DOL Announces Two Know Your Fiduciary Responsibilities Seminars
The one in Detroit will take place on June 5 and in Wilmington, Delaware, June 25
Tag: ESOPs
IRS Discusses Ways ESOPs Can Prevent Violation of Nonallocation Year Rules
Since there are no prescribed correction methods to address Internal Revenue Code Section 409(p) violations, prevention methods are important considerations for both employee stock ownership plan design and...
ESOPs Offer Additional Business Opportunity for Retirement Plan Advisers
Employee stock ownership plans deliver benefits to employers and employees. Advising ESOPs can bring new opportunities.
DOL to Hold Fiduciary Responsibilities Seminar in Portland
In addition, the agency is holding a three-day webcast series in March.
DOL Fiduciary Responsibilities Seminar Coming to San Diego
In addition, the DOL has announced a “Getting It Right – Know Your Fiduciary Responsibilities” webcast series will be held March 12 through March 14.
IBM Stock Drop Litigation Revived by 2nd Circuit
The decision breaks from other cases in which district and appellate judges have found plaintiffs did not meet strict pleading standards established by the influential Dudenhoeffer decision.
S Corporation ESOPs Can Give Workers a Retirement Savings Advantage
In such plans, they have more than twice the average retirement balance of other workers.
Fiduciary Duties for Auto-Portability Solution Spelled Out by DOL
The DOL has issued an advisory opinion letter in response to a request by Retirement Clearinghouse (RCH), for the Department’s opinion on the status of certain parties as...
ESOPs Can Boost Company Performance and Participant Savings
For the third year in a row, respondent companies to the ESOP Association's annual survey saw profits rise more than revenue, and a more than half of companies...
DOL Called Out for Lack of ESOP Guidance
A letter to the president from members of Congress asks for protection against the DOL's practice of “regulation through litigation.”
DOL, Reliance Trust Settle ESOP Pricing Lawsuit
Reliance Trust will pay $4,545,454 back to the plan within 30 days.
Closely Watched Case Regarding Burden of Proof Dismissed And Settled
A significant split among circuit courts on this issue remains unresolved.
Bill to Help Companies Establish ESOPs Signed by President
"As businesses become more aware of employee ownership's advantages—which include higher corporate performance, a share in the rewards for employees, and a retirement plan that often outperforms other...
Second Decision in Wells Fargo Stock Drop Case Parses ‘Loyalty’ and ‘Prudence’
Given a second chance to argue their case, participants in a Wells Fargo retirement plan have again failed to meet the steep pleading standards set out by the...
Rainbow ESOP Challenge Easily Beats Motions to Dismiss
Plaintiffs in the lawsuit are participants and beneficiaries of the Rainbow Disposal Co., Inc. Employee Stock Ownership Plan, who seek to restore losses to the plan and to...
DOL Investigation Results in $5 Million ESOP Settlement
The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010...
Bill Introduced to Help Small Businesses Offer ESOPs
It would provide $500 million in support of employee stock ownership plan (ESOP) programs and would operate through the Small Business Administration.
ESOP Participants to Receive More Than $2 Million for Overpayment of Stock
A federal district court has entered a consent judgment requiring the fiduciaries of the Sonnax Industries’ employee stock ownership plan (ESOP) to pay $2,225,000 to the plan.
Judge Rejects Parts of DOL ESOP Expert Commentary in Fiduciary Breach Litigation
A complicated decision out of a Virginia district court weighs the merits of third-party expert commentary in ERISA litigation, in this case pertaining to an allegedly improper ESOP...
ESOP Knowledge Can Provide Real Adviser Differentiation
In an interview with PLANADVISER, Jerry Ripperger, vice president of consulting at Principal, highlights a new, fee website the firm has rolled out to help advisers and their...