Fiduciaries Ordered to Restore Withheld 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Tag: EBSA
Nearly $1M Left in Abandoned 401(k)
The DOL says a defunct company started plan termination procedures, but failed to complete the termination before ceasing operations.
Whistleblowers Remedied Following ERISA Challenge
The DOL says officials at Cement Masons Southern California Trust Funds illegally retaliated against a whistleblower who flagged ERISA violations.
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Fiduciary Rule Hearings Kick Off in Washington
There is perhaps no better venue than a marathon Labor Department hearing to show what practices and beliefs most divide...
SEC Faces Its Own Debate on Fiduciary Advice Standards
Transcripts from a tough SEC hearing called earlier this month show it's not just the Department of Labor considering changes...
DOL Sues for 401(k) Fringe Benefit Contributions
The agency says $108,000 in fringe benefit contributions were not forwarded to the Brunk Industries Contractors and Employees 401(k) Plan.
PBI Bank Settles with DOL over ESOP Transaction
PBI Bank will no longer serve as a trustee or service provider for any plan covered by ERISA, with a...
DOL Gets Final Judgment in Misuse of Pension Funds Cases
The latest court order culminates six years of investigations and three years of legal battle.
DOL Seeks Independent Fiduciary for Abandoned Plan
The plan’s recordkeeper refused to make distributions after the former plan fiduciary changed each participant’s address to his own.
DOL Sues Bank for Excessive Retirement Plan Fees
A lawsuit says City National Profit Sharing Plan fiduciaries engaged in self-dealing and conflicted transactions.
Fiduciaries to Pay $485K for Failing to Forward Payroll Deductions
The DOL sued retirement plan fiduciaries in Connecticut for failing to forward contributions and loan repayments withheld from participants’ paychecks...
DOL Adds Flexibility to Investment Disclosure Requirements
The DOL says a new direct final rule provides a grace period for plan sponsors to furnish plan-related information to...
DOL Alleges Company’s ESOP Creation Was Flawed
Accurate company valuations are critical when it comes to establishing an ESOP, the DOL says in an enforcement action announcement.
DOL Series Takes on Fiduciary Challenges for Small Sponsors
A webcast series from the DOL aims to help increase awareness and understanding about basic fiduciary responsibilities for plan sponsors...
EBSA Issues Final Regs on Annual DB Funding Notices
The Department of Labor’s Employee Benefits Security Administration says a new disclosure rule will ensure workers receive annual funded status...
Senator Hatch Outlines Plans for Retirement Reform
Senate Finance Committee Chairman Orrin Hatch (R-Utah) has formally outlined his hopes and expectations for federal tax reform, including changes...
ERIC Names New Chief Executive
Annette Guarisco Fildes has been appointed CEO of the ERISA Industry Committee.
DOL Explains Drop in 2014 Collections Number
The DOL’s Employee Benefits Security Administration says a substantial year-over-year drop in the agency’s reported collection totals for 2014 is...
2014 EBSA Collection Totals Questioned
The dollar amount secured by the DOL’s Employee Benefit Security Administration dropped substantially in 2014 compared with the previous year,...