Texas Adviser Settles with SEC for Wrongful Fees
Jim Poe and Associates Inc. received $637,843 from nonqualified clients, according to the Securities and Exchange Commission (SEC).
Compliance
Court Approves Benefit Refund Request
A plan sponsor’s request that a retiree return nearly $730,000 in overpaid pension benefits has won court approval.
PBGC Moves Premium Date for Large Plans
The Pension Benefit Guaranty Corporation (PBGC) is moving the flat-rate premium due date for large plans to later in the premium payment year.
FINRA to Examine IRA Rollovers
Reviewing firm practices for recommending and marketing individual retirement account (IRA) rollover services will be a 2014 priority for the Financial Industry Regulatory Authority (FINRA).
DOL Issues 2014 Retirement Plan Pipeline
The retirement industry is anticipating a fiduciary re-definition and rules about lifetime income illustrations for plan participants, but there is much more in the pipeline.
Court Remands Benefit Offset Case
A federal appellate court has vacated a ruling about offsetting pension benefits and remanded the case back to a district court.
DOL Sues to Restore ESOP Losses
The Department of Labor (DOL) is seeking to restore losses to an employee stock ownership plan (ESOP) based in Warsaw, Indiana.
FINRA Proposes Automated Oversight
The Financial Industry Regulatory Authority (FINRA) is soliciting comments on a proposal to standardize and automate account activity and security reviews for its members.
DOL Seeks Removal of 401(k) Trustee
The Department of Labor (DOL) hopes to remove the trustee of a 401(k) plan based in Elgin, Illinois.
IRS Establishes System for Voluntary Closing Agreements
Retirement plan sponsors can now submit voluntary closing agreement requests to the Internal Revenue Service (IRS) Employee Plans Voluntary Compliance function.
IRS Updates Information About 403(b) Plans
The Internal Revenue Service (IRS) has updated two publications relating to 403(b) plans.
Plan Costs and Fee Disclosures
One year after new Department of Labor (DOL) fee disclosure rules, do sponsors know how much their defined contribution plans cost?
Trustee to Restore Profit-Sharing Assets
The Department of Labor (DOL) has received court authorization to compel the trustee of a profit-sharing plan in Aiea, Hawaii to restore mismanaged plan assets.
SCOTUS Upholds Litigation Limitation Period
The Supreme Court upheld the ruling of two lower courts in a case testing litigation limitations in plans covered by ERISA.
States Tax Rules for Same-Gender Couples
A number of states have released guidance regarding state income taxation for same-gender married couples.