Cash Balance Plans More Popular With Smaller Plan Sponsors
An analysis from October Three also finds certain industries are more drawn to the plan design that is viewed as less risky than traditional DB plans.
Court Agrees Colgate-Palmolive Miscalculated Cash Balance Benefit Payments
A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief to allow time for an appeal.
Cash Balance Plans On Pause Among Small Businesses
For cash balance plans that were left unfrozen, small business employers may have been able to utilize a PPP loan to fund it.
Is the 20-Year-Old Amara v. CIGNA Case Finally Done?
A court disagreed with plaintiffs that CIGNA was not following orders when calculating remedies in the case, and the court has now denied a review of that decision.
CIGNA Cash Balance Participants Say Company Is Not Following Court Orders
Plaintiffs in the long-standing Amara v. CIGNA case say the company is using alternative methods than what a court ordered to calculate cash balance plan benefits that would take away "hundreds of millions of dollars in the relief provided to remedy CIGNA’s disclosure violations.”
TPA Announces Cash Balance and DB Plan Administration Fees
Steidle Pension Solutions, LLC (SPS) announced that plan sponsors using SPS administration and actuarial services will pay only $1,200 for full-service administration, and its plan document restatement fee is only $325.
Cash Balance Plan Clients Need Specialized Administrative Systems
MetLife Pension Calculations Questioned in ERISA Complaint
The complaint suggests MetLife is failing to meet its obligations to ensure different annuity options offered to pension plan participants are actuarially equivalent default benefit, as required under ERISA.
Cash Balance Plans on the Rise
How to Abide By the Rules When Amending a Cash Balance Plan Interest Crediting Rate
Internal Revenue Code (IRC) Section 411(d)(6) provides that an accrued benefit may not be decreased by amendment.