March 23, 2017

IRI Releases 2017 Policy Agenda

The Insured Retirement Institute says it will call on Congress and the Trump Administration to support greater access to workplace retirement plans and simplified lifetime-income products.

March 22, 2017

Cash Balance Challenge Defeated By Bank of America

Plaintiffs originally filed their cash balance plan lawsuit in 2004, claiming the way their employer created a cash balance plan by essentially transforming an existing 401(k) represented impermissible benefit cutbacks.

March 20, 2017

Surge in Wrong VCP User Fees Prompts IRS Reminders

Mentioned in the list of reminders includes suggestions about how to avoid incorrect voluntary compliance program user fees; determining the right user fee; and qualifications for reduced fees.

March 17, 2017

Court Finds Price for ESOP Purchase Overvalued

The court found trustee Wilmington Trust “rushed its evaluation of the ESOP, failed to follow its own policies, and failed to adequately vet [other valuators’] conclusions.”

March 15, 2017

Controlled Group Case Sent Back for Calculation of Damages

An appellate court agreed employees of a company sold from Anheuser-Busch’s controlled group of companies were entitled to enhanced benefits, but disagreed with a lower court that calculation of damages was not necessary.

March 13, 2017

PBGC and Sears Reach Funding Security Agreement

PBGC explains the additional funding and security for the company's defined benefit pension plans is being provided in connection with the sale of Sears' Craftsman brand to Stanley Black & Decker.