Employee Stock Reporting Deadlines Approaching
November 19 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has released final versions of Form 3921 and 3922 on which employers are required to report information relating...
Compliance
Senators File Brief in Health Reform Challenge
November 19, 2010 (PLANSPONSOR.com) - Senate Minority Leader Mitch McConnell (R-Kentucky) and 32 other GOP senators filed a brief on Thursday in favor of a court case challenging...
SEC OKs Hedge Fund, Private Equity Disclosure Mandate
November 19, 2010 (PLANSPONSOR.com) – The Securities and Exchange Commission (SEC) has approved a rule that mandates hedge fund and private equity managers to register with the agency...
NH Retirement System Appealing Order to Release Retiree Names
November 19, 2010 (PLANSPONSOR.com) – The New Hampshire Retirement System has filed an appeal of a court ruling that it disclose the names of pension recipients.
Savings Plan Embezzler Indicted
November 19, 2010 (PLANSPONSOR.com) - A federal indictment unsealed this week in the District of Minnesota alleges that a 62-year-old New Prague, Minnesota man embezzled...
Widow Loses SERP Benefits Bid
November 18, 2010 (PLANSPONSOR.com) – The widow of a participant in Diebold Inc.'s supplemental executive retirement plan (SERP) did not meet the plan’s definition of “spouse,” so she...
EBSA Releases DB Funding Notice Proposed Rule
November 17, 2010 (PLANSPONSOR.com) – Federal regulators have released a proposed rule clarifying section 101(f) of the Employee Retirement Income Security Act (ERISA) mandating annual defined benefit plan...
Can a Postcard Furnish an SPD Solution?
November 15, 2010 (PLANSPONSOR.com) – Plan sponsors hoping for a simpler, easier way to satisfy the obligation to furnish summary plan descriptions (SPDs) to participants...
EBSA Cracking Down on Contributions not Deposited
November 16, 2010 (PLANSPONSOR.com) - The U.S. Department of Labor's Employee Benefits Security Administration announced a series of enforcement actions to protect more than $7 million for workers...
PBGC Sets New Interest Rate Assumptions
November 15, 2010 (PLANSPONSOREurope.com) – The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule updating the benefit payments interest assumptions for terminated, single-employer plans for December...
Feds Ease HCR Grandfathering Rule
November 15, 2010 (PLANSPONSOR.com) – Federal regulators on Monday amended health-care reform rules allowing all insured group health plans to keep their grandfathered status even if they change...
PBGC Reports $23B Deficit
November 15, 2010 (PLANSPONSOR.com) - In FY 2010, the Pension Benefit Guaranty Corporation (PBGC) took in $2.3 billion in premiums and had $7.8 billion in investment income (total...
Baucus Plans Bill to Repeal 1099 HCR Clause
November 12, 2010 (PLANSPONSOR.com) – A top U.S. Senate Democrat on Friday pledged to repeal a provision of the new health care law that requires businesses to file...
Court Condones Use of Prior Year Stock Valuation for Plan Distributions
November 11, 2010 (PLANSPONSOR.com) – The U.S. District Court for the Southern District of New York has ruled in favor of an employer sued for its use of...
Chemtura Agrees to Add Funds to Underfunded Pension
November 10, 2010 (PLANSPONSOR.com) – Chemtura Corp. has agreed as part of a pact with the Pension Benefit Guaranty Corporation (PBGC) to make a $50-million additional contribution to its...
DoL Blasts 9th Circuit for Prudence Presumption Endorsement
November 10, 2010 (PLANSPONSOR.com) – Lawyers representing Labor Secretary Hilda L. Solis have asked the 9th U.S. Circuit Court of Appeals to overturn a three-judge panel's recent decision...
EEOC Issues Final Regs on Genetic Info Non-Discrimination
November 9, 2010 (PLANSPONSOR.com) - The U.S. Equal Employment Opportunity Commission (EEOC) has issued final regulations implementing the employment provisions (Title II) of the Genetic Information Nondiscrimination Act...
Former CEO Ordered to Restore $57K to 401(k) Participants
November 9, 2010 (PLANSPONSOR.com) – The former CEO of Leading Technology Services Corp. (LTS) was sentenced to prison and ordered to provide restitution to the company’s 401(k) plan...
IRS Explains Deductibility Rules for Gym Expenses
November 8, 2010 (PLANSPONSOR.com) – Working out at a gym may help taxpayers look swell, but, unless they can prove it also helps a specific medical condition, they...
Supermarket Chain Agrees to Restore $8M to 401(k) Plan
November 8, 2010 (PLANSPONSOR.com) - C&K Market Inc. of Brookings, Oregon, has agreed to restore $3 million in cash plus interest and to sell property owned by the...