Compliance

The Internal Revenue Service (IRS) announced cost of living adjustments (COLAs) affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012.

The U.S. Department of Labor (DoL) obtained a default judgment from the federal district court in Minneapolis allowing it to distribute $1.35 million from the defunct Northland...

The 2nd U.S. Circuit Court of Appeals has found that Citigroup fiduciaries did not abuse their discretion in continuing to offer company stock as an investment in its...

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase 3.6% in 2012, the Social Security Administration announced.

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a list of frequently asked questions regarding Multiemployer Plans.

The Treasury Department and the IRS intend to postpone the effective/applicability date regarding special rules for statutory hybrid plans, relating to interest crediting rates under a cash balance...

The U.S. Department of Labor (DoL) has filed a complaint in federal court seeking to restore $436,322.07 to two benefit plans of Columbus-based Clark Graphics.

The law office of Brodsky & Smith, LLC announced that it is investigating Bank of New York Mellon’s investment of retirement plan participants’ and beneficiaries’ assets in company...

A pair of Georgia legislators have introduced a bill that would open up 401(k) accounts to help make mortgage payments. 

The U.S. Department of Labor has sued an Alabama medical office and the physician who owns it for using profit sharing plan assets to fund the business.

A New York district court has ruled that Lehman Brothers did not violate its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by continuing to offer...

Having drawn the scrutiny of regulators, Bank of New York Mellon now finds itself the target of another investigation.

The Internal Revenue Service released Revenue Procedure 2011-49, on new requirements for sponsors of pre-approved plans seeking opinion and advisory letters that...

The U.S. Department of Labor has filed a complaint in federal court against A.B.D. Tank & Pump Co. and Keith Davis, its president and owner, to restore more...

ASPPA is urging the Department of Labor to modify its Voluntary Fiduciary Correction Program, as it applies to late deposits of elective deferrals under ERISA.

Members of Ameriprise Financial Inc.’s 401(k) plan filed a proposed class action on Wednesday claiming they lost $20 million in investments, according to published reports.

A federal appellate court has determined that employer Houston Poly Bag I, Ltd., failed to act in a participant’s best interest by withholding profit sharing plan documents and...

A federal court has dismissed claims that trustees and directors of Orion Bancorp’s Employee Stock Ownership Plan (ESOP) breached their fiduciary duties under the ERISA by continuing to...

A federal court has dismissed all charges against Bank of America for allegedly breaching its Employee Retirement Income Security Act (ERISA) fiduciary duties by using proprietary funds in...

Another plan sponsor has prevailed in a revenue-sharing case – and at the appellate court level.