ERISA attorneys detail the recent expansion of the IRS determination letter program, and what it means for plan sponsor clients.
However, 403(b) plans are in a remedial amendment period, and the IRS has offered much help for them to be in compliance with regulations.
The lawsuit accuses the sponsor of a small 401(k) plan with failing to monitor and correct excessive fees.
Apart from discussing the RESA legislation, witnesses and Senators at a Finance Committee meeting spoke about the pressing need to address severe funding shortfalls faced by some union pension plans.
Sources say the SECURE Act could pass the House this month, potentially setting the stage for a reconciliation process that could bring together common elements of multiple pending bills.
Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.
The text of the decision highlights that Federal Rule of Civil Procedure 15 provides that a court may permit a party to amend its pleadings “when justice so requires,” and absent special circumstances, such leave should be “freely given.”
Controlled group information, company financial statements, and the defined benefit (DB) plan’s actuarial valuation report; some of all of this information will be added to five reportable events.
The agency explains that, in limited situations, employers will be able to use the soon-to-be issued coverage forms to request an opinion letter about whether a plan being developed is likely to receive PBGC coverage.
Rather than filing an Employee Retirement Income Security Act (ERISA) action in federal court, the plaintiffs filed the complaint in state court alleging the Archdiocese of Newark violated New Jersey contract and trust law.
Nothing in the settlement agreement calls for Eaton Vance to make any changes to its investment menu for the plan.
An appellate court revived two claims in the lawsuit that had been previously completely dismissed by a District Court, but in a dissenting opinion, one judge expressed concern about permitting implausible allegations to result in a large settlement.
FINRA claims AXA Advisors sent disclosures to 401(k) plan sponsors and participants that misrepresented the credit quality of bond funds with group annuity accounts.
During an exchange on Capitol Hill on Wednesday, the Democratic representative from Ohio pressed DOL Secretary Alexander Acosta for details on how the regulator is addressing advisory industry conflicts of interest.
Hybrid plans and merged plans can now request a determination letter.
The latest legislation to affect retirement planning in 2019 and beyond.
The state’s former securities chief says recently issued fiduciary regulations have been crafted in the interest of aggressively tamping down on conflicts of interest in the financial services industry.
Plan fiduciaries have agreed to prohibit service providers from using data generated in serving the plan to market or sell unrelated products to Vanderbilt 403(b) plan participants.