Debt Owed to 401(k) Plan Not Dischargeable in Bankruptcy
A court said since the amount owed to the 401(k) plan was due to the fiduciary not performing his duties...
Tag: EBSA
Fiduciaries Ordered to Restore More Than $200K to 401(k) Plan
A now-defunct medical research company failed to remit employer and employee contributions to the plan between 2010 and 2013.
$2 Million Retirement Plan Never Properly Terminated
A federal court has removed the plan’s fiduciary and replaced him with an independent fiduciary.
Form 5500 Annual Report Modernization Proposed
Regulators including the DOL, PBGC and IRS are seeking to update the reporting requirements related to the Form 5500 filed...
DOL Adjusts ERISA Civil Monetary Penalties
The Federal Civil Monetary Penalties Inflation Adjustment Act Improvements Act of 2015 requires agencies to adjust civil monetary penalties annually...
Another Firm Targeted by DOL Over Inaccurate ESOP Valuations
An Ohio-based transportation and logistics company is accused of overpricing its company stock by nearly $6 million.
Sponsor Facing Sizable Settlement for Poor ESOP Valuations
Count employer stock purchases within ESOPs among the activities receiving significant scrutiny from participants, regulators and litigators.
DOL Says Government Contractor Failed to Make 401(k) Contributions
The agency is seeking nearly $250,000 for 401(k) plan participants.
What to Anticipate from Washington for Retirement Plans
While retirement industry regulators have been busy, not much has come out of Congress affecting retirement plans, but that may...
DOL Sues Law Firm Over Prohibited Retirement Plan Loans
The suit seeks a court order requiring The Leiter Group Attorneys and Counselors Professional Corp. and the firm's president to...
DOL Obtains Government Contract Retirement Plan Contributions
James Brunk and Brunk Industries Inc. will restore $95,000 to the company’s 401(k) plan.
Judge Says City National Was Self-Dealing in 401(k)
While it is not illegal to administer retirement plans in-house, a lawsuit filed by the Labor Department in 2015 alleged...
DOL Files Complaint Over Firm’s Failure to Close Profit Sharing Plan
An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found Interactive Marketing Group failed to formally...
Court Restricts ESOP Attorney’s Ability to Represent Plans
The attorney’s alleged contempt arose from a lawsuit against Herbert Bruister and others for various breaches of fiduciary duties that...
Gruber Systems Ordered to Pay for Improper ESOP Purchase
The DOL won a consent judgment and order valued at $1.1 million on behalf of participants in a Gruber Systems...
Defunct Company Retirement Plan Owes Nearly $1M to Participants
The company ceased all business operations in 2009, but failed to take the appropriate steps to terminate the plan.
Plan Sponsors Face Risks in Fiduciary Rule Change
It’s not just financial advisers and investment providers that should be prepping for the final fiduciary rule to emerge from...
DB Plans Should Start Reviewing Payment Practices
The DOL has begun investigations, attorneys tell PLANSPONSOR.
DOL Sues Sponsor Over Company Stock Valuation
The DOL is asking a Florida district court to take action against an employer accused of inflating its fair market...
House Passes Bill Opposing Fiduciary Rule
The Retail Investor Protection Act is likely to be vetoed by the White House.