Labor department/EBSA

Parrot Cellular to pay $4.2 million in ESOP lawsuit settlement

Fiduciaries of the Parrot Cellular Employee Stock Ownership Plan agreed to pay $4.2 million to settle a lawsuit brought by the Department of Labor alleging inflated stock prices paid by the ESOP.

October 23, 2013 | 04:02 pm
A long history of reaction

A long history of reaction

The history of U.S. pension legislation over the last four decades is largely one of playing catch-up.

October 14, 2013
California sues Labor Department for denying transit funding because of pension reform

California sues Labor Department for denying transit funding because of pension reform

California filed a lawsuit against the Department of Labor on Friday for “improperly denying federal grants to California public transit works after it erroneously concluded that the pension...

October 04, 2013 | 05:47 pm
EBSA guidance on same-sex couples for retirement plans mirrors IRS rules

EBSA guidance on same-sex couples for retirement plans mirrors IRS rules

Employers wondering how the Supreme Court decision that voided parts of the Defense of Marriage Act affects their retirement plans got some clarity Wednesday from the Department of Labor.

September 18, 2013 | 05:38 pm
Borzi: DC providers need to do better job on fee disclosure

Borzi: DC providers need to do better job on fee disclosure

Many defined contribution service providers are not complying with the letter or even the spirit of fee disclosure regulations, said Phyllis Borzi, assistant secretary of labor and head of the...

September 12, 2013 | 02:11 pm
California rushes to temporarily set aside pension reforms to save transit funding

California rushes to temporarily set aside pension reforms to save transit funding

Public transit workers in California will not be subject to new pension rules imposed on state and local government employees under a plan proposed by California Gov. Edmund. G. “Jerry”...

September 05, 2013 | 04:09 pm
Derailing pension reforms

Derailing pension reforms

The Obama administration is using the federal government's financial clout to attempt to weaken public employee pension reforms passed last year by the state of California. In particular, it is...

September 02, 2013

DOL sues California Pacific Bank alleging ESOP mismanagement

The Department of Labor filed a lawsuit Thursday against California Pacific Bank and four of its directors for mismanaging the bank's employee stock ownership plan resulting in potential losses of $1....

August 22, 2013 | 05:56 pm
DOL's Perez backs unions in pension melee

DOL's Perez backs unions in pension melee

Labor Secretary Thomas Perez inherited a fight over workers' rights and California's pension reforms.

August 19, 2013

SPARK Institute joins chorus of calls to recognize 'state of celebration'

The SPARK Institute on Thursday asked the departments of Labor and Treasury to issue regulations allowing defined contribution plans to determine a participant's marital status based on “state...

August 15, 2013 | 03:52 pm
Labor secretary's  job might be new, but his plate is full

Labor secretary's job might be new, but his plate is full

Thomas Perez, the new secretary of labor, will have little time to make an immediate imprint on retirement issues as he inherits the already packed regulatory agenda of the Employee Benefits Security ...

August 05, 2013

DOL wins bid to remove Metavation plan trustees

A U.S. District Court judge removed Metavation LLC Chairman George Hofmeister and investment adviser Bernard Tew as defined benefit plan trustees.

July 29, 2013 | 03:59 pm

DOL removes plan trustee for alleged misuse of pension assets

The Labor Department won a consent judgment against a pension trustee for allegedly misusing $4.2 million in assets for the Sadimara Knitwear Inc. and the Stallion Knits Ltd. pension plans in New York.

July 24, 2013 | 03:58 pm
PBGC, Labor Department band together to fight alleged fiduciary abuse at Revstone

PBGC, Labor Department band together to fight alleged fiduciary abuse at Revstone

Federal pension overseers, joining forces to stop what they say is widespread fiduciary misconduct by Revstone Industries LLC Chairman George Hofmeister, are winning some crucial victories. But they...

July 22, 2013

Employer groups push Obama administration for post-DOMA guidance

Employer groups are pushing the Obama administration for guidance following the Supreme Court's June 26 decision that voided key provisions of the Defense of Marriage Act. That decision becomes...

July 18, 2013 | 03:55 pm