Parts of the lower court’s ruling against the plaintiffs’ claims have been rejected and remanded by the appeals court.
A judge found that plaintiffs failed to offer evidence that removing certain funds caused economic loss, but the ruling sided with plaintiffs concerning excessive recordkeeping fees.
Though claims in the case were pared down last fall, the plaintiffs have requested a jury trial, so a federal judge has given them options for proceeding.
DB plan sponsors may want to offer coronavirus-related distributions under the CARES Act, but should understand certain rules before doing so.
The legislation provides for a state-run auto-IRA program as well as a marketplace from which employers can choose low-cost retirement savings plans.
There is bipartisan support building around the idea of allowing the most stressed union pensions to enact “partitions” in order to remain solvent, but the real challenge is...
DB plan sponsors can use help provided in the CARES Act and take other actions to avoid falling into funded status zones that would impact benefits.
The lawsuit accuses BBVA of mismanaging a $100 million money market fund ‘that was the investment equivalent of stuffing cash into a mattress.’ The interim ruling highlights the...
The agency published an issue snapshot explaining special catch-up contribution rules after issuing a program letter saying such contributions will be a focus of examinations.
State and local tax treatment of coronavirus-related distributions from retirement plans may be different from federal tax treatment.
The plan in question in smaller than many that have been subject to excessive fee litigation, underscoring the trend that smaller plans are also potential targets for class...
IRC Section 409A governs plan sponsor and participant decisions for nonqualified plans, and the COVID-19 pandemic will make plan design best practices clearer.
The draft legislation also includes a proposed extension of amortization of required annual funding amounts for single-employer pensions.
The agency has also announced an increase in the FSA carryover amount.
The second suit, filed on behalf of participants rather than plan sponsors, largely mirrors the first in its allegations of prohibited transactions, excessive fees and other fiduciary breaches