The newsletter of the ISBA’s Section on Employee Benefits
Browse articles by year: 2015 (3)
Newsletter articles from 2009
401(k) Fiduciary Duties: Continuum of Ambiguities
401(k) revenue sharing and plan fiduciary duty litigation is becoming a complex area of law. With an increasing number of claims alleging breach of fiduciary duties and fee disclosure, employers and plan sponsors are looking for direction in this confusing area of ERISA law.
Abandoned retirement plans
As the recession has worsened, many employers are simply closing their doors and walking away from their obligations. The frequent result of a “walk-away” is that the benefit plan is abandoned. An abandoned Plan loosely defined is a plan which no longer has a “responsible” plan sponsor or plan administrator.
The Efficient Market Hypothesis and ERISA
EMH holds that the price of a stock incorporates all publicly available information about the company; it follows that plan fiduciaries are entitled to rely on that valuation and are not required to second-guess the market.
When Samuel Zell bought the Tribune Company for $8 billion in 2007, he used just $350 million of his own cash; the remainder of the p
When an executive leaves her position midway through the performance measurement period for an annual bonus, is she entitled to a pro-rata share of the annual bonus?
If you or your client needs a copy of the Form 5500 filed by a welfare plan or a pension plan it is better to go to the source. At <www.dol.gov/dol/foia> you will find instructions for making a FOIA request.
Privacy: Social Security numbers
ERISA has a little-known privacy provision in Section 106(b) which restricts the disclosure of certain information about participants.
The stimulus bill’s effect on COBRA administration
On February 19, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (the “Act”). The legislation provides for government-subsidized COBRA premiums to involuntarily terminated employees for up to nine months. Both employer sand employees should become familiar with the changes created by this Act.
Taxation of employment-related settlement payments
In an internal memorandum dated October 22, 2008, but released only in July of this year, the Internal Revenue Service (IRS) Office of Chief Counsel has outlined information necessary to determine the correct tax treatment of employment-related settlement payments.