Medical Supply Consultant President Pleads Guilty to Plan Theft
January 12, 2011 (PLANSPONSOR.com) - James K. Edler, Jr. has been sentenced to 40 months in prison for charges arising from three separate indictments.
Compliance
Health Plan TPA Ruled ERISA Fiduciary
January 11, 2011 (PLANSPONSOR.com) – A third-party administrator committed a fiduciary breach when it paid its expenses with funds supposed to be used for benefit claims in a...
U.S. Representative Introduces Bill to Repeal Dodd-Frank
January 7, 2011 (PLANSPONSOR.com) – Representative Michele Bachmann (R-Minnesota) has introduced new legislation, H.R. 87, to repeal the Dodd-Frank financial reform bill.
IRS Declares ESOP not Tax Qualified
January 7, 2011 (PLANSPONSOR.com) – The U.S. Tax Court has upheld a decision by the Internal Revenue Service (IRS) that an employee stock ownership plan (ESOP) and its employee...
Participants Lose Second Attempt in Medtronic Stock Suit
January 7, 2011 (PLANSPONSOR.com) – After filing an amended complaint, participants of Medtronic Inc.’s retirement plan failed to convince the court that the company breached its fiduciary duties...
Court Allows Ambac Stock Drop Case to Proceed
January 7, 2011 (PLANSPONSOR.com) – Unlike many of his judicial brethren, a federal judge in New York has rejected claims that plan fiduciaries are effectively immunized against stock...
Ryan Calls PPACA a “Fiscal Train Wreck”
January 6, 2010 (PLANSPONSOR.com) – The Congressional Budget Office (CBO) may think repealing health care reform would cost billions, but a prominent Republican says it’s...
2010 Form M-1 Now Available
January 6, 2011 (PLANSPONSOR.com) - The U.S. Department of Labor’s Employee Benefits Security Administration says the 2010 Form M-1 annual report for multiple employer welfare...
CBO: Repealing Health Care Law Would Increase Federal Deficits
January 6, 2011 (PLANSPONSOR.com) - As a result of changes in direct spending and revenues, the Congressional Budget Office expects that enacting the proposed repeal of the health...
Ex-Business Owners on the Hook for Plan Losses
January 6, 2011 (PLANSPONSOR.com) – The former owners of a St. Paul, Minnesota, business services company are jointly liable for repaying losses to the company’s retirement plan after...
An “Extra” Day for Tax Filing?
January 5, 2010 (PLANSPONSOR.com) – Even though April 15 falls on a Friday this year, the Internal Revenue Service (IRS) says that individual taxpayers will...
Fees the Focus of EBSA Regulatory Agenda
January 4, 2011 (PLANSPONSOR.com) – In a live Web chat discussing the pension initiatives appearing in the Department of Labor’s Employee Benefits Security Administration’s (EBSA)
Nevada High Court Reinstates Casino Worker Civil Suit
January 4, 2011 (PLANSPONSOR.com) – The Nevada Supreme Court has revived a lawsuit filed by an employee of a Las Vegas casino against a casino security guard, saying Nevada...
GOP Announces Plans to Repeal Health Care Law
January 4, 2011 (PLANSPONSOR.com) – Among the bills and resolutions scheduled for consideration in the next couple of weeks by House Republicans is one to repeal the health...
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...
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...