Sponsor Settles with DOL After Bankruptcy
A plan sponsor in Chicago was accused of improperly diverting hundreds of thousands of dollars in retirement plan assets.
Tag: EBSA
Fiduciaries Failed to Follow Plan Document for ESOP Termination
A federal court has ordered the fiduciaries to restore losses to plan participants.
More Relief for Plan Sponsors Affected by Hurricane Matthew
The Department of Labor has added to the compliance relief already provided by the Internal Revenue Service for retirement plan...
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ERISApedia.com Now Includes DOL Rule Information
“It is critically important for advisers and sponsors who are affected by the new rule to have a comprehensive, practical,...
ESOP Fiduciaries Sued for Inflated Price of Stock Purchase
The overpayment caused a direct loss to the plan and constituted a prohibited transaction under the Employee Retirement Income Security...
Lawsuit Dropped After Contractor Pays 401(k) Plan Contributions
B.C. Inc. restored nearly $150,000 to its 401(k) plan.
DOL Sues Company to Restore Contributions
The electrical equipment company failed to remit employee contributions and loan repayments to the plan as well as to make...
Nursing Home Sued for Diverting Retirement Plan Assets
The nursing home and its chief officer are accused of diverting at least $4 million to themselves and a religious...
DOL Offers More Compliance Relief for Plans in Louisiana
Due to recent storms and flooding in Louisiana, the DOL has relaxed rules for contributions and loan repayments, blackout notices...
Debt Owed to 401(k) Plan Not Dischargeable in Bankruptcy
A court said since the amount owed to the 401(k) plan was due to the fiduciary not performing his duties...
Fiduciaries Ordered to Restore More Than $200K to 401(k) Plan
A now-defunct medical research company failed to remit employer and employee contributions to the plan between 2010 and 2013.
$2 Million Retirement Plan Never Properly Terminated
A federal court has removed the plan’s fiduciary and replaced him with an independent fiduciary.
Form 5500 Annual Report Modernization Proposed
Regulators including the DOL, PBGC and IRS are seeking to update the reporting requirements related to the Form 5500 filed...
DOL Adjusts ERISA Civil Monetary Penalties
The Federal Civil Monetary Penalties Inflation Adjustment Act Improvements Act of 2015 requires agencies to adjust civil monetary penalties annually...
Another Firm Targeted by DOL Over Inaccurate ESOP Valuations
An Ohio-based transportation and logistics company is accused of overpricing its company stock by nearly $6 million.
Sponsor Facing Sizable Settlement for Poor ESOP Valuations
Count employer stock purchases within ESOPs among the activities receiving significant scrutiny from participants, regulators and litigators.
DOL Says Government Contractor Failed to Make 401(k) Contributions
The agency is seeking nearly $250,000 for 401(k) plan participants.
What to Anticipate from Washington for Retirement Plans
While retirement industry regulators have been busy, not much has come out of Congress affecting retirement plans, but that may...
DOL Sues Law Firm Over Prohibited Retirement Plan Loans
The suit seeks a court order requiring The Leiter Group Attorneys and Counselors Professional Corp. and the firm's president to...
DOL Obtains Government Contract Retirement Plan Contributions
James Brunk and Brunk Industries Inc. will restore $95,000 to the company’s 401(k) plan.