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ERISA

Offering State-Sponsored IRAs to Private-Sector Workers

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California Senate President Pro Tem Kevin de Leon’s “second mother,” his Aunt Francisca, spent most of her 74-plus years cleaning houses for people who had pensions through their employers or were wealthy enough to set aside money in their own retirement accounts.

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Brokers Fight Rule to Favor Best Interests of Customers

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David O’Brien, a certified financial planner, has tried to repair the retirement portfolios of several victims over the years. There was the high school science teacher who didn’t realize she had been sold a variable annuity, where layers of incomprehensible fees devoured nearly 2.5 percent of her retirement savings each year.

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Connecticut Secure Retirement Plan

Legislation

On May 7, 2014, the Connecticut General Assembly passed a “budget implementer” bill that includes provisions to lay the groundwork for a new state-administered retirement savings plan for private-sector workers who do not have an employer-provided pension or retirement savings plan.

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ERISA Anti-Cutback Rule at Heart of Debate On NCCMP Proposal for Multiemployer Plans

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There is one thing representatives for multiemployer pension plans can agree on: The system needs to be strengthened if it is going to survive.

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Thought Secure, Pooled Pensions Teeter and Fall

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The pensions of millions of Americans are being threatened because of trouble in a part of the retirement world long considered so safe that no one gave it a second thought.

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Federal judge: Saint Peter's pension case can proceed

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A New Jersey federal district court judge recently ruled that the pension plan of city-based Saint Peter’s University Hospital is not a "church plan" exempt from the protections of federal pension law.

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Decision in Saint Peter’s “Church Plan” Case a Victory for Workers and Retirees; Lawsuit against Hospital Can Proceed

News Release

WASHINGTON – On Monday, a New Jersey federal district court judge ruled that a pension plan established by religiously-affiliated hospital is not a “church plan” exempt from the protections of federal pension law. The Honorable Michael A.

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Courts question law leaving pensions unprotected

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New rulings against Catholic hospital chains on both coasts have intensified a faceoff between religiously affiliated employers and workers who are alarmed by the companies' efforts to avoid insuring or funding their pensions.

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Challenges to 2 church plans move forward

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On Monday, a U.S. District Court in New Jersey dismissed a motion by Saint Peter's Healthcare System, New Brunswick, N.J., to stop a lawsuit by pension plan participants challenging a recent ruling by the IRS that it was a church plan exempt from ERISA. The IRS determination, wrote Judge Michael Shipp, "conflicts with the plain text of the statute and is therefore unreasonable."

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Timing of Fiduciary Rule for Retirement Plans Questioned

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If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.

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