News & Analysis as of

PBGC Supports Lifetime Income

The Pension Benefit Guaranty Corporation (PBGC) recently issued a proposed regulation designed to encourage participants in defined contribution plans (e.g., 401(k) plans) to roll over their account balances to their...more

Money purchase deconstructed: Working with the new definition – a checklist for trustees and administrators

The definition of money purchase benefits is changing, and with it the rules on how schemes are required to deal with any benefit which becomes classified as ‘non-money purchase’. More information about these affected...more

Various Changes To The Law On Occupational Pensions

Yesterday an act has entered into force which makes various changes to the legal framework of occupational pensions for employees, self-employed individuals and self-employed company leaders. You will need to assess...more

Pension Reform Update

As June 30 approaches, the likelihood of an on-time balanced budget remains a question. And while there are many factors contributing to the commonwealth’s grim fiscal situation, there has been a lot of talk as of late about...more

Compulsory Pension Provision in the UK: Some Tricky Issues

Shedding light on some complex issues that can arise with UK auto-enrolment. In the UK, The Pensions Regulator (TPR) recently published its first report on enforcement action it has taken against an employer for...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

Good Faith And Employee Communications: Landmark ruling in IBM UK Holdings Ltd and IBM UK Ltd v Dalgleish and others

Employers undertaking pension scheme benefit change processes need to give careful consideration not only to the detail of member communications, but also to the overall impression they give and to member expectations which...more

Ninth Circuit Takes Narrow View of ERISA Surcharge Remedy

In Gabriel v. Alaska Electrical Pension Fund, the Ninth Circuit ruled that a pension plan participant could not be “made whole” by using the equitable remedy of surcharge to recover pension benefits he was erroneously told he...more

VAT recovery and pension schemes: Where are we now?

HMRC’s policy on reclaiming VAT on investment management and other costs remains under review in the light of two recent decisions from the Court of Justice of the European Union. The first of these cases, PPG...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

Court Approves USERRA Class Action Settlement Over Pension Contributions

A federal district court in Colorado recently approved a settlement agreement resolving class action claims brought under the Uniformed Services Employment and Reemployment Rights Act (USERRA). The documents filed in support...more

Illinois Pension Reform Update: Judge Stays Implementation Of Pension Reform Law

On May 14, 2014, an Illinois Circuit Court Judge in Springfield issued an order staying the Pension Reform Law (Public Act 98-0599 – the “Act”) in its entirety and blocking the enforcement and administration of the Act until...more

Federal Framework for Target Benefit Plans vs. New Brunswick’s Shared Risk Model: Similarities and Differences

On April 24, 2014, the federal government released a consultation paper proposing a framework for target benefit plans (TBP), and seeking input from stakeholders on the parameters of the proposed TBP framework. The...more

State Pension Fight heads to Supreme Court

Four public employees unions are taking the state to the Supreme Court, seeking reversal of 2011 increases to the amounts they pay toward their pensions, as well as refunds for increased pension payments they made during the...more

Pension Innovation: New Brunswick’s Shared Risk Model

New Brunswick has enacted legislation to permit shared risk pension plans (SRPs), a type of target benefit plan (TBP), while other Canadian provinces have passed amendments to enable TBPs. This article discusses...more

Differentiating Pension Issues: TBPs vs. CPP

We noticed last week after the federal government’s welcome announcement to commence a consultation process on target benefit plans (TBPs) that much of the media coverage and discussion focussed on the Canada Pension Plan...more

Amendments to Alberta’s Proposed New Employment Pension Plans Act

Alberta appears to be moving forward with its pension reform agenda. As you may recall, on December 10, 2012, Alberta’s new Employment Pension Plans Act (the Proposed New EPPA) received royal assent, but it has not yet been...more

Unpaid Employer Contributions as Plan Assets: Expansion Of Liability Under ERISA

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), requires trustees of multiemployer pension and benefit funds to collect contributions required to be made by contributing employers under their...more

Germany: When is a New Hire too old to join a Company Pension Scheme?

In Germany, all employees are mandatorily covered by the statutory pension insurance which provides the main source of income during retirement. In addition, many companies grant company pension benefits to their employees,...more

CAPSA Releases Final Guideline re DC Plans – Plan Administrators May Need to “Up Their Game” Regarding Communication of...

On March 28, 2014, the Canadian Association of Pension Supervisory Authorities (CAPSA) released the Defined Contribution (DC) Pension Plans Guideline (CAPSA previously released a draft for comment in July 2012). While CAPSA’s...more

Monthly Benefits Update

As expected, the Department of the Treasury and the IRS (the “Agencies”) finalized the employer information reporting requirements under the Affordable Care Act (the “ACA”) earlier this month. The final rules, which are...more

Private sector pension de-risking and participant protections

On Nov. 5, 2013, the ERISA Advisory Council submitted findings and recommendations on pension de-risking to the Secretary of Labor. Pension de-risking transactions have received a lot of attention lately, both in the media...more

New Brunswick Reforms MLAs Pensions to Shared Risk

On March 26, 2014, the New Brunswick legislature introduced for first reading Bill 51, An Act Respecting Members’ Pensions, which proposes to move Members of the Legislative Assembly (MLAs) to the shared risk pension plan...more

Restructuring Pensions in Quebec’s Municipal Sector: Hints of Private Sector Reform to Come?

As was expected, the Quebec government recently tabled Bill 79, An Act to provide for the restructuring of and make other amendments to municipal defined benefit plans, which is aimed at improving the sustainability of...more

What the Pension Reform Decision in Arizona May Mean for Illinois

Today the Arizona Supreme Court has handed down its much-anticipated decision in Fields v. The Elected Officials’ Retirement Plan. In Fields, the Court unanimously struck down a pension reform package enacted by the...more

67 Results
|
View per page
Page: of 3