DoL Recovers More than $12M for Calif. Company ESOP Participants >
March 11, 2010 -- The U.S. Department of Labor has obtained consent judgments providing
for restitution of more than $12 million by plan officials and service
providers involved with the employee stock ownership plan sponsored by
The Employee Ownership Holding Co. of Stockton, California, and Fife,
Washington.
Senate Bill Would Permit Roth Conversion Within 401(k)s >
March 09, 2010 -- A bill making its way through the U.S. Senate could make it possible to do a conversion to a Roth IRA within 401(k) plans.
SEC Charges L.A. Investment Firm for Ponzi Scheme against Retirees >
March 05, 2010 -- The Securities and Exchange Commission (SEC) has filed fraud charges
against a Los Angeles-based investment advisory firm and its principal
for an alleged $14.7-million Ponzi scheme targeting retired bus drivers.
Court Dismisses Claims against Amgen in Stock-Drop Case >
March 05, 2010 -- A federal court found no evidence that Amgen, Inc., breached its
fiduciary duties by continuing to offer company stock in its retirement
plans.
DoL Sues ESOP Trustee over Stock Purchase >
March 04, 2010 -- The U.S. Department of Labor has sued a trustee of the Westra
Construction Inc. Employee Stock Ownership Plan (ESOP) for alleged
violations of the Employee Retirement Income Security Act (ERISA) that
resulted in losses to the ESOP.
Forcing Terminated Participants out of Company Stock not ERISA Violation >
March 02, 2010 -- A federal court has ruled that a sponsor of an employee stock ownership
plan did not breach its fiduciary duties by amending the plan to force
terminated employees out of company stock investments.
Nokia Focus of 401(k) Investigation >
March 01, 2010 -- Yet another employer has fallen prey to the one-two punch of a sharp
drop in stock price—and the sting of a 401(k) stock-drop lawsuit.
DoL Proposes Revamped Investment Advice Rule >
Feb 26, 2010 -- The White House today proposed a new rule to implement the exemption for investment advice in the Pension Protection Act (PPA).
EBSA Recovered More Than $1B in 2009 >
Feb 25, 2010 -- The U. S. Department of Labor’s Employee Benefits Security
Administration (EBSA) reported recovering $1.36 billion in 2009 for
employee benefits plans governed by the Employee Retirement Income
Security Act (ERISA).
SEC-BofA Settlement Receives Judge’s Approval >
Feb 22, 2010 -- A long-brewing regulatory conflict ended today as a U.S. District Judge approved Bank of America’s (BofA) $150 million settlement with the Securities and Exchange Commission (SEC).