News & Analysis as of

VAT Charged On Invoices Relating To Defined Benefit Occupational Pension Schemes – All Change For HMRC’s Approach

HMRC has released new guidance dealing with the ability of sponsoring employers to recover input VAT in respect of supplier costs for running defined benefit occupational pension schemes. These costs will typically involve a...more

IRS Issues Final and Proposed Hybrid Plan Regulations

On September 19, 2014, the Internal Revenue Service ("IRS") released additional final regulations clarifying the rules regarding hybrid defined benefit pension plans. At the same time, the IRS also issued proposed regulations...more

Final and Proposed Regulations on Hybrid Pension Plans

Plan sponsors have been granted limited relief to bring cash balance interest crediting rates into compliance. On September 18, the Internal Revenue Service (IRS) published final and proposed regulations for cash...more

PBGC Intends to Monitor Lump-sum and Annuity Cashouts Under Defined Benefit Plans

The Pension Benefit Guaranty Corporation (PBGC) stated in a filing published in the Federal Register on September 23, 2014, that it intends to require that plan sponsors report to the PBGC “certain undertakings” to cashout or...more

For Pension Plans – To Risk or to De-Risk: That is the Question!

U.S. private-sector retirement plans are voluntary in nature. There is no legal requirement that employers adopt or contribute to retirement plans in addition to the social security system. However, once established,...more

Monthly Benefits Update

On August 8, President Obama signed legislation that extends certain “pension smoothing” provisions in the Moving Ahead for Progress in the 21st Century (MAP-21) Act that was signed in 2012. This pension funding relief will...more

Monthly Benefits Update - July 2014

Two federal appeals courts issued contradictory rulings on the validity of subsidies for the purchase of health insurance under the federal marketplace established pursuant to the Affordable Care Act (ACA). On July 22, a...more

Discriminatory Defined Benefit Plans: Finding Retirement Gold in the Least Likely of Places

We live in politically charged times. Congress seems unable to reach a consensus on anything, including where to have the annual congressional Christmas ball! Years of political crossfire over the Affordable Care Act have...more

Full disclosure: A practical guide for the HR professional when preparing the retirement plan portions of a proxy statement

In 2006, the SEC adopted rules which created the Pension Benefits Table and Nonqualified Deferred Compensation Table to supplement the Summary Compensation Table. The tables mandate certain specific disclosures with respect...more

Religious Institutions Update - Lex Est Sanctio Sancta

"Church plans" are pension plans (including defined benefit or defined contribution plans) exempt (without an irrevocable election) from many of the legal requirements of the Employee Retirement Income Security Act (ERISA)...more

CalPERS Declares Wall Street Journal Wrong

The California Public Employees’ Retirement System has a well-deserved rap as a taxpayer drain. So to rehabilitate its image, the pension fund has produced a “study” purporting that public-worker pensions are California’s...more

Court's Tentative Decision on San Jose's Pension Reform Measure Appears to Favor City

However, the Vested Rights Doctrine Proves Fatal to Core Pension Reform Measures - A tentative decision on the legal challenges to the City of San Jose’s pension reform measure, Measure B, was released late last month....more

CalSTRS Extends Time to Elect to have Service Count Toward CalSTRS Retirement

CalSTRS recently issued new guidance that applies when a CalSTRS member changes to a new position that may not be eligible for participation in the retirement system. The guidance, found in Employer Information Circular,...more

Pension News - November 2013

In This Issue: - Automatic enrolment - The Pensions Regulator - Pension Protection Fund - Department for Work and Pensions - Case law - Other News - On The Horizon - Contact Details -...more

UK Supreme Court rules on priority ranking of pension liabilities in company insolvencies

On 24th July the UK Supreme Court handed down its unanimous decision in relation to the LBIE/Nortel appeal, overturning the previous Court of Appeal and first instance judgments....more

Federal court imposes personal liability for multiemployer pension plan liabilities

A recent case highlights the risk of personal liability for multiemployer and other defined benefit pension plan liabilities. Owners of closely held corporations that contribute to multiemployer or single employer defined...more

Court Rewrites Plan to Increase Benefits

The Supreme Court’s 2011 CIGNA v. Amara decision suggested that an employer’s pension plan could be rewritten to remedy the employer’s failure to fulfill its disclosure obligations under the Employee Retirement Income...more

Representations Of Future Tax Treatment To Induce Creation Of Pension Plan Are Not Actionable As A Matter Of Law

The California Fourth District Court of Appeal adopted the principle that it is inherently unreasonable for any person to rely on a prediction of future IRS enactment, enforcement, or non-enforcement of the law by someone...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Retirement and Pensions Update - Janurary 2, 2013

In This Update: Fiscal Cliff Deal Includes Provisions on Charitable Contributions and Roth Roll Overs; PBGC Testifies in Subcommittee Hearing on Multiemployer Plans; IRS Updates Retirement Plan Rules for Hurricane...more

20 Results
|
View per page
Page: of 1