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Stock drop case of the month

Hodgson Russ LLP
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USA
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July 30 2010

A federal trial court recently ruled that an employerplan sponsor did not breach its fiduciary duties by continuing to offer company stock in its 401(k) plan even as the share price dropped

Unpaid employer contributions are plan assets

Hodgson Russ LLP
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USA
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July 30 2010

In the face of financial difficulties, numerous challenges confront a business owner

Pension plan may be obligated to pay incorrectly calculated monthly benefits

Hodgson Russ LLP
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USA
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July 30 2010

Courts have been reluctant to require pension plans to pay out incorrectly calculated benefits that are communicated to participants but do not properly follow the terms of the plan

Reduced lump sum doesn’t violate anti-cutback rule

Hodgson Russ LLP
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USA
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May 28 2010

A small law firm maintained a defined-benefit, cash-balance pension plan

ESOP permitted to end company stock investment at separation

Hodgson Russ LLP
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USA
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May 28 2010

An employee stock ownership plan (ESOP) was operated and ultimately amended to eliminate company stock from a participant's account once the participant separated from service with the company

Divorce settlement does not trump beneficiary designation

Hodgson Russ LLP
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USA
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March 25 2010

A decedent’s ex-wife, named as beneficiary under her decedent ex-husband’s 401(k) plan, was entitled to his plan benefits, the U.S. District Court for the District of Massachusetts ruled

401(k) fees held reasonable in Illinois lawsuit

Hodgson Russ LLP
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USA
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March 25 2010

A number of lawsuits have been filed alleging that fees paid by 401(k) plans to recordkeepers, trustees, or other service roviders are excessive and imprudent

SPD error does not result in additional benefits for retired employees

Hodgson Russ LLP
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USA
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March 25 2010

The U.S. District Court for the Central District of California held that former employees who received an inaccurate summary plan description (SPD) were not entitled to increased retirement benefits as a result of the error

Post-normal retirement date benefit accruals

Hodgson Russ LLP
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USA
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October 29 2010

Defined benefit plan administrators can find the rules dealing with benefit accruals and actuarial adjustment after normal retirement date are complex and confusing