Pension, patent rights at stake in SCOTUS Spokeo case: new briefs
The U.S. Supreme Court will hear oral arguments in Spokeo v. Robins on Nov. 2. And if you still had any doubts (despite my frequent reminders) about the potentially enormous consequences of this case, the 14 newly filed amicus briefs backing Thomas Robins – the lead plaintiff in a Fair Credit Reporting Act class action […]
AIG freezes pension
American International Group Inc. will freeze its defined benefit pension plan, effective January 1, 2016, according to an internal company memo obtained by the Wall Street Journal.
Financial advisers should all play by the same rules
Thousands of Registered Investment Advisers already abide by a fiduciary standard when giving advice under the federal Investment Advisers Act. But brokers and insurance agents aren’t held to this standard, even though they might use “investment advisor” on their business cards. They only need to offer choices that are “suitable” for clients, and that doesn’t […]
IRS releases multiemployer benefit cut voting rules
Procedures for allowing multiemployer plan participants to vote on benefit reductions in distressed plans were issued by the IRS on Wednesday.
Plans Applying for Partitions With PBGC Need Flexibility in Final Rules, Groups Say
Multiemployer plans asking the PBGC to allow them to partition their pension plans need the application process to be flexible, according to comment letters from various groups.