2nd Circuit Again Remands Decade-Old PwC ERISA Litigation
The appellate court disagreed with a lower court finding that reformation of PwC's cash balance plan and the recalculation of...
Tag: cash balance plans
Court Ends Dispute of Proper Remedy in Amara v. Cigna
A federal district court has refused to reconsider its ruling that Cigna is carrying out its orders correctly in the...
Could New DB Plan Designs Solve for Retirement Savings Inadequacy and Inequality?
Recent studies find 401(k)s have increased retirement savings gaps among demographic groups, and those in 401(k)s have not met their...
CIGNA Faces New Allegations in Long-Standing ‘Plan Reformation’ Suit
Plaintiffs in the case allege that CIGNA is not following new calculations ordered by a federal court to remedy its...
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Steidle Announces 2019 Pricing for Cash Balance and DB Plan Administration
Steidle Pension Solutions’ comprehensive services include testing, calculations, plan valuation, document services, actuary certification, Form 5500 preparation, and more.
Cash Balance Plans Need Different Administration Systems Than Traditional DB Plans
The characteristics of cash balance plans that are similar to defined contribution plans create a need for different technology than...
Lawsuit Argues MetLife Pension Calculations Use Outdated Mortality Table
A newly filed complaint takes issue with the way MetLife calculates the actuarial equivalence of different types of annuity benefit...
Cash Balance Plans Particularly Appealing to Small Businesses
Kravitz research found that 92% of cash balance plans are in firms with fewer than 100 employees.
Considerations for Changing the Interest Crediting Rate in a Cash Balance Plan
In an issue snapshot, the Internal Revenue Service (IRS) discusses when a cash balance plan amendment reduces (or potentially reduces)...
Interest Crediting Rate Used Key to Cash Balance Plan Outcomes
“Plan sponsors that have adopted or moved to market return design structures have reduced or eliminated market and cost volatility...
Appellate Court Rejects Bank of America Participants’ Claim for More Relief
Noting that the bank already made restitution to the participants under an IRS closing agreement, the 4th Circuit agreed with...