Searching Content indexed under Retirement, Superannuation & Pensions by Reed Smith ordered by Published Date Descending.
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Appellate Court Upholds City Of San Diego's Pension Reform Measure Against Unfair Labor Practices Charge
In City of San Diego v. Public Employee Relations Board (April 11, 2017), the Fourth District Court of Appeal considered an unfair labor practices challenge brought by unions against the city of San Diego under the state's Meyers-Milias-Brown Act.
United States
21 Apr 2017
Reed Smith To Offer Opinion Letters To Replace IRS Determination Letter
Reed Smith will offer plan sponsors a law firm opinion letter, similar to a determination letter, on the continued qualified status of an individually designed plan document.
United States
16 Mar 2017
Executive Action Regarding Dodd-Frank And The Fiduciary Rule
On February 3, 2017, President Donald Trump ordered a review of the Department of Labor (the "DOL") Conflict of Interest Rule (the "Fiduciary Rule") scheduled to become effective April 10, 2017...
United States
20 Feb 2017
IRS Lays Out Plan For Maintaining Tax Qualification For Individually-Designed Plans After Elimination Of The Determination Letter Cycles
Individually-designed plans will continue to be required to adopt amendments to comply with law changes
United States
3 Aug 2016
Bulletin: AFTRA Retirement Fund Sending Information Request To JPC Members On Significant Drop In Pension Contributions
To address what it perceives as significant underfunding in its pension plan, the AFTRA Retirement Fund is actively sending information requests to Joint Policy Committee signatories whose contributions have declined over a three year period.
United States
9 Dec 2015
IRS Overhauls Determination Letter Process For Individually Designed Plans
Currently, individually designed retirement plans are subject to a five-year determination letter cycle, which is generally based on the last digit of the plan sponsor's Employer Identification Number ("EIN").
United States
31 Jul 2015
IRS Provides Helpful Updates To Retirement Plan Correction Program
The IRS has issued Revenue Procedures 2015-27 and 2015-28, which modify the IRS' retirement plan correction programs known as the Employee Plans Compliance Resolution System issued in Revenue Procedure 2013-12.
United States
16 Jun 2015
Unanimous Supreme Court Decision Paves Way For 401(k) Plan Lawsuits
On May 18, 2015, the U.S. Supreme Court rendered a unanimous decision that may pave the way for more lawsuits against ERISA plans alleging a breach of fiduciary duty regarding plan fees and choice of investment alternatives.
United States
27 May 2015
Silver Tsunami Quickly Approaching Department Of Revenue Thanks To Early Retirement Incentive Program
On May 4, 2015, Governor Charlie Baker signed into law a bill creating an early retirement incentive program for Massachusetts state employees.
United States
19 May 2015
Appellate Court Warning: Pension Funds May Get Stuck With Unintended Oral Contracts With Their Investment Managers
On May 8, 2015, the Second District Court of Appeal in Los Angeles revived a $35 million lawsuit against CalPERS in Centinela Capital Partners LLC v. California Public Employees' Retirement System.
United States
15 May 2015
New Hybrid Pension Plan Guidance
The IRS recently issued new final and proposed regulations that provide welcome guidance to sponsors of hybrid pension plans. Hybrid pension plans, such as cash balance plans and pension equity plans, are defined benefit plans that have some of the characteristics of defined contribution plans.
United States
21 Oct 2014
The DOMA Decision – IRS Guidance On Application To Retirement Plans
There have been many questions regarding the recognition of same-sex spouses for qualified retirement plan purposes.
United States
10 Apr 2014
Arbitrator Finds For SAG-AFTRA In Allocation Dispute: Signatory Ordered To Pay Additional Pension And Health Contributions To The SAG Plans
An arbitrator ordered a signatory to the SAG 2009 Commercials Contract to pay additional pension and health contributions.
United States
1 Apr 2014
IRS Permits Mid-Year Changes to 401(k) Safe Harbor Contributions
On November 14, 2013, the Internal Revenue Service issued final regulations that permit mid-year reductions or suspensions of safe harbor nonelective contributions, and that modify the rules permitting mid-year reductions or suspensions of safe harbor matching contributions, to 401(k) plans (the "Final Regulations").
United States
19 Nov 2013
Dodd-Frank Executive Compensation Rules: SEC Proposes Rules for CEO/Employee Pay Ratio Disclosure
On September 18, 2013, the Securities and Exchange Commission voted 3-2 to propose a new rule implementing section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This rule, requiring a public company to disclose the ratio of the median annual total compensation of all employees to the annual total compensation of the chief executive officer (the "Proposed Rule"), has been highly controversial.
United States
21 Sep 2013
PBGC Issues Proposed Rule On Reportable Events
On April 3, 2013, the Pension Benefit Guaranty Corporation ("PBGC") issued a proposed rule amending its existing reportable events rule.
United States
1 May 2013
IRS Releases Updated Employee Plan Correction Procedures
On December 31, 2012, the Internal Revenue Service (the "IRS") released Revenue Procedure 2013-12, which contains long-awaited updates to the Employee Plans Compliance Resolution System ("EPCRS"), previously set forth in Revenue Procedure 2008-50.
United States
10 Jan 2013
MAP-21 Brings Pension Funding Stabilization And Increased PBGC Premium Rates
Legislation known as Moving Ahead for Progress in the 21st Century Act ("MAP-21") recently became law.
United States
19 Jul 2012
DOL Issues Field Assistance Bulletin on Participant-Level Disclosure Rules
On May 7, 2012, the Department of Labor ("DOL") issued Field Assistance Bulletin 2012 02 (the "FAB"), which consists of 38 FAQs relating to the DOL's final participant-level disclosure regulations under Section 404 of the Employee Retirement Income Security Act ("ERISA").
United States
7 Jun 2012
Court Issues $35M Award Against Plan Fiduciaries For Excessive Fees
A recent decision, Tussey v. ABB, Inc., 2012 WL 1113291 (W.D. Mo. 3/31/2012), has drawn much attention in the retirement plan community.
United States
29 May 2012
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