The Treasury Department and the Internal Revenue Service (IRS) have issued Notice 2006-100 providing guidance to executive compensation plan sponsors and participants on how to report certain amounts deferred from executive compensation on Forms W-2 or 1009-MISC for calendar years 2005 and 2006.
A white paper released by National Retirement Partners, LLC and The Baker Companies discusses how the American Jobs Creation Act of 2004 (AJCA) and the Pension Protection Act of 2006 (PPA) have clarified administration and funding questions for sponsors of non-qualified benefit plans.
The US District Court for the Northern District of Ohio ruled that claims alleging a fiduciary breach by a retirement plan trustee must seek recovery for such breach on behalf of the plan as a whole, and not individual participant accounts.
A Florida Sheriff’s Department has sued Nationwide Life Insurance Co., over allegations Nationwide’s retirement plan fees unfairly allowed the company to make a profit through a revenue sharing arrangement.
The US District Court for the Eastern District of Michigan has ruled that a plan administrator must pay a former employee $10,500 for failing to provide her with pension plan documents she requested.
The BISYS Group announced Friday that it and staff members of the US Securities and Exchange Commission (SEC) have hammered out a $25.1 million agreement in principle over the SEC investigation into company financial restatements in 2004 and 2006.
Under pressure, AIG VALIC has agreed to disclose its revenue-sharing agreements for a new 457 retirement plan offered to Los Angeles Unified School District (LAUSD) employees.
A federal judge has rebuffed the latest effort by FleetBoston Financial Corp. to derail a lawsuit charging that its cash balance plan discriminates against older workers.
The US District Court for the Western District of Kentucky ruled that, even though the surviving spouse of a retirement plan participant waived her rights to benefits in an antenuptial agreement, the plan document dictated she receive his assets in the plan.
The Hartford Financial Services Group, Inc. has announced a settlement with the Securities and Exchange Commission (SEC) related to its use of directed brokerage and revenue sharing in its mutual fund and variable annuity business.
The National Association of Securities Dealers (NASD) has fined Chase Investment Services Corporation of Chicago and MetLife Securities, Inc. of New York $500,000 each for failing to establish systems and procedures to supervise the sales of 529 College Savings Plans.
If you administer a plan with over 100 participants, the deadline is approaching for providing those participants with one of the required documents, a Summary Annual Report (SAR).
In 44 B.C. a soothsayer advised Julius Caesar to "Beware the Ides of March." It's an admonition that can still apply to 401(k) plan administration today when it comes the to Actual Deferral Percentage Test (ADP).
"Fiduciary" is a word that is generally used in the company of ominous terms like "responsibility" or "liability." But is it a word that describes your role, and if so, is that a good thing?
The National Association of Securities Dealers (NASD) handed down a $4.3 million award to a former Wachovia Securities broker who was fired in 2003 amid the firestorm of market-timing allegations.
On September 26, US Department of Labor (DoL) officials released a proposed safe harbor rule covering retirement plan sponsors who have default investment options for employees entering plans via auto-enrollment or in situations in which individual account plan assets are invested on behalf of participants or beneficiaries who fail to give investment instructions.