, a law firm based in...
Fee Disclosure Guidance Provides 403(b)s Comfort
May 11, 2012 (PLANSPONSOR (b)lines) – Recent fee disclosure guidance addresses some unanswered questions for 403(b) plans.
Former Detroit Officials Solicited Gifts from Investment Manager
May 9, 2012 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) charged former top Detroit officials in an influence peddling scheme.
EBSA Hosts Fiduciary Seminars in Boston and NYC
May 9, 2012 (PLANSPONSOR.com) – The Department of Labor’s Employee Benefits Security Administration (EBSA) scheduled two “Getting it Right: Know Your Fiduciary Responsibilities” seminars.
ASPPA Submits Recommendations for Lifetime Income Proposals
May 8, 2012 (PLANSPONSOR.com) – In a comment letter to the Internal Revenue Service (IRS), the American Society of Pension Professionals & Actuaries (ASPPA) applauded the agency’s efforts...