High Court Upholds Presumption of Prudence
The Supreme Court declined to review two cases where plan sponsors were found to have a presumption of prudence related to company stock offerings.
Compliance
Correction Program Sought for 408(b)(2) Errors
Drinker Biddle & Reath asked the Department of Labor (DOL) to provide relief for inadvertent fee disclosure errors.
Court Approves Ending Some Kodak Benefits
A federal bankruptcy court has approved an agreement between Kodak and retirees to end other post-employment benefits (OPEB).
DOL Weighs In on Single-Property Transaction
The Department of Labor (DOL) stated its position regarding whether a purchase or sale of a single property by a pension trust violates ERISA.
ERISA Violation Debts Cannot be Discharged
A court has found that a plan fiduciary cannot discharge debt owed to the plan because of Employee Retirement Income Security Act (ERISA) violations.
Petition Asks IRS to Avoid EIN Deactivating
A recommendation from the American Society of Pension Professionals & Actuaries (ASPPA) would avoid inadvertent deactivation of a retirement plan trust’s EIN.
DOL Investigations of Service Providers
The Department of Labor (DOL) does not only investigate retirement plans, it also investigates service providers.
Gotbaum Urges More Flexibility for Retirement Plans
The job of regulatory agencies is to encourage the offering of retirement plans.
HP 401(k) Eyed for ERISA Violations
Zamansky & Associates LLC is investigating the Hewlett-Packard Company’s 401(k) plan for potential violations of the Employee Retirement Income Security Act (ERISA).
Md. Men Plead Guilty to Pension Theft
Two Maryland men pled guilty to engaging in a scheme to steal allegedly over $9 million from an employee pension plan.
Avoiding Audits Following Fee Disclosure
Following the final Department of Labor (DOL) 408(b)(2) and 404(a)(5) regulations, many providers and plan sponsors were unprepared, but there are best practices to avoid an audit.
Pension Rights Center Wants Halt on De-Risking
In the wake of moves by several large companies to de-risk their defined benefit (DB) plans, the Pension Rights Center (PRC) is calling for a moratorium on such...
Attorneys Ask for Service Provider 408(b)(2) Remedy
Attorneys with the firm Drinker Biddle & Reath have asked the Department of Labor (DOL) to consider a voluntary correction program for service providers failing to meet disclosure...
Retirement Plan Deferral Limit Increases for 2013
The Internal Revenue Service (IRS) announced cost of living adjustments (COLAs) affecting dollar limitations for pension plans and other retirement-related items for tax year 2013.
SSA Announces COLA, New Taxable Wage Base
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 62 million Americans will increase 1.7% in 2013, the Social Security Administration announced.