Compliance Archives | Page 55 of 521

Compliance | August 8th, 2019

Court Issues Mixed Ruling in Case Over ESOP Stock Purchase

The court decision highlights the difficulty in determining the fiduciary status of parties and of making claims for equitable relief based on allegations that ESOP stock purchases were...

Compliance | August 7th, 2019

Court Moves Forward Suit Over Plans’ Use of Retail Funds

The court decision in Lutz v. Kaleida Health reviews what it takes to be a retirement plan fiduciary and acknowledges that plaintiffs in ERISA litigation do not have...

Compliance | August 7th, 2019

Lawmakers Demand Help for Union Pensions

The former Republican Speaker of the House has teamed up with former Representative Joe Crowley to advocate for a solution to the union multiemployer pension funding crisis.

Compliance | August 6th, 2019

Settlement in Johns Hopkins 403(b) Plan Lawsuit Includes Recordkeeper Bid

The $14 million settlement agreement also requires the University to retain an independent consultant to assist plan fiduciaries in reviewing the plan’s existing investment structure.

Compliance | August 6th, 2019

PBGC Multiemployer Program Continues Move Toward Insolvency

PBGC Director Gordon Hartogensis says if Congress fails to act soon then after year 2025, any future revenue to the program would be sourced from premiums.

Compliance | August 5th, 2019

Pension Plan Sponsor Dupes Employees Out of ‘TPA Fee’

A business owner who sponsored pension plans for his employees pleaded guilty of charges that he deducted a “third-party administrator fee” from employees’ pay, but used the money...

Compliance | August 5th, 2019

State Laws Prevent Single Provider for Some K-12 403(b)s

Yet another law requiring multiple providers for K-12 403(b) plans is reigniting the debate over whether more choice is good or bad for participants.

Compliance | August 2nd, 2019

Final ARP Rule Opens Door for More Employers to Offer Retirement Plans

Industry sources discuss the positives from the final association retirement plan (ARP) rule, but the industry will still have to wait for progress on offering plans for employers...

Compliance | August 1st, 2019

DOL Exemption Paves Way for Auto Portability

Now that participants’ small balances may be automatically transferred to their new 401(k) account, Retirement Clearinghouse expects to see a lot of business.

Compliance | August 1st, 2019

Retirement Plan Excessive Fee Cases Continue to Move Down-Market

TriHealth Inc. has been accused of carrying high fees in its 401(k) plan, benchmarked against peer plans with an asset range of $250 million to $500 million.

Compliance | August 1st, 2019

The Retirement Industry Needs a Top Cop’s Guidance

All of the President’s cabinet secretaries have substantial authority to promulgate, interpret and enforce regulations. The DOL Secretary, in particular, can have a big influence on employer decisions...

Compliance | July 31st, 2019

SEI Investments Agrees to Settle ERISA Self-Dealing Suit

In addition to a $6.8 million payment, defendants in the lawsuit agreed to certain procedures for plan management, including that the plan committee will be trained on Employee...

Compliance | July 30th, 2019

DOL Offers Relief to MEPs That Did Not File Correct Form 5500s

The Department of Labor (DOL) found more than 100 multiple employer plans (MEPs) in violation of a requirement to include on the Form 5500 a list of participating...

Compliance | July 30th, 2019

Court Decides Medical Center Plan is a Church Plan Under ERISA

Citing the Supreme Court decision regarding church plan cases and using a three-part test, a federal judge found the St. Elizabeth Medical Center Employees’ Pension Plan falls under...

Compliance | July 29th, 2019

DOL Releases Final Rule on ‘Association Retirement Plans’

The rule will permit employers to connect with associations of employers in a city, county, state, or a multi-state metropolitan area, or in a particular industry nationwide, as...

Compliance | July 26th, 2019

A Court and the DOL Weigh In on Cross-Plan Offsetting for Health Benefits

An appellate court decision and an amicus brief filed in the case by the Department of Labor (DOL) emphasize plan sponsors’ duty to monitor what health plan providers...

Compliance | July 26th, 2019

Mercer Talks Legislative and Regulatory Changes

Sources say Congress may try to tack the SECURE Act onto other moving legislation this fall, and they recount the many changes in health care regulations driven by...

Compliance | July 24th, 2019

Maryland State Pension Now Required to Report Carried Interest on Assets

The new bill, combined with existing state law, means the State Retirement and Pension System must now report all fees paid to outside investment managers.

Compliance | July 23rd, 2019

Lawsuit Says Money Market Fund Was Like ‘Stuffing Cash Into a Mattress’

BBVA Compass Bancshares is accused of failing to monitor investments and remove imprudent ones.

Compliance | July 22nd, 2019

SECURE Act Passage May Hinge on Budget, Debt Ceiling Negotiations

The House is scheduled to leave Washington on Friday and the Senate is expected to start its recess a week later, after which federal budget and debt ceiling...