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12 results found

Article

Morgan Lewis | USA | 29 Apr 2011

U.S. District Court finds no fiduciary breach for change in qualified default investment alternative

The U.S. District Court in the Western District of Kentucky recently ruled in favor of plan fiduciaries that adopted a qualified default investment alternative (QDIA) for an employer’s tax-qualified retirement plans.

Article

Hodgson Russ LLP | USA | 8 Mar 2011

Department of Labor position followed in “stock drop” case and plan fiduciaries exonerated

The US Court of Appeals for the Seventh Circuit upheld a district court decision in a case reported in our August 2009 Employee Benefits Developments.

Article

Pillsbury | USA | 1 Nov 2010

Labor Department issues final regulations on fee disclosures for participant-directed plans

On October 14, 2010, the U.S. Department of Labor released final regulations detailing a plan administrator’s fiduciary responsibilities regarding disclosure of plan and investment-related information, including fee and expense information, to participants and beneficiaries of participant-directed individual account plans such as 401(k) plans.

Article

Proskauer Rose LLP | USA | 7 Jun 2010

District court ruling in stock-drop litigation potentially breathes new life into Section 404(c) safe harbor defense

In their continued efforts to combat the rising tide of employer stock-drop lawsuits, plan fiduciaries have frequently relied on a defense based on ERISA 404(c), 29 U.S.C. 1104(c).

Article

Jorden Burt LLP | USA | 4 Mar 2010

Supreme Court denies certiorari in 401(k) fee suit

On January 19, 2010, the US Supreme Court denied plaintiffs' petition for a writ of certiorari in the Hecker v. Deere & Co. 401(k) fee case.

Article

Stinson LLP | USA | 8 Feb 2010

Labor department approves new safe harbor for depositing employee contributions

Under current labor regulations last amended in 1996, sponsors of qualified retirement and health and welfare plans are required to transfer employee contributions withheld from wages as soon as those amounts can be reasonably segregated from the employer’s general assets, but not later than the 15th business day of the month following the end of the month in which the amounts would otherwise have been paid in cash.

Article

Jenner & Block LLP | USA | 21 Jan 2010

DOL finalizes new regulations defining when plan contributions become plan assets: adopts small plan contribution safe harbor

The timing of when participant contributions become plan assets poses important liability issues for plan sponsors.

Article

Vedder Price PC | USA | 2 Mar 2009

Seventh Circuit rules in “excessive fees” case

On February 12, in a decision that could affect the tide of recent ERISA “excessive fee” cases, the Seventh Circuit Court of Appeals affirmed the U.S. District Court’s dismissal of all claims in Hecker v. Deere & Company.

Article

Masuda Funai Eifert & Mitchell Ltd | USA | 20 Nov 2007

Department of Labor issues final regulations regarding default investment alternatives

On October 24, 2007, the Department of Labor released final regulations implementing certain amendments to the Employee Retirement Income Security Act of 1974 (“ERISA”) that were enacted as part of the Pension Protection Act of 2006.

Article

Schulte Roth & Zabel LLP | USA | 20 Nov 2007

New regulation on qualified default investment alternatives for participant-directed individual account plans

On October 24, 2007, the Department of Labor issued the final regulations implementing the default investment amendments made to the Employee Retirement Income Security Act of 1974 ("ERISA") by the Pension Protection Act of 2006.

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