News & Analysis as of

Annuities Pensions Employee Benefits

Burr & Forman

The Countdown Begins for Lifetime Income Disclosures

Burr & Forman on

The SECURE Act of 2019 made three statutory changes to ERISA regarding lifetime income benefit payments from defined contribution plans (e.g., 401(k), 403(b), profit sharing, and money purchase pension plans). This blog will...more

Foley & Lardner LLP

401(k) Plans: The Push for Lifetime Income Options is About to Begin

Foley & Lardner LLP on

In a little more than 35 years, 401(k) plans have become the dominant employer-sponsored retirement plan. 401(k) plans place the investment risk and reward squarely on the participant. The employee’s ultimate benefit is...more

Groom Law Group, Chartered

Big Win for Employer in Actuarial Equivalence Case – Class Certification Denied

The U.S. District Court for the Northern District of Texas dealt a major blow to the putative class action Torres v. American Airlines, Inc., finding that the four named plaintiffs are not adequate class representatives for...more

Holland & Knight LLP

The Latest Decisions in Actuarial Equivalent Lawsuits

Holland & Knight LLP on

In an opinion issued in Smith v. Rockwell Automation, Inc., et al., No. 19-C-0505 (E.D. Wis.) on Feb. 10, 2020, U.S. District Judge Lynn Adelman denied Rockwell Automation's motion to dismiss a putative class action complaint...more

Groom Law Group, Chartered

Court Challenges to DB Plan Actuarial Assumptions – One Year Later

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...more

Jackson Lewis P.C.

IRS No Longer Forbids Pension Plans From Offering Lump Sum Payouts To Retirees Currently Receiving Payments

Jackson Lewis P.C. on

Over the past several years, sponsors of defined benefit pension plans have examined and implemented ways to reduce their pension liabilities. This is sometimes referred to as “de-risking.” One de-risking option is for a plan...more

Laner Muchin, Ltd.

Pension Plan Sponsors Should Be Mindful Of A New Wave Of Class Action Lawsuits

Laner Muchin, Ltd. on

In December 2018, class action lawsuits under the Employee Retirement Income Security Act (ERISA) were filed against several large single-employer defined benefit plans.  The suits focus on the calculation of joint and...more

Blake, Cassels & Graydon LLP

2019 Federal Budget: Key Provisions Affecting Pensions, Benefits and Executive Compensation

CHANGES TO INSOLVENCY PROCEEDINGS, CORPORATE LAW AND PENSIONS - The 2019 Budget proposes to introduce legislative amendments to the Companies’ Creditors Arrangement Act, the Bankruptcy and Insolvency Act, the Canada...more

Kilpatrick

PBGC Staff Object to Premium Savings in Spinoff and Termination Pension Annuity Transactions

Kilpatrick on

PBGC staff have taken the position in informal guidance that plan sponsors that structure pension annuity purchases through spinoff and termination transactions should not be able to achieve the significant savings on PBGC...more

Blake, Cassels & Graydon LLP

Ontario Files Regulations in Support of Pension Plan Administrator Discharge Upon Annuity Purchase

The Ontario government recently filed O. Reg. 193/18, Purchase of Pension Benefits From an Insurance Company – Section 43.1 of the Act (Regulation) under the Pension Benefits Act (PBA). The Regulation supports the provision...more

Robinson & Cole LLP

Connecticut Department of Revenue Services Issues Additional Guidance on the New Mandatory Income Tax Withholding Requirements for...

Robinson & Cole LLP on

On December 7, 2017, the Connecticut Department of Revenue Services (DRS) issued additional guidance regarding the new statutory withholding requirements for certain payors of pension and annuity payments set to take effect...more

Robinson & Cole LLP

New Connecticut Mandatory Income Tax Withholding Requirements for Pension and Annuity Payments

Robinson & Cole LLP on

New legislation, effective January 1, 2018, will require certain payors of pensions and annuities to withhold Connecticut state income tax from distributions made from an employer pension, annuity, profit-sharing plan, stock...more

Franczek P.C.

Treasury Makes it Easier for Pension Plans to Pay Partial Annuities

Franczek P.C. on

The Department of Treasury has issued final regulations that simplify the rules that allow retiring participants to simultaneously elect a partial lump sum and a partial annuity from a defined benefit pension plan. Under the...more

Snell & Wilmer

Now You Can Have Your Cake and Eat It Too: New Pension Distribution Rules Allow More Flexibility

Snell & Wilmer on

If you are one of the lucky few employees who participate in an employer’s defined benefit retirement plan, you previously had to choose between receiving your benefits in a lump sum or in annuity payments. However, in the...more

Seyfarth Shaw LLP

Seventh Circuit Does The Math and Sides with Plan Administrator in Pension Calculation Dispute

Seyfarth Shaw LLP on

On Wednesday, March 16, the Seventh Circuit inspired a collective sigh of relief among actuaries and plan administrators everywhere. In Cocker v. Terminal Railroad Association of St. Louis Pension Plan for Nonschedule...more

Franczek P.C.

Employee Benefits Alert - July 2015

Franczek P.C. on

Major Revisions to Qualified Plan Determination Letter Process Announced - Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more

16 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide