PBGC to Take St. Vincent’s Plan
September 14, 2010 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) is moving to assume responsibility for the pension plan covering more than 9,500 workers and retirees of...
Compliance
Guidant Stock Drop Settlement Gets Final OK
September 14, 2010 (PLANSPONSOR.com) – A federal judge in Indiana has given final approval to a $7-million settlement of a stock drop class action case against Guidant Corp.
Spa Owner Charged with Retirement Fund Embezzlement
September 13, 2010 (PLANSPONSOR.com) – The owner of a Pasadena, California, spa and salon has been charged with embezzling more than $26,000 withheld from employee paychecks for a...
President of Franklin Drywall Charged with Misusing Pension Funds
September 13, 2010 (PLANSPONSOR.com) - The owner and president of Franklin Drywall, a union sheet-rocking contractor based in Little Canada, has been indicted for misappropriating more than $500,000...
Northern Trust SecLending Suit Plaintiffs Survive First Challenge
September 10, 2010 (PLANSPONSOR.com) – Participants of two 401(k) plans have gotten the go-ahead from a federal judge to press on with their lawsuit that claims Northern Trust...
HHS Releases Annual Health Coverage Limit Waiver Guidance
September 10, 2010 (PLANSPONSOR.com) – Federal regulators have issued guidance on how “limited benefit” or “mini-med” health care plans can apply for waivers from rules restricting and then...
Shifts in Employer Coverage Will Lead to Higher Health Care Spending
September 9, 2010 (PLANSPONSOR.com) – A survey conducted by the Centers for Medicare and Medicaid Services (CMS) auditors finds the net impacts of key Affordable Care Act and other...
Court Clarifies ERISA Benefits Disputes Discovery Rules
September 9, 2010 (PLANSPONSOR.com) – A federal appellate court has ruled that parties in Employee Retirement Income Security Act (ERISA) benefit plan suits have limits on their pre-trial...
Court Preserves Early Retirement Subsidy Notice Issue
September 8, 2010 (PLANSPONSOR.com) – A federal appellate court has cleared Solvay Chemicals Inc. of wrongdoing in its cash balance plan conversion, but sent a narrowly drawn notice...
Court Reinstates Suit by Male Worker over Female Coworker Advances
September 7, 2010 (PLANSPONSOR.com) – The 9th U.S. Circuit Court of Appeals has reversed a lower court’s decision that a female employee’s amorous advances toward a male coworker were...
IRS Releases Form for Calculating New Health Care Tax Credit
September 7, 2010 (PLANSPONSOR.com) - The Internal Revenue Service has released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the...
General Growth Settles Stock Drop Suit
September 7, 2010 (PLANSPONSOR.com) – General Growth Properties, the second-largest U.S. Mall owner, in the process of emerging from bankruptcy, has agreed to a $5.75-million settlement of a...
IRS Publishes New Health Care Reimbursement Guidance
September 3, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has issued some new guidance on provisions added by the Patient Protection and Affordable Care...
PBGC Plan to Bolster NC Firm’s Pension Program
September 3, 2010 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) has announced an agreement with sock maker Gold Toe Moretz Holdings Corp. to shore up the pension...
Court Dismisses FA Suit over Merrill WealthBuilder
September 3, 2010 (PLANSPONSOR.com) – Merrill Lynch’s WealthBuilder Plan did not violate the Employee Retirement Income Security Act (ERISA) because it was a top-hat plan, a federal judge...
Comments Endorse Fee Disclosure Flexibility, Additional Compliance Time
September 2, 2010 (PLANSPONSOR.com) – A selection of the 44 comments received by the U.S. Department of Labor (DoL) about its pending fee-disclosure rule shows broad support for...
Court Finds Plan Trustee Could not Act on Knowledge of Breaches
September 2, 2010 (PLANSPONSOR.com) – A federal court in Illinois has ruled that participants of the Antioch Company Employee Stock Ownership Plan are not time-barred from moving forward...
401(k) Participant at Fault in Account Withdrawal Dispute
September 2, 2010 (PLANSPONSOR.com) – A federal judge in Oklahoma has cleared a 401(k) plan administrator of wrongdoing in a dispute over whether the employer should be forced...
Lawmakers: Keep 408(b)(2) Disclosures Simple
August 31, 2010 (PLANSPONSOR.com) – A letter to the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) from five key lawmakers urges the agency to require service...
Visteon to Keep Pension Plans Running
August 31, 2010 (PLANSPONSOR.com) – A U.S Bankruptcy Court has approved a reorganization plan for auto-part supplier Visteon that will see all of the company’s pension plans remain...