Compliance

Female Sales Execs Sue Combined Insurance

December 14, 2001 (PLANSPONSOR.com) - Ten current and former female sales executives have filed a sexual discrimination suit against Combined Insurance Company of America, claiming male managers harassed them and rejected them for promotions.

PBGC Has No Plans To Take On Steel Industry

December 14, 2001 (PLANSPONSOR.com) - The likelihood that the Pension Benefits Guaranty Corporation (PBGC) would take over the pension plans of the entire steel industry in the event the embattled sector goes bankrupt is highly unlikely, said a spokesman for the government agency.

PBGC Ups Multi-Employer Guarantee

December 26, 2000 (PLANSPONSOR.com) - Participants in multi-employer retirement plans will get a bit more security, thanks to an increase in the Pension Benefit Guarantee Corporation's guarantee limit.

PBGC Posts Pension Maximum for 2002

November 14, 2001 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) has announced that the maximum benefit it will guarantee for retirees in underfunded, single-employer defined benefit plans that terminate in the year 2002 will be $3,579.55 per month, or $42,954.60 per year.

IRS Extends GUST Deadline to February

November 14, 2001 (PLANSPONSOR.com) ? The Internal Revenue Service on Wednesday extended the GUST remedial plan amendment period from December 31, 2001 to February 28, 2002.

Conflicting Opinions: Advice Bill Introduced in Senate

November 14, 2001 (PLANSPONSOR.com) ? Senators Jeff Bingaman (D-New Mexico) and Susan Collins (R-Maine) have introduced a new investment advice bill, one that purports to protect employers without removing some of the party-in-interest barriers that currently prevent investment management services firms from providing investment advice.

Full House to Take Up Advice Bill

November 14, 2001(PLANSPONSOR.com) - The House will consider H.R. 2269, the Retirement Security Advice Act, authored by Education and the Workforce Committee Chairman John Boehner (R-Ohio) tomorrow, just two days after the introduction of a different version by Senators Jeff Bingaman (D-New Mexico) and Susan Collins (R-Maine).

Enron Execs May Have to Repay Plan Losses

October 2, 2002 (PLANSPONSOR.com) - The US Department of Labor (DoL) came out with both barrels blazing as it argued in court papers that former Enron Corp. executives could be forced to go into their own pockets to make up millions of dollars in retirement plan losses.

Cendant Hit with Giant FMLA Award

October 2, 2002 (PLANSPONSOR.com) - A Cendant Corp. Internet executive has been awarded $496,344 in damages for her claims her rights were violated under the Connecticut Family Medical Leave Act (FMLA).

Pension Reform Vote on Friday?

October 26, 2000 (PLANSPONSOR.com) - Pension reform continued to creep ahead yesterday as the President and Speaker of the House exchanged letters outlining their respective priorities - and concerns - on a bill that could have a dramatic impact on qualified plans. The legislation is still expected to come up for a vote on Friday.

Advice Bill Ready To Take Next Step

September 14, 2001 (PLANSPONSOR.com) - The Retirement Security Advice Act (H.R. 2269) may be addressed by the House Education & the Workforce Committee as early as the end of September.

Senate Panel Considers Contraceptive Coverage

September 14, 2001 (PLANSPONSOR.com) -A Senate panel hearing on legislation that would require contraceptives to be covered under private health plans has brought the bill is one step closer to becoming law.

Union Pamphlets Denied 'Right of Way' From Third Circuit

July 2, 2002 (PLANSPONSOR.com) - A federal appeals court ruling proved to be a mixed bag for a Pennsylvania snack distribution company, with judges tossing two findings of unfair labor practices - but upholding a charge of illegal surveillance of union activity.

Senate To Combine Pension, Tax Reform Issues

May 14, 2001 (PLANSPONSOR.com) - Looks like pension reform will hitch a ride with the compromise tax bill introduced in the Senate on Friday - but the Senate version contains a number of pension provisions previously rejected by the House in its deliberations as too costly.

PBGC Releases Long Bond Yield Guidance

May 2, 2002 (PLANSPONSOR.com) - Companies with defined benefit pension plans now have additional guidance about how to apply the new rules allowing administrators to use 100% of the yield on 30-year Treasury securities in funding calculations.

Wal-Mart Opposes Kennedy Bill

April 2, 2002 (PLANSPONSOR.com) - Wal-Mart Stores Inc, which provides jobs for 900,000 US workers, 650,000 of whom are covered by the group's pension plan, opposes Senator Edward Kennedy's (D-Massachusetts) pension-reform bill.