EBIA Weekly Archives - 401(k)

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Results (834 articles found)


  1. FTC Delays Enforcement of Red Flags Rule Until November and Issues FAQs Addressing Employee Benefit Plans
    From the July 30, 2009 EBIA Weekly
    The federal Red Flags Rule (Rule) requires certain businesses and organizations to implement written identity theft prevention programs that are designed to detect the warning signs (“red flags”) of identity theft in their day-to-day operations and ...
    [FTC Extended Enforcement Policy: Identity Theft Red Flags Rule, 16 CFR 681.1 (July 29, 2009)]
  2. Tax Court Affirms That Participant's Refinanced Plan Loan Resulted in Taxable Deemed Distribution
    From the July 23, 2009 EBIA Weekly
    In this case, a New York City Transit Authority employee challenged an IRS determination that he owed additional taxes because of a refinanced qualified plan loan. The employee, who was a participant in the New York City Employees’ Retirement ...
    [Billups v. Comm'r, T.C. Summ. Op. 2009-86 (2009)]
  3. Lender and Consultant Are Not Fiduciaries of Employer's 401(k) Plan Because Neither Exercised Discretion or Control Over Plan or Plan Assets
    From the July 07, 2009 EBIA Weekly
    For more than a year, a financially troubled employer failed to make wage payments and to deposit contributions to its 401(k) plan. Although the employer ultimately paid some of these amounts, many of the contributions to the plan were ...
    [Vengurlekar v. HSBC Bank USA, 2009 WL 362003 (S.D.N.Y. 2009)]
  4. Court Rejects ERISA Section 510 Interference Claim Because Employee Was Not Entitled to Plan Benefits
    From the June 25, 2009 EBIA Weekly
    After announcing his intent to pursue another career, the employee in this case agreed to postpone his departure to help transition his job duties to his replacement. On learning who would replace him, though, the employee made disparaging remarks about ...
    [Pendleton v. QuikTrip Corp., 2009 WL 1577172 (8th Cir. 2009)]
  5. Plans That Failed to Follow Their Own Procedures Must Pay Spouse Amounts Already Paid to Children
    From the June 18, 2009 EBIA Weekly
    The two 401(k) plans in this case made plan distributions to a deceased participant’s children even after receiving notice that an individual claiming to be the participant’s common-law spouse had started a court proceeding ...
    [Smith v. New Mexico Coal 401(k) Personal Savings Plan, 2009 WL 1598454 (10th Cir. 2009)]
  6. Can a plan limit the time a participant or beneficiary has to file a lawsuit after losing an appeal under the plan's claims procedures?
    From the June 18, 2009 EBIA Weekly
    QUESTION: Can our welfare and 401(k) plans impose a one-year deadline for participants or beneficiaries to file a lawsuit if they wish to challenge a final administrative determination under our plans’ claims procedures? ANSWER: Yes, your plans ...
  7. Court Denies Penalties for Document-Request Failure When Participant Not Harmed
    From the June 18, 2009 EBIA Weekly
    The participant in this lawsuit, which included a claim for severance benefits, sought ERISA penalties for the employer’s alleged failure to timely provide plan documents that she had requested. The participant claimed that the plan failed to respond ...
    [Nair v. Pfizer, Inc., 2009 WL 1635380 (D.N.J. 2009)]
  8. Plan Provision Relieving Trustee of Duty to Monitor and Collect Contributions Is Void as Against Public Policy
    From the June 11, 2009 EBIA Weekly
    The DOL, in this case, asked the court to declare that a plan provision relieving the trustee of any duty to monitor or collect required employer contributions was void as against public policy under ERISA Section 410 (which voids any ...
    [Solis v. Plan Benefit Services, Inc., 2009 WL 799092 (D. Mass. 2009) ]
  9. Administrator Breached Fiduciary Duties by Loaning Plan Funds to Start-Up Company
    From the June 11, 2009 EBIA Weekly
    This fiduciary breach case involved a series of loans made with plan funds from an ERISA welfare benefit trust to a start-up company. The loans were recommended as plan investments by an investment advisor, who indicated to the plan ...
    [De Costa v. Rodrigues, 2009 WL 1489637 (9th Cir. 2009) ]
  10. Are we required to amend our 401(k) plan this year if we have waived 2009 required minimum distributions?
    From the June 04, 2009 EBIA Weekly
    QUESTION: We have waived the required minimum distributions for 2009 under our 401(k) plan. Does the waiver of these distributions for 2009 require a plan amendment and, if so, when is the deadline for that amendment? ANSWER: The answer ...

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