Paying a lump-sum distribution from a cash balance plan that was half of what a participant would have received if the plan had not been terminated was...
PricewaterhouseCoopers (PwC) was unable to prove that its calculation of benefits for cash balance plan participants satisfied the Employee Retirement Income Security Act (ERISA), a court found.
A federal appellate court has upheld a ruling that the cash balance plan offered by El Paso Corporation does not violate the Employee Retirement Income Security Act (ERISA)...
Employer-sponsored retirement plans continue to shift away from defined benefit (DB) plans toward defined contribution (DC) and Roth 401(k) savings plans, according to SHRM’s 2011 Employee Benefits report.
The 3rd U.S. Circuit Court of Appeals affirmed a lower court ruling that AT&T did not violate the Employee Retirement Income Security Act (ERISA) and the Age Discrimination...
If you’re working with large retirement plans, and you’ve done a cash balance plan conversion, you may already be in the crosshairs of a new litigation trend.
The U.S. Supreme Court vacated a lower court’s decision on grounds that that it lacked authority under ERISA to reinstate CIGNA's traditional defined benefit plan as a remedy...
A federal judge in Kentucky ruled that cash balance plan participants waited too long before filing amended legal claims challenging their plan's whipsaw lump-sum distribution method.
The adoption of cash balance plans has slowed to a trickle since the passage of the Pension Protection Act of 2006, according to Sibson Consulting, a division of...
Small-business owners are slowly starting to realize that they can’t handle retirement planning on their own, according toE. Thomas Foster Jr., Vice President and National Spokesperson of The Hartford's...
Replacing a gasoline engine with an electric hybrid motor...doubling the number of intake and exhaust valves...installing ABS brakes instead of standard discs...When it comes to cars, advanced designs...
The ERISA Industry Committee (ERIC) submitted to the Treasury Department and Internal Revenue Service (IRS) a series of letters on proposed and final regulations about cash balance and...
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.