Searching Content indexed under Retirement, Superannuation & Pensions by McGuireWoods LLP ordered by Published Date Descending.
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IRS Moving Forward With Changes To Determination Letter Program
As we reported last year, the IRS determination letter program for tax-qualified retirement plans is about to significantly change.
United States
13 Jan 2016
2016 Benefit Plan Limits And Thresholds: Few Changes From 2015
The Internal Revenue Service (IRS) has announced various 2016 benefit plan limits and thresholds. In most cases, there are no changes from 2015.
United States
29 Oct 2015
CFPB Targets Pension Lenders In Dodd-Frank Suit
The complaint alleges that the defendants, in violation of the Dodd-Frank Act, deceived consumers, and notably veterans, concerning the costs and risks associated with the pension advances.
United States
20 Oct 2015
Central States Pension Fund Submits Plan For Reducing Benefits
On Sept. 25, 2015, the Central States, Southeast and Southwest Areas Pension Plan (Central States), submitted to the Department of the Treasury a plan for reducing benefits under the Multiemployer Pension Reform Act of 2014 (MPRA).
United States
14 Oct 2015
Pension Benefit Guaranty Corporation Issues Final Regulations On Reportable Events
Earlier this month, the Pension Benefit Guaranty Corporation (PBGC) issued final regulations on reportable events under ERISA in connection with defined benefit pension plans and their sponsors .
United States
2 Oct 2015
IRS Issues Guidance On Participant Voting Requirement For Benefit Suspensions Under MPRA
Earlier this week, the Internal Revenue Service issued proposed and temporary regulations (collectively, the Guidance) under the Multiemployer Pension Reform Act of 2014.
United States
8 Sep 2015
Ninth Circuit: Multiemployer Plan Calling Unpaid Contributions "Plan Assets" Does Not Make Persons Controlling Contribution Payments ERISA Fiduciaries
The Ninth Circuit recently held that a multiemployer pension plan cannot label unpaid contributions as "plan assets" so as to impose ERISA fiduciary status on persons controlling the payment of employer contributions to the plan.
United States
14 Aug 2015
IRS To Significantly Trim Determination Letter Program
Published July 28, this Law360 article by Maria Rasmussen and Allison Tanner discusses new changes in the IRS's determination letter program for tax-qualified retirement plans.
United States
30 Jul 2015
IRS Determination Letter Program For Qualified Retirement Plans To Be Significantly Curtailed
The DL program allows an employer that sponsors an individually designed tax-qualified retirement plan to apply to the IRS for written confirmation that the plan meets certain requirements of the Internal Revenue Code in form.
United States
27 Jul 2015
The Ax Falls On Defined Benefit Plan Lump Sum Cash-Out Programs
On July 9, 2015, the Treasury Department and IRS announced plans to implement a significant regulatory change that will effectively prohibit "lump sum risk-transferring programs" for defined benefit pension plans.
United States
14 Jul 2015
Supreme Court Says Constitution Requires States To License Same-Sex Marriages
Justice Kennedy begins the majority opinion − joined by Justices Breyer, Kagan, Sotomayor and Ginsburg − by discussing the history of marriage and changes in various aspects of the structure of marriage that have "evolved over time."
United States
3 Jul 2015
IRS, PBGC Issue Guidance On Multiemployer Plan Benefit Suspensions And Plan Partitions
Yesterday the Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) issued temporary, proposed and interim final regulations and a revenue procedure...
United States
23 Jun 2015
Supreme Court: ERISA Imposes Continuing Fiduciary Duty To Monitor Plan Investment Options
Section 409 of ERISA imposes personal liability on a plan fiduciary to make good to the plan any losses resulting from the fiduciary's breach of any duties imposed by Title I of that statute.
United States
20 May 2015
The DOLís New Proposal On ERISA Fiduciary Status For Investment Advisers
Last week, the U.S. Department of Labor (DOL) issued its widely anticipated re-proposed rules for defining fiduciary status under the Employee Retirement Income Security Act of 1974 for providers of investment advice for a fee.
United States
27 Apr 2015
IRS Provides New Flexibility To Correct Retirement Plan Errors
The IRS recently issued important updates to its Employee Plans Compliance Resolution System (EPCRS).
United States
20 Apr 2015
Congressional Report Takes Aim At Nonqualified Deferred Compensation
A recent report from ranking member Sen. Ron Wyden and the Democratic staff on the Senate Finance Committee indicates that nonqualified deferred compensation plans continue to be in the crosshairs...
United States
1 Apr 2015
DOL Clarifies Timing Requirement For Annual Investment-Related Disclosures
Yesterday the DOL announced that it is revising the "at least annually thereafter" requirement to mean "at least once in any 14-month period."
United States
30 Mar 2015
Tibble Supreme Court Argument: Fiduciaries Must Monitor Investments
The justices did not seem inclined to spell out what was required in the duty to monitor, other than the normal fiduciary standard of prudence under the circumstances.
United States
4 Mar 2015
Supreme Court Rejects Yard-Man: Ordinary Contract Principles Apply When Interpreting Retiree Medical Promises
The Supreme Court has unanimously vacated a Sixth Circuit ruling that a collective bargaining agreement (CBA) vested retirees with lifetime medical benefits.
United States
4 Feb 2015
Deferred Compensation Alert: Court Holds Employer Responsible Under ERISA For FICA Withholding Errors
Section 3121(v) of the Internal Revenue Code (Code) imposes a "special timing rule" for when FICA tax must be paid on nonqualified deferred compensation plan benefits.
United States
2 Feb 2015
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