In a June 25, 2014 article “Court delivers win to 401(k) plaintiffs,” Chuck Epstein reports that employers could be held liable for holding company stock inside ESOP and 401(k) plans, especially if the stock falls in price and company executives failed to act to prevent the losses. That was the upshot of a U.S. Supreme Court ruling
The IRS has issued Notice 2014-35 which provides relief from late-filing penalties from the annual reporting requirements under Form 5500 series with respect to employee benefit plans. Under the notice, the IRS will not impose penalties relating to the filing of Form 5500, Form 5500-SF, and Form 8955-SSA or the filing of required actuarial reports with
International Paper Co. in Deep Water The Wall Street Journal reported that International Paper Co. agreed to a $30 million settlement in a suit over the company’s 401(k) Plans. The company agreed to distribute the money among some 70,000 individual workers and former participants’ accounts as well as put the plan’s administration out to bid.
As per May 7, 2013 article by Melanie Waddell of AdvisorOne. “We are looking for the best ideas on how to show people what their lump-sum retirement savings look like,” says Borzi. The Department of Labor’s Employee Benefits Security Administration announced Tuesday that it is seeking public input on a proposed rulemaking regarding lifetime income
The IRS recently announced on its web site that starting January 1, 2013, it will no longer send proposed penalty notices for untimely or incomplete Form 5500s, but rather will only send penalty notices for Form 5500s that are untimely or incomplete. The Old Way Previously, proposed penalty notices were generated after IRS had been