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Pay Check
Sometimes, tracking your income can be the hardest part of serving the retirement plan market
Tag: ERISA
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Buddy System
Retirement plan relationships are evolving from a casual give and take toward something more formal
ERISA Class Actions Picked up in 2009
The nation’s economic downturn has prompted plaintiffs’ lawyers to increase the pace of filing of class action lawsuits to recover 401(k) plan losses under the Employee Retirement Income...
Principal's Hold on Real Estate Fund Sparks Lawsuit
After imposing a withdrawal queue on distributions from a real estate fund, The Principal Financial Group now finds itself targeted with a participant lawsuit.
Vick Advisers Barred from ERISA Plans
Michael Vick’s former financial advisers won’t be working with ERISA plans anymore.
SPARK Seeks Comments on Form 5500 Guidelines for 403(b)s
The SPARK Institute has released a draft of new guidelines for ERISA-covered 403(b) plans that, due to new regulations, must now file a full Form 5500.
White Paper Helps 403(b) Sponsors with Fiduciary Roles
Diversified Investment Advisors, Inc., has released a white paper about 403(b) plan compliance with statutes of the Employee Retirement Income Security Act (ERISA).
IRS Audit Project Finds Low Bonding Coverage Problem
When the Internal Revenue Service (IRS) put about 50 Form 5500 filings to the test recently, the plans filing the annual reports flunked on one major issue—buying enough...
U.S. Sugar Agrees to $16M-Settlement of ERISA Claims
Clewiston, Florida-based U.S. Sugar has agreed to pay $15.9 million to settle a breach of fiduciary duty lawsuit brought by 4,000 current and former employees, BLR reported.
DoL Discusses Lifetime Annuity Income Project
The U.S. Department of Labor (DoL) said it is investigating how it can best encourage the use of lifetime annuities or other similar instruments.
Court Rules Wal-Mart 401(k) Suit Requires Further Discussion
The 8th U.S. Circuit Court of Appeals has vacated a district court's dismissal of a suit alleging Wal-Mart Stores, Inc. breached its fiduciary duties to 401(k) participants by...
IMHO: The Benefits of the Doubt
Those who were wondering when—or perhaps if—the issues raised in those revenue-sharing lawsuits would ever actually be tried got a strong, affirmative response last week.
IMHO: Tractor “Trailer”
About a week ago, Caterpillar agreed to a $16.5 million settlement of one of those allegedly excessive fee/revenue-sharing lawsuits.
Proskauer Rose Law Firm Broadens Benefits Practice
A group of employee benefits lawyers led by Paul M. Hamburger have left McDermott Will & Emery’s Washington, D.C. office to establish the D.C. employee benefits practice of...
QVC Ends 401(k) Loan Investigation
QVC officials have completed their investigation into alleged employee misconduct in taking 401(k) loans, but declined to say if they found any fraud or if any workers had...
IMHO: Duty Calls?
When it comes to qualified retirement plans, there are three kinds of people: people who are fiduciaries and know it, people who aren’t fiduciaries and know...
Woman Sentenced to Prison for 401(k) Theft
A woman accused of stealing from a co-worker’s 401(k) account has been sentenced to a one-year jail term.
Court Finds No ERISA Violation in Wachovia Fund Merger
Wachovia Bank did not violate the Employee Retirement Income Security Act (ERISA) when it sent a form letter to investors notifying them of a fund's merger with another...
High Court Accepts Xerox ERISA Case for Review
U.S. Supreme Court justices have agreed to consider an appeal of a case involving the method used by the Xerox Corp. pension plan to figure out how much...
EBSA Fiduciary Program Heads to "Hotlanta"
The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) is taking its compliance seminar series to Atlanta.