The Internal Revenue Service has announced the dollar limitations applicable to pension plans that become effective January 1, 2002 under the Economic Growth and Tax Relief Act of 2001.
To the relief of more than 6,500 retirees, the federal Pension Benefit Guaranty Corp. will assume responsibility for the pension plan of bankrupt Payless Cashways Inc., the Kansas City Star reports.
In response to the changing needs of the retirement plan industry, the American Society of Pension Actuaries (ASPA) has unveiled a training program specifically designed for those who administer 401(k) and related defined-contribution plans.
The Pension Benefit Guaranty Corporation (PBGC) has announced it will provide relief from various PBGC deadlines and other requirements for those affected by the terrorist attacks on the World Trade Center and Pentagon.
A profit-sharing plan and a pension plan may be covered by the Employee Retirement Income Security Act, even if all of the participants are part-owners of the company and members of the same family, a federal appeals court has ruled.
Not only are fewer companies offering new retirees health coverage, but many of those that have benefit plans are scaling them down, angering former employees, according to USA Today.
The U.S. Labor Department, reflecting the change in administrations, has decided to support legislation that would let retirement plan providers offer financial advice to participants.
A federal judge has ruled that the Xerox Corp.'s pension plan is flawed, and that may lead to an order for the Stamford, Conn.-based company to pay as much as $300 million to retired workers, the Wall Street Journal reported in its online edition on Wednesday.
The Department of Labor's Pension and Welfare Benefits Administration has delayed "for at least six months and not more than one year" the effective date for its final ERISA regulations concerning benefit claims procedures of group health plans.
