HOME Act Eases 401(k) Access for Mortgage Payments
October 10, 2011 (PLANSPONSOR.com) – A pair of Georgia legislators have introduced a bill that would open up 401(k) accounts to help make mortgage payments.
Compliance
DoL Sues Doctor for Loans from Plan
October 7, 2011 (PLANSPONSOR.com) – The U.S. Department of Labor has sued an Alabama medical office and its physician owner for using profit sharing plan assets to fund...
Court Dismisses Stock Drop Claims against Lehman Brothers
October 7, 2011 (PLANSPONSOR.com) – The U.S. District Court for the Southern District of New York has ruled that Lehman Brothers did not violate its fiduciary duties...
IRS Updates Procedure for Opinion and Advisory Letters
October 5, 2011 (PLANSPONSOR.com) - The Internal Revenue Service released Revenue Procedure 2011-49, on new requirements for sponsors of pre-approved plans seeking opinion and advisory letters that the...
NLRB Postpones Implementation Date for Notice Posting Rule
October 5, 2011 (PLANSPONSOR.com) - The National Labor Relations Board (NLRB) has postponed the implementation date for its new notice-posting rule to Jan. 31, 2012.
Court Rules COBRA Notification Required When Employment is Terminated
October 5, 2011 (PLANSPONSOR.com) – The U.S. District Court of New Jersey ruled that notification of an employee’s right...
IRS Publishes Rules on Business Expenses
October 4, 2011 (PLANSPONSOR.com) – The Internal Revenue Service has issued Revenue Procedure 2011-47 which provides rules for employees, volunteers, and partners who are reimbursed for lodging, meals,...
NLRB Supports Car Dealership Facebook Firing
October 4, 2011 (PLANSPONSOR.com) - A National Labor Relations Board Administrative Law Judge ruled that Knauz BMW, a Chicago area car dealership, did not wrongfully terminate an employee...
Ricoh Hit With Class Action Suit Over Unpaid Worker Expenses
October 2, 2011 (PLANSPONSOR.com) – Ricoh Americas Corp. was hit with a class action suit alleging the company failed to reimburse employees for work-related expenses, reports Law360.
Aaron's Manager Acquitted Despite $95M Civil Assault Verdict
October 2, 2011 (PLANSPONSOR.com) – A former Aaron’s Rents Inc. store manager was acquitted of charges that he sexually assaulted an employee, reports Law360.
ASPPA Recommends Self Correction for Late Deferral Deposits
September 30, 2011 (PLANSPONSOR.com) – In a letter filed with the U.S. Department of Labor’s (DoL) Employee Benefit Security Administration (EBSA) on the Voluntary Fiduciary Correction Program, the...
PBGC Takes on Pensions of Chicago Bank
September 30, 2011 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) will pay the retirement benefits of more than 580 workers and retirees of Chicago-based Corus Bankshares, Inc.,...
Obama Administration Asks for High Court Review of Health Care Law
September 29, 2011 (PLANSPONSOR.com) - The Obama administration asked the Supreme Court to hear its appeal of a decision by the 11th U.S. Circuit Court of Appeals which...
DoL Adopts New Standard for SOX Whistleblower Cases
September 29, 2011 (PLANSPONSOR.com) - The U.S. Department of Labor’s Administrative Review Board (ARB) adopted a new standard governing “adverse employment actions” under Section 806 of the Sarbanes-Oxley...
5th Circuit Sends Back Case for Review of Disclosure Statutory Penalties
September 28, 2011 (PLANSPONSOR.com) – A federal appellate court has determined that employer Houston Poly Bag I, Ltd., by withholding profit sharing plan documents and rollover information, failed...
Court Rules in Favor of Alcon Laboratories in Wrongful Termination Case
September 28, 2011 (PLANSPONSOR.com) – The U.S. District Court for the Northern District of Ohio ruled in favor of Alcon Laboratories, Inc. in a case in which a former...
Florida Bank Wins Dismissal of Stock Drop Suit
September 28, 2011 (PLANSPONSOR.com) – A federal court has dismissed claims that trustees and directors of Orion Bancorp’s Employee Stock Ownership Plan breached their fiduciary duties under the...
Court Rules in Favor of Insurance Company in LTD Case
September 28, 2011 (PLANSPONSOR.com) - The U.S. District Court for the District of Southern New York has ruled in favor of Hartford Life and Accident Insurance in a...
Court Rules in Favor of Insurance Company in LTD Case
September 28, 2011 (PLANSPONSOR.com) - The U.S. District Court for the District of Southern New York has ruled in favor of Hartford Life and Accident Insurance in a...
Bill Introduced to Ensure Pension Plans Can Use Swaps
September 28, 2011 (PLANSPONSOR.com) – Representative Francisco Canseco (R-Texas) introduced a bill to ensure pension plans can use swaps to hedge risks and for other purposes.