Legal News

As reported previously, in March of 2018, the UK Department of Work and Pensions issued a white paper calling for significant toughening of the fiduciary duties around pensions.  This was in response to the collapse of a number of large defined...By: Groom Law Group, Chartered

On February 4, 2020, the Pension Benefit Guaranty Corporation (“PBGC”) issued final regulations (the “Final Rule”) covering reportable events, annual reporting under ERISA section 4010, plan termination filings, and PBGC premiums.  85 Fed. Reg....By: Groom Law Group, Chartered

Eleven cases have been filed against defined benefit pension plan sponsors and certain fiduciaries alleging that the plan’s assumptions—called “actuarial equivalence factors” or “actuarial equivalence assumptions”— for converting a single-life...By: Groom Law Group, Chartered

In December, the IRS/Treasury (“IRS”) published final rules addressing how employers that fund health and welfare benefits through a VEBA (i.e., a voluntary employees’ beneficiary association described in Section 501(c)(9) of the Internal Revenue...By: Groom Law Group, Chartered

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019. ...By: Groom Law Group, Chartered

Many of the provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) do not apply to non-electing church plans, but some do, notably those dealing with certain 403(b)(9) plans and distributions.  This is...By: Groom Law Group, Chartered

As the U.S. private retirement system has largely shifted away from traditional pensions in favor of a defined contribution plan savings model, a number of policymakers have expressed concerns over whether participants’ expectations of retirement...By: Groom Law Group, Chartered

IRA providers were concerned with not being able to “stop the presses” when it came to notices being provided in January to IRA owners regarding the need to take 2020 minimum required distributions (“MRDs”)....By: Groom Law Group, Chartered

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the SECURE Act are effective on...By: Groom Law Group, Chartered

Brief Takeaway:  Plan sponsors that offer employer stock in their benefit plans can breathe a sigh of relief, as the Supreme Court vacated one of the only plaintiff-friendly rulings in ERISA “stock drop” litigation. ...By: Groom Law Group, Chartered