DoL Sues Trustees over Company Stock Purchases
The U.S. Department of Labor is suing the trustees and other fiduciaries of the employee stock ownership plans and eligible individual account plans of DirecTECH Holding Co. Inc....
Compliance
MMC Settles Stock-Drop Case
Lawyers for participants in Marsh & McLennan Co.'s (MMC) Stock Investment Plan have hammered out a $35-million settlement with the company of allegations it violated the Employee Retirement...
EBSA to Unveil Regulatory Agenda
The head of the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will host a live public Web chat to discuss its regulatory agenda.
GAO Makes Suggestions to DoL about Fee Reporting
In a new report, the Government Accountability Office (GAO) made suggestions to the U.S. Department of Labor (DoL) to address plan sponsor and provider confusion over new reporting...
DoL Discusses Lifetime Annuity Income Project
The U.S. Department of Labor (DoL) said it is investigating how it can best encourage the use of lifetime annuities or other similar instruments.
SEC to Make Recommendations on 12b-1 Fees, Target-Date Funds
Advisers could be looking at some changes on target-date funds next year—and maybe a change in certain mutual fund fees.
Bill Would Require Disclosure of Participants' Expected Retirement Income
A new bill aims to inform participants of how their account balances translate into actual income in retirement.
DoL to Outline Regulatory Agenda
On Monday, the U.S. Department of Labor will present video remarks by Secretary Hilda L. Solis outlining the department’s regulatory agenda.
IRS Announces 2010 Taxable Wage Base for Permitted Disparity
The Internal Revenue Service has issued Revenue Ruling 2009-40, providing the table of covered compensation for the 2010 plan year for use in determining contributions to defined benefit...
Court Rules Wal-Mart 401(k) Suit Requires Further Discussion
The 8th U.S. Circuit Court of Appeals has vacated a district court's dismissal of a suit alleging Wal-Mart Stores, Inc. breached its fiduciary duties to 401(k) participants by...
Tyco Stock-Drop Settlement Gets Court OK
A federal judge in New Hampshire has given final approval of a $70.5-million settlement of a stock-drop suit against Tyco International.
EBSA Offers Fiduciary Seminar in St. Louis
The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has scheduled a fiduciary education seminar for December 8 in St. Louis.
Oregon Settles with Oppenheimer on 529 Plan Losses
The state of Oregon has reached a $20-million settlement with MassMutual Financial Group's OppenheimerFunds Inc. of losses in a bond fund in the state's 529 college-savings plan.
Boehner Slams Obama Administration for Advice Move
House Republican Leader John Boehner (R-Ohio) today blasted the decision by the Obama Administration to withdraw the final regulations on investment advice.
Monster Employees Seek Stock-Drop Suit Settlement OK
A group of 401(k) participants is seeking court approval of a $4.25 million out-of-court settlement of a stock-drop lawsuit against their employer Monster Worldwide Inc.