Compliance

The pharmaceutical company has agreed to pay more than $2.5 million to settle an ERISA excessive fee lawsuit, out of which up to $850,000 can be paid to...

Plaintiffs in stock drop lawsuits have had very limited success establishing standing under a precedent set by the landmark Supreme Court decision Fifth-Third v. Dudenhoeffer.

The rule is in line with DOL’s proposed rulemaking that it announced in August and streamlines the electronic process by using the same system as the Form 5500.

Among other allegations, the complaint says defendants continued to offer certain funds in the plan despite the availability of alternative, lower-cost ones.

The agency says the purpose of the updates is to allow retirees to retain more savings in their accounts in case they live longer.

A proposed class has been certified in the lawsuit against Maine Oxy-Acetylene Supply Co., its owner and a person who reportedly financed the purchase of the company.

The company recently entered an asset purchase agreement designed to allow it to emerge from Chapter 11 bankruptcy, but the pension plan was not part of the deal.

In tandem with the Treasury Department, the IRS is also requesting comments on the application of annuity and spousal rights provisions related to distributions in certain 403(b) plans.

While implementing a request for proposals (RFP) isn’t necessary for every plan, issuing one can be a crucial step in determining a quality plan auditor.

Speakers discussed the SECURE Act, the CARES Act and the DOL’s guidance on ESG during the first day of the Best of PLANSPONSOR National Conference

Another self-dealing lawsuit has been filed in federal court, this one seeking $34 million in alleged damages.

The court agreed with the plaintiffs that they have alleged injury with respect to each of their claims—which implicate ‘plan-level conduct’—and, therefore, have standing to sue.

Letting the agency set its own premiums and basing them more on risk would encourage the offering and maintenance of pension plan, the Academy of Actuaries says.

Maximum Benefit/Contribution Limits for 2016 through 2021, with a downloadable PDF of limits from 2011 to 2021.

The lawsuit says the target-date funds had underperformed since they were created and resulted in a loss of $65 million for the plan.

The final version of the regulation emphasizes the importance of using only ‘pecuniary’ factors in the assessment of investment options within tax-qualified retirement plans.

The agency’s enforcement report describes some ways enforcement actions are initiated.

The two candidates differ in their approaches to several key areas of importance in the retirement planning industry.