Alliant Tagged for Pre-PPA Whipsaw Calculation
Alliant Energy Corp. improperly used a 30-year Treasury rate for whipsaw calculations for lump-sum distributions from its cash balance plan to employees younger than the retirement age, a judge ruled.
Tag: Cash Balance
AT&T Cleared in Cash Balance Suit
A federal judge in New Jersey has ruled that AT&T did not violate the Employee Retirement Income Security Act (ERISA) and the Age Discrimination in Employment Act (ADEA) with its cash balance plan.
PwC Cleared of Anti-Cutback Claims over BofA Plan Transfers
A federal court has dismissed claims that PricewaterhouseCoopers knowingly participated in a violation of the Employee Retirement Income Security Act (ERISA) anti-cutback rule by allowing Bank of America to transfer assets from its 401(k) plan to its cash balance plan.
Kravitz Report Cites Surge in Cash Balance Plans
Based on an analysis of government filings, a new report claims that cash balance plan designs have enjoyed a 359% increase in six years.
Participants Not Due Additional Benefits Based on Defective SPD
A federal court has ruled that cash balance plan
participants are not due additional benefits because a summary plan description
(SPD) failed to inform them of an offset to their benefits calculation.
Guardian Investment Products Available for Cash Balance Plans
The Guardian Insurance & Annuity Company, Inc., announced that two
of its group retirement products can now be used to fund cash balance
plans.
Kravitz to Offer Cash Balance Plan Administration Workshops
Kravitz, provider of cash balance plan design and administration, is
launching a series of free Cash Balance Administration workshops and
Webinars for plan sponsors.
IRS Delays Plan Amendment Timetable
The Internal Revenue Service (IRS) has given plan sponsors more time to adopt plan amendments to implement a variety of Pension Protection Act (PPA) requirements, including allowing participants to divest out of company stock.
CDM Retirement Consultants Adds DB Administration
CDM Retirement Consultants, Inc., a Towson, Maryland, provider of open-architecture retirement plan solutions, is now offering administration services for defined benefit plans, including cash balance plans.
IRS Site Helps Employers Navigate Retirement Plan Waters
Small-business employers looking for basic guidance about the array of workplace retirement plans from which they can choose can now get their questions answered at a new federal Web site.
Security Mutual Releases Retirement Plan Guide for Advisers
Security Administrators, Inc., a subsidiary of Security Mutual Life Insurance Company, introduced a guide about fully insured plans and cash balance plans.
Hartford Releases Cash Balance Offering for Small Businesses
The Hartford has announced a new cash balance program for small businesses and professional entities.
Employer Wins One, Loses One in Cash Balance Case
Monsanto Co. walked away with a mixed outcome from two rulings by a federal judge in Illinois—one in the employer’s favor and a second in favor of participants—regarding Monsanto’s cash balance plan.
Remaining JPMorgan Cash Balance Suits Settle
Class-action law firm Keller Rohrback L.L.P on Tuesday announced the settlement of a 2006 challenge to the JPMorgan cash balance plan.
Platforms Pick up Cash Balance Fund
The Payden/Kravitz Cash Balance Plan Fund, described as the "first and only mutual fund designed exclusively for Cash Balance Pension Plans,″said it has been added to 10 provider platforms
Branching Out
Making your practice about more than 401(k)s
Best of Both Worlds
Once the province of large plans, "hybrid" cash balance now makes sense for micro plans
Identity Crisis
How to know what you don't know