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).
Compliance
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...
U.S. Airways Employees Owed Interest for Delayed Pension Payments
April 3, 2012 (PLANSPONSOR.com) – A federal appellate court affirmed a ruling that a 45-day delay in making a lump-sum payment from a U.S. Airways pension plan is...
Employer to Pay for Failing to Monitor RK Costs
April 3, 2012 (PLANSPONSOR.com) – A court found ABB Inc. and Fidelity breached some fiduciary duties owed to participants in ABB’s retirement plans.
BP Stock Drop Suit Dismissed
April 2, 2012 (PLANSPONSOR.com) – A lawsuit against BP Plc North America relating to company stock investments in its retirement plans was dismissed.
Purchaser of Company Liable for Unpaid Pension Contributions
March 30, 2012 (PLANSPONSOR.com) – A federal court has found that a company is liable for the multiemployer pension plan contributions unpaid by a firm the company purchased.
EEOC Issues Final Rule Under ADEA
March 30, 2012 (PLANSPONSOR.com) - The U.S. Equal Employment Opportunity Commission (EEOC) issued the final regulation on Disparate Impact and Reasonable Factors Other than Age (RFOA) under the Age...
Court Certifies Class in 'Change in Control' Case
March 30, 2012 (PLANSPONSOR.com) – A class of former participants in the Anheuser-Busch Companies Pension Plan can move forward with a claim for benefits.