01/20/2012
Q. An employee’s spouse has become disabled. Even though this employee is younger than 59½, he’d like to take a distribution out of his 401(k) account. Can we accommodate him?
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11/23/2011
The U.S. District Court for Western Pennsylvania has ordered Kevin T. Weir, chief executive officer of Liberty-Pittsburgh Inc., to repay $67,138 to his employee’s 401(k) plan. The settlement resulted from an investigation by the U.S. Department of Labor’s EBSA.
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11/09/2011
Using its power under the Employee Retirement Income Security Act, the Department of Labor’s Employee Benefit Security Administration has taken over the 401(k) plan of the Northland Inn in Minneapolis after the hotel’s owner ceased operations in 2009.
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11/07/2011
The federal government is suing the owners of a Columbus printing company and their pension plan administrator, claiming they all failed to execute their fiduciary responsibilities to employees. At issue is more than $400,000 in funds missing from two pension accounts set up for employees of Clark Graphics.
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10/03/2011
The Employee Benefits Security Administration (EBSA) is suing Keith Davis, owner of Elmhurst-based A.B.D. Tank & Pump Co., claiming he drained his employees’ retirement fund of $1.9 million.
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09/30/2011
Employees who were automatically enrolled in a defined contribution retirement plan—401(k)s and 403(b)s, for example—and who participate in automatic contribution increase programs have a 25% higher contribution rate than other employees, according to the Mercer consulting firm.
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09/15/2011
When cash for pay raises is tight, it’s hard to use that as a carrot to attract and retain employees. But the uncertain economy has many workers increasingly focused on long-term financial security. That makes retirement benefits all the more attractive. If you don’t currently offer a retirement plan, it might be time to consider establishing a 401(k) plan.
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08/08/2011
On June 24, Gov. Andrew Cuomo signed the Marriage Equality Act, which allows same-sex couples to be married in New York and to have, with certain exceptions, the same legal protections available to opposite-sex couples married in New York. The law has important implications for employer-provided benefits.
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07/13/2011
Curt Lansbery, CEO of North American Tool, couldn’t understand why his employees weren’t maxing out their 401(k) contributions, even though the company kicked in. Here's how he prompted employees to take action.
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06/14/2011
Summer is usually when employees who belong to the National Guard and military Reserves give their two weeks of duty to Uncle Sam. Now is the time to prepare for their absence, by following these eight tips.
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06/03/2011
Summer is usually when employees who belong to the National Guard and military Reserves give their two weeks of duty to Uncle Sam. Some military-connected employees may be deployed for longer periods of time. Now is the time to prepare for their absence.
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04/21/2011
At most hair salons, stylists are on their own when it comes to time off and health benefits. But the owners of Studio 921 Salon & Day Spa in Baltimore are different, offering one paid week of annual leave to employees who have worked a year, a 401(k) plan with a 3% match and group health insurance.
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04/18/2011
American workers are less confident than ever that they’ll be able to save enough to retire comfortably, according to a new study by EBRI. Benefits professionals, take note: The finding means you have lots of work ahead of you to help employees meet their retirement goals. But a growing arsenal of online tools can make it easier for employees to take control of their retirement planning.
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04/14/2011
The DOL’s Employee Benefits Security Administration (EBSA) has sued Parkland Hotel Investors—once one of the Twin Cities’ biggest commercial financiers—in an attempt to distribute the company’s 401(k) assets to 96 former employees who participated in its retirement plan.
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04/14/2011
Elmhurst-based Results One Financial and its co-founder Steve Salutric face charges of diverting more than $1 million from pension funds it managed.
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