Bonuses and Commissions Could Face Higher Taxes >
September 02, 2010 -- The American Payroll Association (APA) issued a statement today to alert the public of the potential hit paychecks will take due to expiring tax cuts.
Court Finds Plan Trustee Could not Act on Knowledge of Breaches >
September 02, 2010 -- A federal court in Illinois ruled that participants of the Antioch Company Employee Stock Ownership Plan are not barred from moving forward with their claim that company fiduciaries and GreatBanc Trust Co. breached their duties under the Employee Retirement Income Security Act.
401(k) Participant at Fault in Account Withdrawal Dispute >
September 02, 2010 -- A federal judge in Oklahoma has cleared a 401(k) plan administrator of wrongdoing in a dispute over whether the employer should be forced to repay the participant for funds his ex-wife took out of his account.
WaMu to Settle Stock Drop Suits for $49M >
September 01, 2010 -- A federal court has given preliminary approval of a settlement that would resolve lawsuits alleging breaches of fiduciary duties under the Employee Retirement Income Security Act by Washington Mutual.
NAIRPA Comments on SEC Target-Date Fund Proposal >
September 01, 2010 -- In a letter to the Securities and Exchange Commission (SEC), the National Association of Independent Retirement Plan Advisors (NAIRPA) calls for “focused disclosure” of target-date funds and said that a summary disclosure may not be enough.
Ford Settles Company Stock Suit with Advice >
August 31, 2010 -- Ford Motor Co. will provide free financial advice to retirees and employees as part of an agreement to settle a lawsuit claiming the company should not have offered company stock as an investment in its retirement plans.
Pfizer Cleared in Stock Option Suit >
August 31, 2010 -- Pfizer Inc. did not breach its Employee Retirement Income Security Act (ERISA) responsibilities by giving an employee incorrect information about stock options granted under a non-ERISA plan, a federal appellate court ruled.
Court Dismisses BofA Stock Drop Case >
August 30, 2010 -- A federal judge has tossed out a stock drop case against Bank of America (BofA) that had alleged numerous fiduciary breaches in connection with BofA’s Merrill Lynch and Countrywide Financial acquisitions.
ASPPA Suggests Change to Providers Covered under Fee Disclosure Regs >
August 30, 2010 -- In response to the U.S. Department of Labor Employee Benefits Security Administration’s interim final rule on fee disclosure, the American Society of Pension Professionals & Actuaries (ASPPA) and an affiliated organization recommended a change to the definition of covered service providers.
Judge Moves Forward Shareholder Claims against Bank of America >
August 30, 2010 -- A judge has moved forward claims against Bank of America (BofA) Corp., certain officers, and directors that they concealed intended bonuses and losses at Merrill Lynch & Co after the bank agreed to acquire the investment firm.