There has actually been relatively little helpful legal insight published by the courts, due to the fact that many Employee Retirement Income Security Act (ERISA) cases end with settlements, while others are dismissed early on for pleading deficiencies. Even though a ruling was issued in Schwab’s attempt to compel arbitration of a participant’s complaint, the decision left unanswered questions. Hopefully, guidance will come from the U.S. Supreme Court in the cases it is reviewing. Meanwhile, clear guidance has been issued from the IRS about new hardship withdrawal rules. Enjoy this edition of PLANSPONSOR Weekend!
Michael Barry, president of O3 Plan Advisory Services LLC, discusses how differing views by courts in various ERISA cases results in no clear guidance.Read more >
The effect of the 9th Circuit decision on Employee Retirement Income Security Act (ERISA) lawsuits is uncertain, and arbitration is not the perfect option plan sponsors may think.Read more >
The U.S. Solicitor General and the Pension Rights Center have filed briefs with the Supreme Court for a fiduciary breach case the U.S. 8th Circuit Court of Appeals dismissed based on the fact that a DB plan had enough money left over to keep paying benefits.Read more >
The question before the court is: May an ERISA plan participant or beneficiary seek disgorgement of unreasonable profits derived from a plan contract from a non-fiduciary party in interest?Read more >
Michael A. Webb, with Cammack Retirement Group, says there are no substantive changes from the proposed regulations, but he points out certain items in the final regulations plan sponsors should note.Read more >
A rare unanimous affirmative voice vote by the Ways and Means Committee allows the SECURE Act 2.0 to be considered by the full House of Representatives.
Increased funded status for DB plans and rising interest rates make now a good time for plan sponsors to consider implementing pension risk transfer transactions.
The way people view and define retirement has undergone a significant philosophical change in recent years, creating a clear and present need to update the defined contribution plan lexicon.
