DoL Discusses Lifetime Annuity Income Project
December 7, 2009 (PLANSPONSOR.com) – The U.S. Department of Labor (DoL) on Monday waded into the ongoing debate over the need for lifetime retirement income products with word...
Compliance
Montana Supreme Court Turns Away Pension Shutoff Appeal
December 7, 2009 (PLANSPONSOR.com) – Two months after they upheld a $21.5-million jury award in a long-running pension benefit termination case, justices at the Montana Supreme Court have...
IRS Announces 2010 Taxable Wage Base for Permitted Disparity
December 4, 2009 (PLANSPONSOR.com) - The Internal Revenue Service has issued Revenue Ruling 2009-40 providing the table of covered compensation for the 2010 plan year for use in...
DoL to Outline Regulatory Agenda
December 4, 2009 (PLANSPONSOR.com) - On Monday, December 7, the U.S. Department of Labor will make available video remarks by Secretary Hilda L. Solis outlining the department’s regulatory...
Bill Would Require Disclosure of Participants' Expected Retirement Income
December 4, 2009 (PLANSPONSOR.com) - U.S. Senators Jeff Bingaman (D-New Mexico), Johnny Isakson (R-Georgia), and Herb Kohl (D-Wisconsin) have introduced legislation that would require defined contribution plan sponsors...
IRS Standard Mileage Rate for Business Decreases for 2010
December 3, 2009 (PLANSPONSOR.com) - The Internal Revenue Service has issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for...
Verizon Charged with Involuntary Transfer of Retiree Pension Accounts
December 2, 2009 (PLANSPONSOR.com) - Verizon retirees have filed a complaint for violations of the Employee Retirement Income Security Act (ERISA) charging that they and over two thousand...
CA High Court Upholds Wrongful Firing Penalty Reduction
December 2, 2009 (PLANSPONSOR.com) - The California Supreme Court has slashed a jury's punitive damages award from $15 million to $1.9 million in a case against an employer...
Appellate Court Blesses Excessive Fee Suit Dismissal
December 2, 2009 (PLANSPONSOR.com) – A federal appellate court’s to-the-point ruling in an excessive fee case involving United Technologies Corp. (UTC) may not have been couched in elaborate...
Administrator Charged with Embezzling Tens of Millions from Benefit Plans
December 1, 2009 (PLANSPONSOR.com) – Melissa G. King, controlling owner of King Care LLC, has been charged with embezzling tens of millions of dollars from a union's benefits...
PBGC Takes Wheel Maker DB Plan
November 30, 2009 (PLANSPONSOR.com) – The nation’s private-sector pension insurer on Monday announced plans to take over a 54%-funded pension plan for a bankrupt Michigan wheel manufacturer.
Ex-HR Director’s Suit Headed Back to Lower Court
November 30, 2009 (PLANSPONSOR.com) – Justices of the New Jersey Supreme Court have taken an appeal of a $10-million gender discrimination case turning on whether a human resources...
Court Finds Certification Pay Should Have Been Used in Pension Calculations
November 30, 2009 (PLANSPONSOR.com) – A Florida court has determined that police and firefighters' certification pay should have been included in earnings for the purpose of calculating pension...
Congress Focuses on Delphi Bankruptcy’s Impact on Workers, Retirees
November 27, 2009 (PLANSPONSOR.com) - The U.S. House Education and Labor Committee will conduct a hearing next Wednesday on the pensions and benefits that may be...
Court Limits Wachovia's Defenses in Suit over Mortgage-backed Investments
November 27, 2009 (PLANSPONSOR.com) – A federal court has limited the affirmative defenses Wachovia Bank may assert in suit brought by a group of pension funds over investments...
8th Circuit Says Wal-Mart 401(k) Suit Requires Further Discussion
November 27, 2009 (PLANSPONSOR.com) – The 8th U.S. Circuit Court of Appeals has vacated a district court's dismissal of a suit alleging Wal-Mart Stores, Inc. breached its fiduciary...
Tyco Stock Drop Settlement Gets Court OK
November 25, 2009 (PLANSPONSOR.com) – A federal judge in New Hampshire has given final approval of a $70.5-million settlement of a stock drop suit against Tyco International that...
Companies under Criminal Investigation May Retain Counsel for Employees
November 25, 2009 (PLANSPONSOR.com) – The New Jersey Supreme Court has ruled that companies under criminal investigation may -- subject to conditions -- retain counsel for their employees...
Employer Cleared of Wrongdoing in Benefits Case
November 25, 2009 (PLANSPONSOR.com) – A federal judge in Pennsylvania has rejected claims by an AK Steel Corp. employee that the company failed in its obligation to tell...
EBSA Fiduciary Seminar to be Offered in St. Louis
November 24, 2009 (PLANSPONSOR.com) – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has scheduled a fiduciary education seminar for December 8 in St. Louis.