Current Events

Update on Company Stock in Retirement Plans

October 21, 2015

Whitley v. BP (aka In Re: BP p.l.c. Securities Litigation), a stock drop case, is on appeal before the Fifth Circuit Court of Appeals. The case provides a useful review of post-Fifth Third stock drop litigation theories and counter-theories. In this article we begin with a review of the Fifth Third stock drop standard and then consider the arguments being made by plaintiffs in post-Fifth Third stock drop cases and possible counterarguments. Read More

2016 Increases for Retirement Plans, Social Security

October 20, 2015

The Social Security Administration just announced benefit increases, or lack thereof, effective in 2016. For the second time in the past six years, current retirees will not receive a cost-of-living increase in 2016, due to a decline in the CPI-W between the third quarter of 2014 and the third quarter of 2015. These changes will affect benefits for currently retired individuals, as well as those contemplating retirement. Read More

Update on DOL Fiduciary Proposal

October 05, 2015

According to Department of Labor Secretary Perez, DOL has received over 330,000 comments on its fiduciary regulation proposal. The DOL website shows 2,631 public comments. In August, DOL held four days of hearings, at which opponents and supporters of the proposal presented their views. In this article we provide an update on the current status of the proposal and consider what changes may be made to it. Read More

PBGC issues final reportable event regulation using "low-default-risk" test

September 29, 2015

On September 11, 2015, the Pension Benefit Guaranty Corporation (PBGC) finalized reportable event regulations under ERISA section 4043. The major feature of the new regulation is a tightening of the ‘well-funded plan’ waiver and the addition of a new ‘low-default-risk’ waiver, shifting focus (for the first time in a PBGC rule) from the financial condition of the plan to the financial condition of the plan sponsor. In this article, we focus on some of the key changes made by the new rule. Read More

Bipartisan policy proposals for DC plans

September 04, 2015

In July 2015, the Savings & Investment Bipartisan Tax Working Group (WG) of the Senate Finance produced a report for the Committee's broader tax reform project. The WG report provides a useful inventory of current bipartisan defined contribution plan policy proposals. In this article we summarize the report. Read More

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