Compliance

ROLLOVER DIRECTION – Revenue Ruling OKs Direct Rollover as Default

July 17, 2000 (PLANSPONSOR.com) - Plan sponsors will find a bit more leeway in handling distributions, thanks to Revenue Ruling 2000-36. Currently, most plans simply distribute small distributions in cash to terminating participants, unless instructed otherwise by the participant. The Ruling clarifies circumstances under which a plan may establish a direct rollover as the default method of payment without running afoul of the law.

Justices Exclude Front Pay from Damages Cap

June 5, 2001 (PLANSPONSOR.com) - The US Supreme Court has set a precedent, increasing damage awards for discharged workers who claim their dismissal was a result of illegal discrimination, in a sexual harassment suit filed against chemical giant DuPont.

MSAs May Get New Lease On "Life"

April 5, 2001 (PLANSPONSOR.COM) - Small business owners and entrepreneurs might have reason to be optimistic about the future of Medical Savings Accounts (MSA), thanks to new legislation that could make them permanent and expand their availability.

Pa. Finds No ERISA Preemption for HMO

April 5, 2001 (PLANSPONSOR.com) - In a decision likely to rekindle controversy over healthcare decisions, the Pennsylvania Supreme Court found that a state medical negligence claim was not pre-empted by ERISA, affirming its 1998 decision in Pappas v. Asbel.

Ergonomics Challenge Looms

March 5, 2001 (PLANSPONSOR.com) - A resolution opposing new ergonomics standards from the Occupational Safety and Health Administration (OSHA) could come up for a vote as early as March 6.

SEC Sees New Role in Social Security Privatization

February 5, 2001 (PLANSPONSOR.com ) - If individuals are allowed to make individual investments in their Social Security accounts, it will force the Securities and Exchange Commission into a new role, a SEC commissioner said.

Railway Retirement Bill Steams Ahead

December 4, 2001 (PLANSPONSOR.com) - The railway retirement bill, which would let the federally administered railroad pension system redirect some of its assets from Treasury bonds to equities, has taken a few steps forward in the US Senate, Reuters reports.

SEC Weighs the Benefits of Pro Forma Earnings

November 8, 2001 (PLANSPONSOR.com) - Robert Herdman, the Securities and Exchange Commission (SEC)'s chief accountant, said pro forma earnings can be a valuable tool in assessing a company's financial standing when employed properly.

School District Settles Age Bias Case

October 4, 2001(PLANSPONSOR.com) - The Coatesville Area School District in Philadelphia has agreed to a settlement of over $475,000 in an age discrimination suit brought by the US Equal Employment Opportunity Commission (EEOC).

Modified Boehner Bill Heads For House Vote

October 4, 2001 (PLANSPONSOR.com) ? The full House Education & the Workforce Committee approved the Retirement Security Act (H.R. 2269) yesterday, incorporating several new suggestions from committee members and the Department of Labor.

Regulations Impose $90 Billion Burden on Employers

September 4, 2001 (PLANSPONSOR.com) -US government regulations cost employers about $91 billion each year, with occupational safety and health regulations accounting for more than half that total, according to a new report.

Congress To Consider "Fair Care"

April 4, 2001 (PLANSPONSOR.com) - Bills have been introduced in the House and Senate that would provide tax credits to help uninsured Americans obtain health insurance.

RICO Claims in NYLife Case Dismissed

April 4, 2001 (PLANSPONSOR.com) - The US District Court in Philadelphia dismissed significant portions of a lawsuit against New York Life that challenged the investment of employee and agent pension plan assets in the company's proprietary mutual funds.

Fed Pension Law Suit Advances

April 4, 2001 (PLANSPONSOR.com) - A federal judge has allowed a group of past and present employees of the Federal Reserve to continue with a lawsuit against their employer.

SEC Orders More Trade Disclosure

November 15, 2000 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) today unanimously approved new rules that require brokers and markets to disclose more information about their trade execution practices.

Pension Vote Nears, But Which Version?

October 15, 2000 (PLANSPONSOR.com) - With several versions of H.R. 1102, the pension reform bill, before Congress this week, observers are wondering which version the legislators will accept.

Workforce Committee Approves Boehner Bill

October 3, 2001 (PLANSPONSOR.com) - The Education & the Workforce Committee of the House of Representatives today approved the Retirement Security Advice Act, H.R. 2269, sponsored by committee chairman John Boehner (R- Ohio), by a bipartisan vote of 29-17.