Compliance

Feb 03, 2012 -- Members of the retirement plan community were mostly positive about the final rule on 408(b)(2) fee disclosure regulations.

Feb 02, 2012 -- The U.S. Treasury Department announced a proposal to reduce regulatory burdens and make it easier for retirees to choose to receive their benefits as a stream of income in regular payments for as long as they live.

Feb 02, 2012 -- The U.S. Department of Labor’s (DoL) Employee Benefits Security Administration (EBSA) issued a final rule on 408(b)(2) fee disclosure Thursday.

January 26, 2012 -- The 6th U.S. Circuit Court of Appeals dismissed a claim of benefits interference against Duke Energy Corporation.

January 26, 2012 -- A federal court dismissed a claim that Wal-Mart Stores breached its fiduciary duties in underpaying retirement plan contributions based on wages that were discriminatory against women.

January 23, 2012 -- Industry groups sent a comment letter to the Internal Revenue Service to support the inclusion of 403(b) plans in the prototype program for pre-approved plan documents.

January 17, 2012 -- A federal appellate court has found that a profit-sharing plan must pay back more than $1 million in assets wrongly transferred from a participant’s account, even thought it has not recovered the misplaced funds.

January 13, 2012 -- The Department of Labor (DOL) announced upcoming voluntary fiduciary correction program workshops in three states.

January 11, 2012 -- A new FAQ from the Internal Revenue Service addresses when a plan administrator may answer “yes” to Question 8 on the new Form 8955-SSA, affirming that the required information was timely furnished to participants.

January 09, 2012 -- Monocacyfabs Inc., of Bethlehem, Pennsylvania, has been ordered to restore $34,000 to its 401(k) plan.