Charles Schwab on Tuesday agreed to pay more than $119 million to settle charges of wrongdoing in connection with the marketing of its Schwab YieldPlus Fund.
The U.S. Tax Court upheld a decision by the Internal Revenue Service (IRS) that an employee stock ownership plan (ESOP) and its employee stock ownership trust (ESOT) are not...
After filing an amended complaint, participants of Medtronic Inc.’s retirement plan failed to convince the court that the company breached its fiduciary duties by continuing to offer company...
A federal judge in New York rejected claims that plan fiduciaries are immunized against stock drop suits if the plan mandates company stock investments; a decision not commonly...
Former owners of a St. Paul, Minnesota, business services company are jointly liable for repaying losses to the company’s retirement plan after they used plan assets to pay...
A former employee of American International Group Inc. filed a lawsuit claiming PricewaterhouseCoopers L.L.P. was negligent in its audits of AIG and failed to pursue a claim against...
A federal judge in Wisconsin has ordered Alliant Energy Corp. to use an 8.2% interest rate when it carries out lump-sum distributions from its cash balance program.
In a live Web chat discussing the Department of Labor’s Employee Benefits Security Administration’s (EBSA) Semiannual Regulatory Agenda, Assistant Secretary of Labor Phyllis C. Borzi said the Agency will...
Steven Rattner, former founding principal of private equity firm Quadrangle Group and former Obama administration "car czar," has agreed to a $10 million settlement of pension pay-to-play charges...
Savannah, Georgia-based Memorial Health will suspend its matching contributions to employees’ retirement accounts for at least a year, beginning February 1.
A lawyer accused of financial wrongdoing should receive a 401(k) distribution of his plan savings from his old law firm, but not the employer’s contributions, a federal judge...