Motorola Agrees to $100M Pension Payment
January 4, 2011 (PLANSPONSOR.com) – Motorola – now known as Motorola Solutions – has agreed to contribute an extra $100 million to its pension plan over five years...
Compliance
Judge Settles on Alliant Payout Interest Rate
January 4, 2011 (PLANSPONSOR.com) – A federal judge in Wisconsin has ordered Alliant Energy Corp. to use an 8.2% interest rate when it carries out lump-sum distributions from...
Government Plan Determination Letter Deadline Delay Sought
January 3, 2011 (Plansponsor.Com) – Two Washington lawyers have asked the Internal Revenue Service (IRS) to give government plans another year to comply with the “Cycle E” determination...
District Court Issues Order on Cash Balance Suit Damages
December 31, 2010 (PLANSPONSOR.com) – A federal judge has issued an order involving damages in a cash balance lawsuit – and it could be bigger...
IRS Releases 2011 Covered Comp Tables
December 29, 2010 (PLANSPONSOR.com) – The Internal Revenue Service has issued Revenue Ruling 2011-3 with the table of covered compensation for the 2011 plan year.
Lawyer Entitled to 401(k) Distribution
December 29, 2010 (PLANSPONSOR.com) – A lawyer accused of financial wrongdoing should receive a 401(k) distribution of his plan savings from his old law firm, but not the...
Supermarket Stock Drop Case Remains Alive
December 29, 2010 (PLANSPONSOR.com) – A federal judge in Pennsylvania has cleared the way for a 401(k) participant to pursue claims trustees violated their fiduciary duties by imprudently...
IRS Corrects Hybrid DB Plan Rule
December 28, 2010 (PLANSPONSOR.com) – Saying that a previous version of final regulations on hybrid defined benefit plans contain errors “that may prove to be misleading and are...
Court Finds Severance Plans Not ERISA Governed
December 28, 2010 (PLANSPONSOR.com) – A federal judge in Massachusetts has ruled that Alcatel-Lucent USA did not breach its Employee Retirement Income Security Act (ERISA) fiduciary duties through...
Regulators Put Out RFI for Value-Based Health Coverage Data
December 27, 2010 (PLANSPONSOR.com) – Federal regulators have issued a request for information (RFI) on how group health plans and health insurers can use value-based insurance design (VBID)...
Canadians Design New Private-Section Pension
December 27, 2010 (PLANSPONSOR.com) – Canadian provincial finance ministers have agreed on a framework for the Pooled Registered Pension Plan (PRPP), a private-sector retirement plan for small- and...
IRS Releases New FSA/HRA Guidance for 2011
December 23, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has put out new guidance allowing continued use of health flexible spending arrangement (FSA) and health reimbursement arrangement (HRA)...
House Abandons Bill to Extend Relief from DB Funding Rule
December 23, 2010 (PLANSPONSOR.com) - The U.S. House adjourned Wednesday without action on a bill passed by the Senate that would have created a one-year extension for relief...
Regulators Publish New Set of HCR FAQs
December 23, 2010 (PLANSPONSOR.com) – Federal regulators have issued the latest in a series of FAQs dealing with implementation of the market reform provisions of the Affordable Care...
DoL Wants Input on Break Time for Nursing Mothers
December 23, 2010 (PLANSPONSOR.com) – The U.S. Department of Labor has issued a Request for Information from the public regarding employers’ requirement to provide reasonable break time for...
NLRB Proposes Workplace Notice Rule
December 23, 2010 (PLANSPONSOR.com) – The National Labor Relations Board (NLRB) has proposed a rule requiring employers to display a workplace notice informing employees of their rights to...
IRS Offers Deduction Guidance on Payments to Insurance Providers by Highly Compensated
December 22, 2010 (PLANSPONSOR.com) - The Internal Revenue Service (IRS) has provided guidance on how to apply a section of the tax code that limits...
IRS Pushes Back PPACA Nondiscrimination Compliance Date
December 22, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has published a notice pushing back the timing for compliance with certain nondiscrimination requirements of...
Employer Hit with $6K ERISA Fine
December 22, 2010 (PLANSPONSOR.com) – A federal judge in Illinois has levied a $5,880 fine against an Illinois health care company for its delay in furnishing a summary...
EBSA Sets 2011 Hearing on Fiduciary Definition Change
December 22, 2010 (PLANSPONSOR.com) – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has announced a March 2011 hearing on a proposed rule changing the scope...