Council Recommends More Audit Relief for 403(b)s
April 26, 2011 (PLANSPONSOR.com) – The ERISA Advisory Council has recommended that the Department of Labor provide administrators of 403(b) plans with an additional year to file their...
Compliance
High Court Denies Expedited Review of Health Care Law
April 25, 2011 (PLANSPONSOR.com) - The U.S. Supreme Court has refused to bypass the lower courts and take up a challenge to the constitutionality of the national health...
Law Firm Supports Making ESOP Valuators Fiduciaries
April 22, 2011 (PLANSPONSOR.com) – Unlike other commenters on the Department of Labor’s proposed redefinition of fiduciary, the law firm of Lewis, Feinberg, Lee, Renaker & Jackson supports...
Lawmakers Introduce Legislation to Promote ESOPs
April 22, 2011 (PLANSPONSOR.com) – Congressman Ron Kind (D-Wisconsin) has introduced the "Promotion and Expansion of Private Employee Ownership Act of 2011."
ERIC Responds to Support for PBGC Setting Premiums
April 22, 2011 (PLANSPONSOR.com) – In a letter-to-the-editor of the Washington Post, ERISA Industry Committee (ERIC) President Mark Ugoretz said the group takes issue with a Post editorial...
Employee’s State Claim over Health Plan not ERISA Preempted
April 22, 2011 (PLANSPONSOR.com) – The 10th U.S. Circuit of Appeals has determined that a former employee who won damages in a previous Employee Retirement Income Security Act...
Council Finds Misunderstandings about Limited Scope Audits
April 22, 2011 (PLANSPONSOR.com) – The 2010 ERISA Advisory Council studied Employee Benefit Plan Auditing and Financial Reporting Models and found that deficiencies in limited scope audits of...
Council Offers Recommendations for Retirement Plan Audits
April 22, 2011 (PLANSPONSOR.com) – A report from the 2010 ERISA Advisory Council on a study of Employee Benefit Plan Auditing and Financial Reporting Models says the Council...
Fiduciaries Showing no Compliance with 404(c) Breached Duties
April 21, 2011 (PLANSPONSOR.com) – A U.S. appeals court has found that where Employee Retirement Income Security Act § 404(c) does not apply, fiduciaries can be liable for...
EEOC Ordered to Pay Fees for Company that Prevailed in Lawsuit
April 21, 2011 (PLANSPONSOR.com) - The Equal Employment Opportunity Commission (EEOC) has been sanctioned by a federal court in Michigan and ordered to pay more than $750,000 in...
PBGC Takes on Plan of Former Bank Holding Company
April 21, 2011 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation will cover the retirement benefits of nearly 2,600 employees and retirees of FBOP Corp. of Oak Park, Illinois.
ERIC Urges PBGC to Create Stakeholder Advisory Group
April 20, 2011 (PLANSPONSOR.com) - The ERISA Industry Committee (ERIC) has recommended the Pension Benefit Guaranty Corporation (PBGC) create a stakeholder advisory group.
Universities Ask for Pass on Municipal Adviser Registration Rule
April 19, 2011 (PLANSPONSOR.com) - Penn State and other institutions across the state and country are asking the U.S. Securities and Exchange Commission to reconsider new rules they...
Georgia Legislature Passes Illegal Immigrant Legislation
April 18, 2011 (PLANSPONSOR.com) - The Georgia state legislature passed immigration reform legislation (HB87) on April 14.
Abusive Retirement Plans Make IRS “Dirty Dozen” List
April 18, 2011 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has compiled its annual list of “dirty dozen” tax scams, including “abusive” retirement plans.
Obama Signs Repeal of HCR 1099 Reporting Requirement
April 15, 2011 (PLANSPONSOR.com) – President Obama has signed legislation rolling back a Form 1099 tax reporting provision included in last year's health care reform law.
States Must Face the Truth about Pensions to Fix Debts
April 15, 2011 (PLANSPONSOR.com) – Witnesses speaking before the U.S. House Committee on Oversight and Government Reform say current pension accounting practices are not giving states a true...
Governors Say Pension Reform an Answer to Government Debt
April 15, 2011 (PLANSPONSOR.com) – In a hearing this week before the U.S. House Committee on Oversight and Government Reform, the governors of Vermont and Wisconsin suggested pension...
ASPPA Asks for Retirement Plan Exemption from Adviser Rules
April 15, 2011 (PLANSPONSOR.com) - The American Society of Pension Professionals & Actuaries (ASPPA) and the National Tax Sheltered Accounts Association (NTSAA) expressed concern over how the application...
Court Rules Death Benefits Should Go to Estranged Ex
April 14, 2011 (PLANSPONSOR.com) – A federal court has found a deceased woman’s estranged ex-husband is due her employer-sponsored life insurance benefits.