Employer Cannot be Fiduciary Before its Existence
August 23, 2006 (PLANSPONSOR.com) - The US District Court for the Northern District of Illinois has ruled that a spin-off company cannot be held liable for misrepresentation of...
Compliance
Court Rejects Discrimination Suit Against Prudential Plan
August 23, 2006 (PLANSPONSOR.com) - The 3rd Circuit US Court of Appeals ruled that a company did not breach its fiduciary duties by failing to tell a former...
Only One in Five Hedge Funds Vows to Roll Back SEC Registration
August 23, 2006 (PLANSPONSOR.com) - The US Securities and Exchange Commission may have backed away from its hedge fund registration rule, but the regulator's short-lived attempt apparently has...
Lockheed Cleared of Fiduciary Misstep in Rollover Dispute
August 23, 2006 (PLANSPONSOR.com) - A federal appellate court has cleared Lockheed Martin Energy Systems Inc. (LMES) of wrongdoing in connection with whether IT employees could roll their...
San Francisco Voters to Ponder Sick Leave Measure
August 22, 2006 (PLANSPONSOR.com) - San Francisco voters are set to decide later this year whether the California city will become the first US municipality to require firms...
Court Finds SPD Created Expectations of Benefits
August 21, 2006 (PLANSPONSOR.com) - The US District Court for the Northern District of California has ruled that accidental death and dismemberment claims for a man who completely...
Appeals Court Mandates Aggregate Consideration of Failing Pension Programs
August 21, 2006 (PLANSPONSOR.com) - An employer seeking to terminate more than one pension plan as part of its case before a US Bankruptcy Court should consider all...
DoL Removes DC Union in Fiduciary Breach Case
August 18, 2006 (PLANSPONSOR.com) - Federal officials have announced that they have obtained a temporary federal court restraining order, removing a security guard union as fiduciary of its...
Ex-Motorola Worker Cannot File Company Stock Suit
August 17, 2006 (PLANSPONSOR.com) - Because a former Motorola employee no longer participated in the company's 401(k) plan and had taken a full distribution of his retirement balance,...
Court Applies "Catch-all" Statute of Limitations to Retirees' Claim
August 17, 2006 (PLANSPONSOR.com) - The 6th US Circuit Court of Appeals determined a group of retirees of the United States Enrichment Corporation (USEC) are time-barred from their...
Non-citizen has no Discrimination Protection Outside of US
August 16, 2006 (PLANSPONSOR.com) - The 2nd US Circuit Court of Appeals has determined that a non-citizen worker for American International Group (AIG) has no recourse for workplace...
Court Forces Wal-Mart to Comply with CA Break Laws
August 16, 2006 (PLANSPONSOR.com) - A judge said Monday that Wal-Mart Stores Inc., must follow California laws that require workers who work more than five hours to get...
Deferred Comp Plan Not a Top Hat
August 16, 2006 (PLANSPONSOR.com) - Because an employer allowed non-management non-highly compensated staff members to be in a deferred compensation plan, the program would not be considered exempt...
Cafeteria Plans Not Required to be Held in Trust
August 15, 2006 (PLANSPONSOR.com) - A federal appellate court has turned away complaints by employees of a South Carolina textile equipment manufacturer that their company breached its fiduciary...
Texas Labor Union was Not Required to Represent Retirees
August 15, 2006 (PLANSPONSOR.com) - The National Labor Relations Board ruled that a Texas postal service union had no obligation to give equal shares of an $800,000 settlement...
Benefits Committee Was Capricious by Not Reviewing Home Office Arrangement
August 15, 2006 (PLANSPONSOR.com) - The 2nd US Circuit Court of Appeals ruled that a benefits committee acted capriciously and arbitrarily when it denied an employee severance benefits...
Pension Protection Act Opens New Door to Advice
August 15, 2006 (PLANSPONSOR.com) - While the Pension Protection Act passed covers a wide range of issues, perhaps none is of as immediate concern to defined contribution plan...
Plan Reimbursements to Designated Beneficiaries Not Excludable from Gross Income
August 14, 2006 (PLANSPONSOR.com) - Amounts paid to an employee under a reimbursement plan are not excludable from
gross income if the plan permits amounts to...
gross income if the plan permits amounts to...
IRS Issues HSA Trustee/Custodian Reminder
August 11, 2005 (PLANSPONSOR.com) - Federal tax officials have issued a reminder about the rules under which trustees or custodians can be appointed for a health savings account...
Sprint Settles $29M Suit with Plan Participants Claiming Fiduciary Breach
August 11, 2006 (PLANSPONSOR.com) - A US District Judge gave his nod to a settlement by Sprint Nextel Corp. to shell out $25 million to more than 85,000...