Even With No CBA, Withdrawing Employer May Have to Pay Multiemployer Plan
A multiemployer plan was found to have brought a viable claim for a withdrawal contribution required in its trust documents.
Compliance
Additional Preventive Care Benefits Permitted for HDHPs
The IRS has issued guidance allowing high-deductible health plans (HDHPs) with health savings accounts (HSAs) to cover specified medications and services used to treat chronic diseases prior to...
Employees in Two States Miss Out on One HSA Benefit
Is this impacting health savings account (HSA) participation?
GWU Lawsuit Over Two Retirement Plans Dismissed
A federal court judge ultimately found that a participant in George Washington University’s two retirement plans had previously waived her right to sue for fiduciary breaches under the...
Adidas Sued Over Excessive Fees for 401(k) Participants
Plaintiffs in the lawsuit argue that passive funds would have resulted in better returns net of fees that the actively managed funds offered in the plan.
DOL Secretary Announces Resignation
The editor-in-chief of the Washington Free Beacon says Democrats may end up regretting their calls for Acosta's resignation since his replacement could be more proactive in pushing the...
Analyst Sees ‘Moral Hazards’ in GASB Pension Accounting Standards
In addition to promoting inaccurate pension heath assessments, a new academic paper argues, pension accounting rules set by the Governmental Accounting Standards Board create “a degree of moral...
PBGC Updates ERISA Title IV Determination Instructions
The Pension Benefit Guaranty Corporation has published a new form and instructions with the goal of streamlining and simplifying the ERISA Title IV coverage determination process.
House Committee Advances Bill to Establish Union Pension Lifeline Program
The legislation aims to establish a 30-year loan program and new financial assistance for financially troubled multiemployer pension plans.
Open MEPs Not for Every Plan Sponsor
If legislation passes to allow for open multiple employer plans (MEPs) for plan sponsors without a common nexus, experts believe they will offer benefits to plan sponsors, but...
Vendor Process Reviews Are Crucial to Retirement Plan Cybersecurity
A digital security expert says "the behavioral and human element of data protection is always the most challenging part.”
Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
In a new ERISA lawsuit seeking class action status, the plaintiffs claim their pension assets were disloyally and imprudently transferred during a complex series of corporate spinoffs and...
The Senate Math That Could Block SECURE Act
Senate floor time is at a premium ahead of the 2020 presidential election—so much so that even legislation that passed the House with a near-unanimous bipartisan vote is...
Fidelity Argues Infrastructure Fees Are Necessary
In support of its motion to dismiss a consolidated lawsuit, Fidelity argues that it is entitled to negotiate and collect fees from providers on its FundsNetwork, and that...
Self-Correcting the Inevitable Mistakes
Even the most informed and dedicated retirement plan fiduciaries sometimes miss the target. The good news is, many mistakes can be fixed.
IRS Proposes Change to ‘One-Bad-Apple’ Rule for MEPs
Proposed regulations would provide an exception, if certain requirements are met, to a multiple employer plan (MEP) being disqualified due to the actions of one plan sponsor member.
Attorney Believes Supreme Court Will Side With Plaintiffs in DB Plan Case
"How does it make sense to say that if you are a dollar over-funded, there is no risk of harm to the participants, but if you are a...
The Shifting Mechanics of Hardship Withdrawals
In a new Snapshot publication, the IRS offers a detailed review of the shifting regulatory provisions applying to pre-retirement hardship distributions from DC plans, noting how these are...
GASB Proposes Financial Reporting Changes for Government 457 Plans
An Exposure Draft proposes that if a Section 457 plan meets the definition of a pension plan in Government Accounting Standards Board (GASB) guidance, the appropriate GASB pension...
50-Year Old Mortality Data Questioned in Latest ERISA Lawsuit
The mortality table in question, published in 1971, assumes 90% of Huntington Ingalls Industries’ employees are male and that 90% of contingent beneficiary annuitants are female, while utilizing...