Court Finds Withdrawal Liability Calculation Suspect
A federal appellate court found a multiemployer pension plan’s determination of a participating employer’s withdrawal liability was excessive.
Compliance
IRS Adds Session for EPCRS Phone Forum
The Internal Revenue Service (IRS) announced its plan phone forum about fixing 403(b) plan mistakes is full.
Ill. Company to Restore $2.7M to 401(k)
A.B.D. Tank & Pump Co. in Elmhurst, Illinois, has been ordered to restore $2,767,051 to the company’s retirement plan.
Obama Likely to Make Good on Tax Increase Promise
In a webinar sponsored by Sammons Retirement Solutions, Andrew Friedman of The Washington Update discussed the Bush tax cuts.
Janus Helps Advisers Plan for Tax Break Sunset
Janus Capital Group has come up with 10 ways advisers can help clients mitigate higher ordinary income tax and...
$18M Judgment Ordered in Alliant Cash Balance Case
A federal judge has approved calculations for an award to former participants in Alliant Energy Corp.’s cash balance plan.
Transamerica Hosts Retirement Legislation Webinar
Next month, Transamerica Retirement Plan Services will host a legislative outlook webinar for third-party administrators (TPAs) and advisers.
Invaluable Data is Form PF Advantage
Form PF is a challenge, but it will provide registered investment advisers with detailed—and marketable—portfolio insight, Thomson Reuters said...
SEC Backs Down on Proposal—For Now
Mary Schapiro, chairman of the Securities and Exchange Commission (SEC), said Wednesday the commission called off a vote to reform the structure of money market funds.
IRS to Hold Forum About Correcting 401(k) Plan Mistakes
The Internal Revenue Service (IRS) announced a retirement plans phone forum, “EPCRS: Correction of 401(k) Plan Mistakes,” for September 7.
Trade Groups Object to SEC Money Fund Regulations
Thirteen trade associations filed a comment letter with the Securities and Exchange Commission (SEC), outlining objections to a proposal that would increase regulation on money market funds.
Compliance Registration Error Causes NAPFA Chair-Elect to Resign
Ron Rhoades, the chair-elect for the National Association of Personal Financial Advisors (NAPFA) for 2012-13, announced he would resign.
DOL Sues Auto Supplier for Diverting Retirement Assets
The U.S. Department of Labor (DOL) is suing to restore $34.6 million in assets to two pension funds for employees of auto supplier Metavation.
Medical Centers’ Employees Sue Over Switch to DC
Employees at Truman Medical Centers (TMC) sued the hospital for changing their retirement plans.
Stepchildren Not ‘Children’ for Purposes of Death Benefit
A federal appellate court has determined a plan administrator was right in bypassing a deceased retirement plan participant’s stepchildren when distributing his account.
Model Portfolio Guidance Should Not Be Ignored
All the controversy regarding the Department of Labor’s (DOL’s) guidance about fee disclosures for brokerage windows may have overshadowed its guidance for model portfolios.
Compliance 2.0: Social Media
Social media offers an opportunity to build your brand. But send a seemingly innocent tweet – or “like” the wrong Facebook page – and you could step into...
Revenue-Sharing Fee Analysis Now Available at Participant Level
It is up to a plan’s investment committee to determine whether the cost of reimbursing revenue-sharing fees to each participant is effective—or prohibitive.
New DOL Guidance Provides Relief, But Concerns Remain
The Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) issued Field Assistance Bulletin (FAB) No. 2012-02R, which supersedes Field Assistance Bulletin No. 2012-02. On May 7, the...
Groups Urge Court to Give Judicial Deference to Plan Administrator
Industry groups are urging a federal appellate court to uphold a ruling for judicial deference to a plan administrator in interpreting a plan under ERISA.