Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. Cases that were recently settled, decided, or for which courts issued procedural rulings, are outlined below. Please note, however, that this list is not exhaustive. Velazquez v. Massachusetts Financial Services Company (settlement agreement submitted on June 14, 2019 […]
Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. Cases that were recently filed or decided, or for which courts issued procedural rulings, are outlined below. Please note, however, that this list is not exhaustive. Torres v. Greystar Management Services, L.P. (filed on May 13, 2019 in […]
On May 22, the IRS and DOL published their respective regulatory agendas for spring of 2019. Pending IRS guidance related to employee benefit plans includes the following areas (although inquisitive folks may wish to review other areas included on the IRS’s list for pure entertainment value, such as the “Proposal to Allow for the Use […]
Since 1991, the IRS has had formal correction programs in place for various retirement plan compliance issues. Current programs under that Employee Plans Compliance Resolution System (“EPCRS”) consist of the following: Self-Correction Program (“SCP”): This program can be used to correct a wide array of compliance issues, without having to apply to the IRS for […]
Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. Cases that were recently settled, or for which courts issued procedural rulings, are outlined below. Please note, however, that this list is not exhaustive. Cassell v. Vanderbilt University (settlement agreement submitted to the U.S. District Court for the […]
IAnyone who is remotely familiar with employee benefits is aware of the fact that changes frequently occur to governing laws, regulations, and other guidance. One challenge for employers in this area is keeping their plan documents current, so they include all applicable changes’ provisions. Thus, retirement plan sponsors must carefully monitor changes that necessitate plan […]
Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. Cases that were recently filed, decided, settled, or for which courts issued procedural rulings are outlined below. Please note, however, that this list is not exhaustive. Tracey v. Massachusetts Institute of Technology (procedural ruling issued on February 28, 2019 […]
Given the continuing wave of ERISA litigation, this article has become a mainstay of The Speed Reader. Cases that were recently filed or decided are outlined below. Please note, however, that this list is not exhaustive. Kirkendall v. Halliburton, Inc. (decided on January 24, 2019 by the U.S. Court of Appeals for the Second […]
The DOL recently released a Fact Sheet detailing monetary recoveries that its Employee Benefits Security Administration (“EBSA”) obtained for its 2018 fiscal year, which ended on September 30, 2018. These recoveries all dealt with employee benefit plans covered by ERISA. The total of approximately $1.6 billion consisted of recoveries from enforcement actions (e.g., plan […]
The U.S. Department of Labor (the “DOL”) recently published Advisory Opinion 2018-01A (the “Opinion”), which deals with an interesting approach for handling retirement plan participants’ small accounts that have been distributed from a retirement plan and automatically rolled over into an IRA. As background, many retirement plans provide that if a terminated participant’s vested account […]