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Results: 1-10 of 101

MEWA held to be not fully insured under ERISA
  • Hodgson Russ LLP
  • USA
  • April 15 2011

When unrelated employers join together in an association or other group to purchase or arrange for health insurance, the association is defined as a "multiple employer welfare arrangement" or "MEWA" under the law


IRS issues 401(k) plan compliance questionnaire
  • Hodgson Russ LLP
  • USA
  • July 30 2010

In May, the IRS issued a 401(k) compliance check questionnaire to a sample set of 1,200 plan sponsors


Court upholds ESOP’s use of year-old valuation to process distributions
  • Hodgson Russ LLP
  • USA
  • January 4 2011

A federal trial court in New York recently ruled that the sponsor of an employee stock ownership plan (ESOP) did not breach its ERISA fiduciary duties when it used a June 30, 2008 valuation of the company stock to process a distribution in June 2009 to participants whose account values were under $1,000


Teachers’ efforts to bring 403(b) plan lawsuits fall short
  • Hodgson Russ LLP
  • USA
  • February 11 2011

In two different cases from two different regions of the country, teachers brought lawsuits to challenge alleged endorsement and kickback arrangements involving IRC 403(b) plans on the basis of fiduciary breaches


DOL expands prohibited transaction exemption for litigation
  • Hodgson Russ LLP
  • USA
  • August 31 2010

The DOL has expanded an earlier prohibited transaction class exemption related to the settlement of claims by a plan against an individual or entity that is a party in interest with respect to the plan


Divorce settlement does not trump beneficiary designation
  • Hodgson Russ LLP
  • USA
  • 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


SPD error does not result in additional benefits for retired employees
  • Hodgson Russ LLP
  • USA
  • 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


401(k) fees held reasonable in Illinois lawsuit
  • Hodgson Russ LLP
  • USA
  • 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


Oral agreement not sufficient to modify plan contribution obligation
  • Hodgson Russ LLP
  • USA
  • May 20 2011

It is important for employers to recognize that an oral agreement to modify a plan obligation, even when it is acknowledged by both the parties, may not be enforceable when current plan provisions contradict the oral agreement


“Good faith” clause does not limit discretionary authority of administrator
  • Hodgson Russ LLP
  • USA
  • May 20 2011

A district court in North Carolina recently reaffirmed the principle that decisions made by a plan administrator are entitled to deferential review if the plan grants dictionary authority to the administrator