Compliance

Suffolk County (New York) prosecutors say a Long Island CEO looted his employees' retirement accounts and bought expensive cars with the money.

The Department of Treasury and the Internal Revenue Service have invited public comment on recommendations for items that should be included on the 2012-2013 Guidance Priority List.

A federal court dismissed a 401(k) plan participant’s claims that plan fiduciaries inappropriately selected plan funds and allowed excessive fees.

Kraft Foods Global agreed to pay $9.5 million to settle a lawsuit over excessive fees for its 401(k) plan investments.

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is hosting a voluntary fiduciary correction program (VFCP) advanced workshop.

The Internal Revenue Service (IRS) issued a private letter ruling concluding that defined benefit (DB) plan participants who stop working for their employer with the explicit expectation of...

Some industry experts are concerned that covered service providers will misinterpret the Department of Labor’s (DoL) 408(b)(2) regulation guidance about using ranges to estimate indirect compensation.  

An appellate court in New Jersey found a public worker did not intend to mislead the state and does not need to repay $258,191 in pension benefits mistakenly...

The Tribune Co., GreatBanc Trust Co. and various insurance carriers completed funding a global settlement of $32 million for the Tribune Employee Stock Ownership Plan’s participants. 

 The Internal Revenue Service (IRS) released revised Form 941, enabling employers to properly report the newly extended payroll tax cut.   

The U.S. Department of Labor (DoL) obtained a summary judgment ordering Compass Capital Partners Ltd. and owner Harris M. DeWese to restore $661,206 to the defunct West Chester,...

The 6th U.S. Circuit Court of Appeals revived a stock drop lawsuit brought by General Motors retirement plan participants against State Street.

The Financial Industry Regulatory Authority (FINRA) issued an investor alert called “It Pays to Understand Your Brokerage Account Statements and Trade Confirmations.”

The Securities Industry and Financial Markets Association (SIFMA) developed an Institutional Suitability Certificate to facilitate broker/dealer compliance with new FINRA Rule 2111, specifically when dealing with institutional clients. 

A federal appellate court ruled in favor of an employer that denied a claim for retirement benefits by a former employee’s sister because it found no evidence of...

There is much opportunity for advisers in the 403(b) church plan market, but one should get educated first, because church plans are different.

 Initiatives in President Barack Obama’s budget proposal would impact retirement savings for some workers. 

The current tax treatment of 401(k) plans costs the U.S. Department of Treasury between $50 and $70 billion per year, says a recent analysis.

February 15, 2012 – Do sponsors of 403(b) plans that are not governed by the Employee Retirement Income Security Act (ERISA) have fiduciary responsibilities to the plan and...

 An employer breached his fiduciary duties under the Employee Retirement Income Security Act (ERISA) by failing to honor a former employee’s rollover distribution request.