Ex-Wife Entitled to 401(k) Account Balance
Even though an ex-wife waived her right to her now-deceased ex-husband’s 401(k) plan savings, she is still entitled to the money, a federal judge in New Jersey has...
Compliance
American Express Cleared in Stock-Drop Case
A federal judge in New York threw out a stock-drop lawsuit against the American Express Company.
Groups Say SEC Rule Should not Interfere with Payment for Services
The American Society of Pension Professionals & Actuaries (ASPPA) and the Council of Independent Recordkeepers (CIKR) asked federal regulators to consider the impact on retirement and benefit plans...
SPARK Calls for SEC to Rexamine Proposed Rule
The SPARK Institute sent comments to the U.S. Securities and Exchange Commission (SEC) regarding the potential impact on retirement plan intermediaries due to the proposed rule regarding mutual...
DoL Sues Defunct Landscaper Over Diverted Plan Assets
The U.S. Department of Labor (DoL) sued the owner of a defunct landscaping company for allegedly paying operating expenses using employee contributions to the company’s savings incentive match...
Stock-Drop Suit Survives Initial Challenge
A federal judge in Kansas cleared the way for former YRC Worldwide employees to move forward with their stock-drop suit against the trucking company.
Plumbing Company Owner Guilty of 401(k) Plan Theft
A U.S. District Court jury found the former owner of a plumbing company in Texas guilty of embezzling from its 401(k) plan.
Maximum Benefit and Contributions Limits for 2002-2011
as published by the Internal Revenue Service
Trade Groups Request Guidance on In-Plan Roth Conversions
The Investment Company Institute (ICI) and the American Benefits Council (ABC) have requested immediate guidance on section 2112 of the Small Business Jobs Act of 2010.
IRS Announces 2011 Benefit Limits
The Internal Revenue Service (IRS) on Thursday announced that the 2011 deferral limit for 401(k), 403(b) or 457(b) plans and the federal government’s Thrift Savings Plan is unchanged...
Some SunTrust Stock Drop Claims Thrown Out
A federal judge in Georgia rejected claims SunTrust Banks breached its fiduciary duty by keeping company stock as an investment option in its 401(k) plan after it was...
SEC Working to Improve Complaint Handling
The Securities and Exchange Commission is working to have new technology to handle tips and complaints in place by the end of the year.
SPARK Institute Urges Caution on In-Plan Roths
The SPARK Institute, a retirement services trade group, is advising plan sponsors to not act hastily when deciding whether to offer in-plan Roth conversions as a result of...
Cash Balance Plaintiff to get Attorney’s Fees
A federal judge in Illinois ruled that a participant in the Verizon Communications cash balance plan is entitled to attorney’s fees for her long-running legal battle even though...
Former EBSA Secretary Questions Fiduciary Proposal
The former Assistant Secretary of the Department of Labor’s (DoL) Employee Benefit Security Administration (EBSA) said the fiduciary definition proposal by the DoL is addressing issues already addressed...