Compliance
House Committee Advised not To Scare Participants
While individuals speaking during the U.S. House Education and Labor Committee’s hearing on “Strengthening Worker Retirement Security″ described the nation’s retirement system as being “in peril,″ lawmakers were...
Business Groups Renew Opposition to Conn. 401(k) Bill
A representative of several business groups testified before a state legislative committee Tuesday to oppose a proposal for the state of Connecticut to sponsor a 401(k) plan for...
IRS Issues Final Rules for Automatic Contribution Arrangements
The Internal Revenue Service (IRS) Tuesday published final rules relating to automatic contribution arrangements to reflect provisions of the Pension Protection Act and the Worker, Retiree and Employer...
Cuomo Files to Force Thain to Discuss Merrill Bonuses
New York's attorney general filed a court motion on Monday to force former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, according to a...
IMHO: Anything’s Possible
I’ve spent most of my life, certainly my adult life, confident that Americans, certainly in large part, are reasonable and rational.
Hearings on Retirement Security, 401(k) Resurface
The market’s impact continues to weigh on the nation’s retirement security – and it seems that Congress wants to do something about it.
AirTran 401(k) Seeks Assurances on Stanford Group Tie
Stanford Group Cos., the investment house run by disgraced billionaire R. Allen Stanford, has served as the financial advisor to AirTran Airways Corp.’s 401(k) plan – but participants...
Cuomo Subpoenas BoA’s Lewis
New York State Attorney General Andrew Cuomo subpoenaed Kenneth Lewis, chairman and CEO of Bank of America (BoA), Thursday, according to published reports.
Blackberry Maker Execs Settle Backdating Charges
Blackberry maker, Research in Motion (RIM), and four of its senior executives have agreed to settle stock option backdating charges brought by the U.S. Securities and Exchange Commission...
Another Billion-Dollar Investment Advisory Fraud Unfolds
The Securities and Exchange Commission (SEC) Tuesday charged Robert Allen Stanford and three of his companies—including the broker/dealer and investment adviser arms—for orchestrating a massive fraud.
403(b) Relief Is Good News for Plan Sponsors
The Internal Revenue Service (IRS) recently cleared up some confusion about its relief of the written plan document requirement for 403(b) plans.
IMHO: “Winning″ Ways?
We got another verdict on those infamous revenue-sharing lawsuits last week.
OppenheimerFunds Hit with Bond Fund Lawsuit
A San Diego law firm has filed a federal court lawsuit against OppenheimerFunds over allegations fund managers concealed the fact that they had moved the Oppenheimer Champion Income...
North Carolina AG Seeks Information about BoA Bonuses
The attorney general of North Carolina is seeking justification for the bonuses being paid to executives at the Charlotte-based Bank of America (BoA).