Pension Funds’ WaMu Suit Deemed a Class Action
October 14, 2010 (PLANSPONSOR.com) – A suit filed by five pension funds against Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, has been...
Compliance
Bechtel Settles 401(k) Fee Case for $18.5M
October 14, 2010 (PLANSPONSOR.com) – Engineering giant Bechtel has agreed to an $18.5 million settlement of an excessive 401(k) fee suit.
ASPPA Submits Suggestions on PBGC Business Cessation Proposal
October 13, 2010 (PLANSPONSOR.com) – The ASPPA College of Pension Actuaries (ACOPA) has asked the Pension Benefit Guaranty Corporation (PBGC) to exempt well-funded plans and plans with 20...
Administration Updates HCR FAQs
October 13, 2010 (PLANSPONSOR.com) – Plan sponsors still trying to get their arms around the new requirements of the Affordable Care Act now have a...
ASPPA Demands 403(b) Form 5500 Relief
October 12, 2010 (PLANSPONSOR.com) – With a Friday filing deadline looming, a retirement services trade group has asked for more time for 403(b) sponsors to file the Form...
PBGC Shares PIMS with Actuaries
October 12, 2010 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) has agreed to share its principal modeling tool, the Pension Insurance Modeling System (PIMS), with the Society...
IRS Announces Relief on Health Cost Reporting Mandate
October 12, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) on Tuesday announced that the new requirement that employers report the cost of coverage under an employer-sponsored group...
TN High Court Denies Benefits for Widow of Murdered Employee
October 8, 2010 (PLANSPONSOR.com) – The Supreme Court of Tennessee has denied a claim for workers' compensation benefits by the widow of an employee whose murder at his...
Judge Declares HCR Law Constitutional
October 8, 2010 (PLANSPONSOR.com) – In the first ruling on the merits of a health reform law challenge, a federal judge in Michigan has deemed the law constitutional...
Morgan Stanley Cleared of Breach over Mortgage-Backed Securities Holdings
October 7, 2010 (PLANSPONSOR.com) – Morgan Stanley Investment Management has been granted its motion to dismiss charges it breached its fiduciary duties to a pension plan sponsor by...
Inter-Plan Asset Transfer Elimination Upheld
October 7, 2010 (PLANSPONSOR.com) – A federal appellate court has agreed with a lower court judge that an employer was allowed to drop an option allowing participants to...
DoL Urges Unisys Fee Case Reversal
October 6, 2010 (PLANSPONSOR.com) – A federal judge in Pennsylvania made a mistake when he threw out a 401(k) excessive fee case against Unisys Corporation and Fidelity Management...
PBGC Takes on another Auto Parts Maker Plan
October 5, 2010 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the underfunded pension plan covering more than 780 former workers and retirees of...
State Street Stock Drop Suit Gets Tossed
October 5, 2010 (PLANSPONSOR.com) – A federal judge in Michigan has thrown out a fiduciary breach lawsuit against State Street Bank and Trust filed by General Motors 401(k)...
Decision Stands that Nestle Purina Cannot Deduct Distribution Dividends
October 5, 2010 (PLANSPONSOR.com) - The U.S. Supreme Court has turned away a request by Nestlé Purina Petcare Co. to review an 8th U.S. Circuit Court of Appeals...
EBSA Posts Spanish HCR Notices
October 4, 2010 (PLANSPONSOR.com) – The Department of Labor's Employee Benefits Security Administration (EBSA) has posted to its Web site Spanish versions of model notices required under the...
CA High Court Upholds Governor’s Furlough Order
October 4, 2010 (PLANSPONSOR.com) - The California Supreme Court has upheld Governor Arnold Schwarzenegger's order to furlough state workers.
Auditors Suggest EBSA Could Do More about Conflicts of Interest
October 4, 2010 (PLANSPONSOR.com) – An audit report claims the Department of Labor’s Employee Benefits Security Administration (EBSA) could do more to protect retirement plan assets from conflicts...
Schwarzenegger Pens CA Placement Agent Bill
October 1, 2010 (PLANSPONSOR.com) – California Governor Arnold Schwarzenegger has signed into law a bill requiring pension placement agents to register as lobbyists.
Second Group Repeats Call for 5500 Deadline Extension
October 1, 2010 (PLANSPONSOR.com) – Even though the U.S. Department of Labor (DoL) has already turned down a similar request, a second retirement services trade group has again...