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...
Compliance
District Court Sides with Checksmart and Cetera in ERISA Fee Litigation
After siding with defendants and applying the shorter of two potential limitations periods, the district court decision states clearly that plaintiff’s claims are foreclosed by ERISA's three-year statute...
Peering Through the Regulatory Kaleidoscope
Spend any significant amount of time in the retirement planning industry and, whatever the role, one will inevitably hear about the negative impact of “regulatory uncertainty.” Has it...
In Focus at DOL: Missing and Terminated Participants
Over the last few years, all three federal agencies that regulate retirement plans have been focusing on missing participants; advisers have a key role to play when it...
Legislation Would Boost Retirement Plans for Small Businesses
It would raise the contribution limits for SIMPLE plans and modernize form filing requirements.
Operating Under Rules of ERISA Does Not Mean Church Plan Elected to Be ERISA Plan
In a series of private letter rulings, the IRS has determined that plans in question, including a 403(b) plan, are church plans under the definition clarified in a...
Student Debt Doesn’t Make Hardship, But Tuition Might
Two experienced ERISA attorneys at Drinker, Biddle and Reath warn against the idea of participants seeking a hardship withdrawal for the purpose of paying down student loan debt;...
Retirement Savings Lost and Found Act Reintroduced in Congress
The bill would create an online database for participants to find "lost" retirement accounts and would change rules for automatic cashouts and rollovers.
District Court Ruling in Multiemployer Pension Withdrawal Case Okays Use of Segal Blend
The case arose from Manhattan Ford’s withdrawal from the UAW Local 259 Pension Fund, and an arbitrator’s calculation of about $2.55 million in withdrawal liability for the employer....
Allergan Wins Stock Drop Suit Dismissal, Echoing Key SCOTUS Decision
Under the paradigm created by the Supreme Court’s ruling in a case known as Fifth-Third v. Dudenhoeffer, plaintiffs continue to have difficulty proving standing in ERISA stock drop...
OregonSaves State-Based DC Plan Marks First Birthday
According to state authorities, the combined savings of the first groups of participating savers is approaching $5 million.
Plan Documents Require Update After Tax Reform
The new law extends the time a participant has to repay loans from 60 days after an offset to the date their tax return is due.
Exciting Announcements About 2018 PLANADVISER National Conference
New at this year’s conference, advisers will have the ability to earn their PLANSPONSOR Retirement Professional designation while in attendance, and we are particularly excited for our opening...
PBGC Aligns Disaster Relief Directly With IRS Announcements
Rather than issuing stand-alone announcements each time IRS grants disaster relief, PBGC is streamlining the process by issuing a permanent announcement regarding its own disaster relief that comes...
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...
How to Abide By the Rules When Amending a Cash Balance Plan Interest Crediting Rate
Internal Revenue Code (IRC) Section 411(d)(6) provides that an accrued benefit may not be decreased by amendment.
Matrix Trust Company Accused of Making Unauthorized Transfers of 403(b) Plan Assets
403(b) plan participants have filed a lawsuit against Matrix Trust Company for making several transfers to an unauthorized account held by recordkeeper Vantage Benefits Administrators.
DOL Taking Its Fiduciary Responsibilities Seminar to Miami
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
PSCA Calls for Clearer Guidance from IRS and DOL on Missing Participants
The plan sponsor advocacy organization says there have been “numerous reports of aggressive DOL enforcement activity, and sometimes inconsistent positions taken by DOL auditors, regarding how plan sponsors...
Second Amended ERISA Complaint Targeting Xerox HR Solutions Tossed by District Court
Considering a second amended complaint much broader than the original, a district court has once again rejected allegations by participants in a Ford Motor Company retirement plan that...