PBGC Issues Five-Year Action Proposal
September 13, 2007 (PLANSPONSOR.com) - The nation's private sector pension insurer has worked out a five-year plan for accomplishing its goals - and is now looking for feedback...
Compliance
Schwarzenegger Vows Health-Care Reform Bill Veto
September 12, 2007 (PLANSPONSOR.com) - California Governor Arnold Schwarzenegger has vowed to veto a bill forcing employers to offer a cafeteria-style health benefits package or chip in 7.5%...
Countrywide Financial 401(k) Plan Participants Sue Over Plan Losses
September 12, 2007 (PLANSPONSOR.com) - Employees enrolled in Countrywide Financial Corp.'s 401(k) plan claim that illegal actions by those overseeing the plan led to millions of dollars in...
Court Grants Temporary Restraining Order Against "No-Match" Letters
September 11, 2007 (PLANSPONSOR.com) - The U.S. District Court for the Northern District of California issued a temporary restraining order against the Department of Homeland Security's plan to...
DoL Puts Out Annuity Provider Selection Guidance
September 11, 2007 (PLANSPONSOR.com) - The U.S. Department of Labor (DoL) on Tuesday issued two rules under the Pension Protection Act (PPA) relating to annuity provider selection to...
Court: Sale of Subsidiary Does Not Mean Shedding Benefits Responsibilities
September 10, 2007 (PLANSPONSOR.com) - The U.S. 1st Circuit Court of Appeals ruled that Bowater Inc. did not give up responsibility for the health plans of its subsidiary's...
IRS Extends Deadline for 409A Document Compliance
September 10, 2007 (PLANSPONSOR.com) - The Treasury Department and the Internal Revenue Service (IRS) on Monday issued Notice 2007-78 giving plan sponsors until December 31, 2008 to bring...
State Trial Against SD Pension Officials Gets Green Light
September 10, 2007 (PLANSPONSOR.com) - A California appeals court has given the go ahead for a trial against six former San Diego pension officials that alleges they granted...
Boeing Workers Strike Out Again in Cash Balance Battle
September 10, 2007 (PLANSPONSOR.com) - For the second time, a federal judge in Illinois has turned aside arguments that the Boeing Company's cash balance plan is improperly backloaded.
Court OKs Service-Based Retirement Definition for Cash Balance Plan
September 7, 2007 (PLANSPONSOR.com) - The U.S. District Court for the Northern District of Illinois has determined a cash balance plan that defined normal retirement age by years...
RK Ordered to Turn Over Records in Cash Balance Discrimination Case
September 7, 2007 (PLANSPONSOR.com) - A federal magistrate judge ruled that a pension plan sponsor operating a cash balance plan must produce electronic documents from its recordkeeper in...
3rd Circuit Reverses Tyson Donning and Doffing Case Decision
September 7, 2007 (PLANSPONSOR.com) - The 3rd U.S. Circuit Court of Appeals has reversed a jury decision that Tyson Foods Inc. did not owe workers for time they...
Policyholders Strike Out Again with Amended Insurance Antitrust Suits
September 5, 2007 (PLANSPONSOR.com) - The U.S. District Court for the District of New Jersey has once again dismissed claims on behalf of several classes of policyholders including...
Former Canadian Employees Appeal Plan Expenses Decision
September 5, 2007 (PLANSPONSOR.com) - Former employees of food manufacturer Kerry (Canada) Inc., want to appeal a decision that said the company could use plan funds to cover...
Denial of Overtime Pay Could Constitute Adverse Employment Action
September 5, 2007 (PLANSPONSOR.com) - The 7th U.S. Circuit Court of Appeals ruled that a denial of overtime pay could be enough to prove an adverse employment action...
District Court Used Improper Standard for Dismissal of Accidental Death Suit
September 4, 2007 (PLANSPONSOR.com) - The 8th U.S. Circuit Court of Appeals has reversed a district court's decision to dismiss a case in which an employee's children sought...
SEC Issues Warning for Fund Co's 22c-2 Info Misuse
September 4, 2007 (PLANSPONSOR.com) - With an anti-market timing rule scheduled to go into effect October 16, 2007, Securities and Exchange Commission (SEC) regulators have warned the investment...
PBGC Asks Court to Terminate Waltec Forgings Plan
September 4, 2007 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) has asked the U.S. District Court for the Eastern District of Michigan to terminate the Waltec American...
Iowa County Judge Deems Ban on Gay Marriages Unconstitutional
August 31, 2007 (PLANSPONSOR.com) - A Polk County, Iowa judge ruled Tuesday that Iowa's 1998 ban on same-sex marriages was unconstitutional, and ordered the county recorder to issue...
Court Hands CalSTRS Victory in $500M Funding Battle
August 31, 2007 (PLANSPONSOR.COM) - The California Third District Court of Appeal has upheld a lower court ruling ordering the state to pay the California State Teachers' Retirement...