Compliance

A new law, effective on January 1, provides that all employers sponsoring FSA plans must provide notice to participants of deadlines to withdraw funds.

CenturyLink seems to be off the hook regarding a specific fund offered in its 401(k), but its investment management company still faces litigation.

Among the non-monetary elements of the settlement is a requirement to conduct a recordkeeping RFP process that will result in a per-participant fee structure.

Although a judge said annuity relationships may be “akin to a hostage-type situation,” he still recommended the suit against Columbia University move forward.

Among other things, the lawsuit says Goldman Sachs did not prudently use revenue-sharing payments.

“Overall, it is an uncertain picture, but the SECURE Act is not dead in the water,” says Bradford Campbell, former EBSA head from 2006 to 2009. “I would...

Georgia’s Supreme Court found a contract that required the Board to provide a two-year notice before changing plan funding was not voided by subsequent plan restatements.

The new rule would offer a safe harbor for sponsors that want to make retirement plan disclosures available on websites.

Attorneys explain that one order attempts to limit the force and effect of sub-regulatory guidance and the other would limit enforcement when no clear guidance exists.

A client alert says the SEC has sent letters to companies that administer 403(b) and 457 retirement plans asking for various details about plan investment decisions.

This protection by the PBGC is one reason for a string of lawsuits that challenge other nonprofit healthcare systems’ retirement plans’ status as “church plans” under ERISA.

The original complaint said a provider was allowed to add any mutual fund it wished, “regardless of whether the funds were duplicative of other options, had high costs,...

The reorganization of the DOL’s Employee Benefits Security Administration may be good news for the retirement plan community.

A group of seven prominent Republican senators are publicly pressing Majority Leader Mitch McConnell to work to get the SECURE Act passed into law this year.

The bill would funnel money to the PBGC from imposed fees on financial companies seeking a DOL exemption in order to manage retirement plan funds.

The IRS invites public comments and suggestions about guidance.

A former 401(k) plan participant is suing the plan sponsor and plan providers after unauthorized distributions were made from her account.

The agency notes that there are no scheduled increases (other than indexing) for years after 2019.

Although, the DOL has issued final rules on association retirement plans, some are disappointed that the rules fell short of allowing for what is called open MEPs.

This is in addition to $454,545 in restitution to the plan, paid by the company and its employee stock ownership plan fiduciaries, for causing the plan to pay...