A recent decision by the U.S. Supreme Court seems to limit the ability of ERISA plans to seek equitable relief or reimbursement of payments from a third-party recovery—especially in cases where the money is not quickly and formally pursued.
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A notice from the IRS gives guidance to plan sponsors, applying the Supreme Court’s same-sex marriage case to retirement plans, as well as other benefits. The landmark case, Obergefell v. Hodges, decided in June 2015, held that under the 14th Amendment states cannot deny same-gender couples the right to marry and must recognize same-gender marriages performed in other states.
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The U.S. Supreme Court found an appellate decision regarding a Verizon pension plan risk transfer flawed, considering the trust law underpinnings of the Employee Retirement Income Security Act.
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The late Supreme Court Justice Antonin Scalia had a direct (but not necessarily pivotal) role in shaping many of the SCOTUS decisions tracked in recent years by the retirement planning industry.
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The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.
Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.
The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.
