Court Refuses to Dismiss Claims over Misplaced Transfer
A federal court decided neither a plan participant nor ConAgra Foods retirement plan and committee has met its summary judgment burden...
Tag: Rules & Regs
PANC 2010: Keeping up with D.C.
A panel at the PLANADVISER National Conference discussed what is happening with regulators and in Congress that will affect retirement plan advisers and their clients.
Charts and Graphs Are Good, but Don’t Change Target-Date Fund Names
Most industry players responding to the Securities and Exchange Commission’s proposed disclosure rules for target-date funds agreed with the idea of using charts and graphs to illustrate glide...
Law Firm Investigates Potential ERISA Violations by GlaxoSmithKline
Holzer Holzer & Fistel, LLC is investigating potential violations of the Employee Retirement Income Security Act (ERISA) by GlaxoSmithKline plc.
NJ Hit with Fraud Charges for Pension Funding Disclosure Failures
In the first such action of its kind, the U.S. Securities and Exchange Commission (SEC) charged the state of New Jersey with securities fraud for not properly disclosing...
Regs Exempting Plan Loans from Disclosure Requirements in Effect
New Federal Reserve regulations exempting most plan loans from federal Truth in Lending Act (TILA) disclosure requirements became effective in July.
Court OKs $16.5M Caterpillar 401(k) Fee Pact
A federal judge has given final approval to a $16.5-million settlement of an excessive 401(k) fee suit against Caterpillar, Inc.
PBGC Takes Chicago Sun-Times Pension Plans
The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for seven plans covering almost 2,360 workers and retirees of the Chicago Sun-Times.
Auto IRA Bill Introduced in the House
Massachusetts Congressman Richard E. Neal has introduced the Automatic IRA Act of 2010 in the U.S. House of Representatives.
Verizon Allowed to Fix Plan Drafting Mistake
Admitting it was creating “tension” with the plan documents rule in federal benefits law, a federal appellate court has allowed an employer to correct a drafting error that...
Parties Settle General Dynamics 401(k) Fee Case
General Dynamics Corporation and Fiduciary Asset Management (FAMCO) have agreed to a $15.1-million settlement of a 401(k) excessive fee lawsuit.
EBSA Unveils Online ERISA Exemption Index
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has launched an online index for locating individual exemptions granted under the Employee Retirement Income Security Act (ERISA). ...
DoL Says no Extension to Form 5500 Deadline
The Department of Labor has decided not to grant a blanket extension for filers of Form 5500 and Form 5500-SF.
The IRS to Issue a How-To for PRA Funding Relief Elections
The Internal Revenue Service (IRS) said it will be issuing detailed guidance about the special funding rules for single-employer defined benefit plans in the recent Pension Relief Act...
EBSA Announces Fiduciary Seminar in Philadelphia
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is taking its “Getting It Right – Know Your Fiduciary Responsibilities” seminar to Philadelphia.
SEC Proposes Rules on 12b-1 Fees
The Securities and Exchange Commission (SEC) has proposed measures aimed at improving the regulation of mutual fund distribution fees and providing better disclosure for investors.
Blackout Notice Suit Allowed to Move Forward
A federal judge in Ohio ruled that a 401(k) profit-sharing plan and two participants can press forward with their lawsuit alleging that Principal Life Insurance Co. breached its...
Trade Group Urges Form 5500 Deadline Delay
A retirement services industry group has sent a letter to federal officials urging they put off the deadline for filing the Form 5500 and 5500SF for the 2009...