IRS Publishes Information for Cycle E Plan Restatements
The information includes worksheets and explanations for the second Cycle E plan language, and explanations of the determination letter review process.
Compliance
Fiduciary Rule Grilled on Capitol Hill
Labor Secretary Perez was just about the only witness called to a recent Congressional hearing to actually defend the DOL’s fiduciary redefinition effort.
World’s Largest Coal Company Faces ERISA Suit
A former employee of Peabody Energy is suing the coal producer over company stock investments in its DC plans.
Oregon Legislature Approves State-Run Retirement Plan
The bill would require private-sector businesses to offer retirement accounts to employees.
Financial Planning Coalition Applauds Fiduciary Rule
Calls update to a 40-year-old rule “long overdue.”
House Committee Moves to Defund Fiduciary Rule Effort
In a section called “Reducing Harmful Red Tape,” the committee proposes a “provision prohibiting regulatory changes to the definition of the term ‘Fiduciary.’”
DOL Announces Hearing About Fiduciary Rule
The announcement also includes the official notice of an extended comment period.
Challenges of Retirement Plans with Union Members
Collective bargaining agreements can make retirement plan administration more challenging.
Court Orders Trial to Determine Plan's Top Hat Status
Unresolved issues remain around the selectivity requirement for top hat plans.
Business Leaders Warn of Fiduciary Rule Fallout
The U.S. Chamber of Commerce issued a report warning the fiduciary rulemaking effort could harm small business employees.
Supreme Court Seeks Input About ERISA Lawsuit Venue
The U.S. Supreme Court has been asked to weigh in on whether a retirement plan may dictate the venue in which participant lawsuits are filed.
DOL Sues Firm Over Company Stock Purchases
The Labor Department filed suit against a California-based manufacturer to recover millions of dollars for ESOP plan participants.
4th Circuit Revives Case Over Transfers to Cash Balance Plan
The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
IRS Expands Pre-Approved Plans Program
Cash balance plans and ESOPs can now be submitted for an approval letter from the IRS.
Settlement Reached in Fannie Mae Stock Drop Suit
Affected participants will receive $9 million, less attorneys’ fees and settlement expenses.
Bill Seeks More Digital Retirement Plan Communication
A group of Republican and Democratic members of the U.S. House introduced the Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act.
U.S. Recommends Denial of RJR Stock Case Review
U.S. Solicitor General Donald B. Verrilli Jr. said the questions before the Supreme Court in RJR Pension Investment Committee v. Richard G. Tatum do not warrant the court’s...
PSNC 2015: Avoiding Lawsuits
It’s often simply a lack of oversight and processes not followed.
PSNC 2015: The Regulatory Environment
Lifetime income, service provider process changes and privacy of retirement plan information are just a few things for which plan sponsors need to prepare.
A Ponzi in Miami Targeted Retirees, SEC Says
A Miami investment adviser allegedly used a Ponzi scheme to siphon his investors’ retirement assets.