This week, the U. S. Supreme Court rejected a long-standing “presumption of prudence” that protected an ERISA fiduciary’s decision to allow qualified retirement plan participants to invest in company stock. However, the...more
The IRS has announced a new targeted audit program to confirm that deferred compensation plans are in compliance with Section 409A of the Internal Revenue Code (“Section 409A”). Previously, the IRS has only examined Section...more
Form 8955-SSA Required to Correct Late Form 5500. The IRS recently issued a new rule for late Form 5500 filings on qualified retirement plans (such as 401(k) plans, ESOPs or pension plans) using the Department of Labor’s...more
The Eighth Circuit Court of Appeals recently upheld a $13.4 million dollar judgment against retirement plan fiduciaries for their failure to monitor excessive recordkeeping fees in Tussey v. ABB, Inc.
Last week, the Internal Revenue Service (“IRS”) issued additional guidance on amendments to qualified retirement plans required by the U.S. Supreme Court’s ruling in United States v. Windsor, in which the Court held certain...more
As we recently reported in the theHRBenefitsAuthority on March 11, 2014, the U. S. Supreme Court was expected to issue a ruling this year in United States v. Quality Stores Inc. on whether certain severance benefits are FICA...more