Compliance

January 17, 2017

IRS Proposes Changes to QMAC, QNEC Definitions

Under the proposal, employer contributions to a plan would be able to qualify as QMACs or QNECs if they satisfy applicable nonforfeitability and distribution requirements at the time they are allocated to participants’ accounts not when they are contributed to the plan.

January 10, 2017

J.C. Penney to Settle Stock Drop Suit

The company has agreed to pay $4.5 million to resolve a lawsuit alleging it failed to drop the company stock fund from its retirement plan after it was no longer a prudent investment.

January 09, 2017

Fiduciary Rule Could Soon Be Delayed By Congress

According to its author, the legislation will “delay the implementation of a job-destroying rule … giving Congress and President-elect Donald Trump adequate time to re-evaluate this harmful regulation.”

January 04, 2017

Retirees’ Claim for Lifetime Health Benefits Denied

Using a relevant Supreme Court decision, a federal district court judge found there was no genuine issue of material fact showing agreements with unions promised inalterable lifetime health benefits.

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