IRS Extends DB Amendment Deadline
November 30, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has extended the deadline for amending certain defined benefit plans as required by the Pension Protection Act (PPA)...
Compliance
IRS Offers Additional 409A Relief
November 30, 2010 (PLANSPONSOR.com) – The Internal Revenue Service has issued Notice 2010-80 providing additional relief for nonqualified deferred compensation plans covered under § 409A.
Ohio HCR Suit Partly Dismissed
November 30, 2010 (PLANSPONSOR.com) – A federal judge in Ohio has tossed out parts of a legal challenge to the health care reform law, but kept alive a...
Judge Tosses Fifth Third Stock-Drop Suit
November 30, 2010 (PLANSPONSOR.com) – A federal judge in Ohio has turned aside arguments in a stock-drop suit that Fifth Third Bancorp committed a fiduciary breach when it...
DoL Sues Trustee for Misuse of Plans’ Assets
November 29, 2010 (PLANSPONSOR.com) - The U.S. Department of Labor has sued trustee Colette Mordo for alleged misuse of more than $4.6 million in plan assets of the...
TPA Sentenced for False Statement on Form 5500
November 29, 2010 (PLANSPONSOR.com) - The U.S. Department of Labor’s Employee Benefits Security Administration announced that the owner of Philadelphia Pension Planning Corp. was sentenced to 15 months...
EBSA Unveils Target-Date Disclosure Proposal
November 29, 2010 (PLANSPONSOR.com) – Federal regulators on Monday released a long-awaited rule to require more disclosures about target-date funds.
IRS Offers Roth 401(k), 403(b) Guidance
November 29, 2010 (PLANSPONSOR.com) – On Friday the IRS issued Notice 2010-84, containing guidance for 401(k) and 403(b) plans about in-plan Roth rollovers.
IRS Provides Multiemployer Plan Funding Relief
November 29, 2010 (PLANSPONSOR.com) – On Friday the Internal Revenue Service provided some additional guidance on funding relief for multiemployer plans.
Child Loses Battle over 401(k) Distribution Taxes
November 24, 2010 (PLANSPONSOR.com) – A federal court has upheld a lower court ruling that the minor child of a woman who pleaded guilty to killing the child’s...
CA Bank Hit with Stock-Drop Complaint
November 24, 2010 (PLANSPONSOR.com) – FirstFed Financial Corp. employees have filed a stock-drop suit alleging the bank kept company stock in its employee stock ownership plan (ESOP) after...
NJ Court Reinstates DHL Hostile Workplace Suit
November 23, 2010 (PLANSPONSOR.com) – A New Jersey state appellate court has given a female plaintiff permission to move forward with allegations her former employer fostered a gender-based...
IRS Provides Guidance on Pre-Approved IRAs
November 23, 2010 (PLANSPONSOR.com) – In Revenue Procedure 2010-48, the Internal Revenue Service (IRS) provides guidance to drafters and users of pre-approved IRAs.
PBGC Praises Pulp Manufacturer Bankruptcy Agreement
November 23, 2010 (PLANSPONSOR.com) – Pulp and paper manufacturer AbitibiBowater has agreed to retain all four of its defined benefit pension plans as part of its bankruptcy reorganization.
Employer Cleared of Bias against Employee with Drinking Problem
November 23, 2010 (PLANSPONSOR.com) – A New Jersey appellate court has cleared a county employer of discrimination charges against a senior electrician who had his driver’s license suspended...
IRS: No Mandatory Withholding for In-plan Roth Rollovers
November 23, 2010 (PLANSPONSOR.com) – Plan sponsors who are allowing direct Roth rollovers from 401(k) and 403(b) plans don’t have to worry about mandatory withholding...
IRS Provides Guidance on 457 Plan Emergency Distributions
November 23, 2010 (PLANSPONSOR.com) - The Internal Revenue Service has provided guidance on circumstances for which an eligible deferred compensation plan under Section 457(b) of the Internal Revenue...
Bias Suit against Defense Department Reinstated
November 22, 2010 (PLANSPONSOR.com) – A federal appellate court has breathed new life into an age discrimination lawsuit against the Defense Department’s Contract Management Agency.
SEC Proposes New Rules for Advisers
November 19, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) has voted to propose new rules to “strengthen the SEC's oversight of investment advisers...
GAO Warns Lawmakers about Retirement Age Increases
November 19 2010 (PLANSPONSOR.com) – Government auditors have warned Congress that boosting the Social Security retirement age would unduly harm poor and minority Americans as well as raise...