| Judge Rejects Parts of DOL ESOP Expert Commentary in Fiduciary Breach Litigation |
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A complicated decision out of a Virginia district court weighs the merits of third-party expert commentary in ERISA litigation, in this case pertaining to an allegedly improper ESOP transaction.
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| Even Passive TDF Glide Path Designs Require Active Thinking |
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“There is no such thing as a passive glide path design, and this, as well as the many other active decisions that go into the creation and management of a TDF, can translate into meaningful differences in investment risks and results, even among passive TDFs,” observes Jake Gilliam at Charles Schwab.
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| Retirement Income Options |
| “In mainstream corporate America, there is a lot of hand-wringing about retirement income for DC participants, but foot-dragging when doing anything about it,” observes Martha Tejera, head of plan consulting firm Tejera & Associates and a board member of the Institutional Retirement Income Council.
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| DB Plan Sponsor Owes Taxes for Miscalculating Annual Benefit Limitation |
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A tax court found that the Commissioner of Internal Revenue’s report, which was prepared by an actuary, was in line with actuarial practice in calculating the annual benefit limitation, which drives DB plan contribution amounts, while the plan sponsor’s report, not prepared by an actuary, was not. A federal appellate court agreed with this.
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