Reporting & Disclosure

Foundation Publication Search Results

These summaries were compiled from Foundation Publications Search, a database of articles, research reports and books published by the International Foundation and the International Society of Certified Employee Benefit Specialists.


Retiree-Only Health Plans Must Be Clearly Explained to Participants.
Benefits Magazine; v55 no2 pp 51, 54 Feb 2018; journal article

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Abstract : The U.S. Court of Appeals for the Ninth Circuit reverses a district court grant of summary judgment in favor of the defendant benefit plan fiduciaries after finding that the lifetime benefit limits, which can be acceptable under a retiree-only plan were not adequately explained to the plaintiff plan participant.
[0200877]

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Autism Treatment Coverage Suit Proceeds.
Benefits Magazine; v55 no1 pp 52-53 Jan 2018; journal article

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Abstract : The U.S. District Court for the Northern District of Alabama grants in part and denied in part the motion by the defendant health insurance company to dismiss the plaintiff health care plan participant's claims under the Employee Retirement Income Security Act of 1974 (ERISA).
[0200837]

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De Novo Review of Claim Denial Ordered for Lack of Clear Delegation of Discretionary Authority to Plan Administrator.
Hesse, Katherine A.; Benefits Quarterly; v34 no1 p 66 1st Qtr 2018; journal article

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Abstract : De novo review of a denial of long-term disability (LTD) claim is warranted since the plan entailed no clear delegation of discretionary authority to Triple-S. As such, its decisions were not entitled to deference.
[0200920]

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Ontario Court Leaves Unanswered Questions on PBA.
Ragni, David; Plans & Trusts; v36 no1 pp 33-34 Jan-Feb 2018; journal article

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Abstract : In "Hiscocks v. Financial Services Commission of Ontario Tribunal et al.," the Ontario Divisional Court was presented with the opportunity to clarify the appropriate interpretation of several provisions of the Pension Benefits Act (PBA), including the remedial jurisdiction of the Financial Services Tribunal.
[0200859]

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SPD Enforceable as a Single Plan Document.
Hesse, Katherine A.; Benefits Quarterly; v34 no1 pp 70-71 1st Qtr 2018; journal article

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Abstract : A summary plan description (SPD) is enforceable in the absence of a separate written instrument so long as it is compliant with the requirements set forth in the Employee Retirement Income Security Act (ERISA) and does not conflict with other plan documents.
[0200923]

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Washington Update: PBGC Technical Update 17-1 Active Participant Reduction Reportable Events.
Benefits Magazine; v55 no1 pp 62, 66 Jan 2018; journal article

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Abstract : Pension Benefit Guaranty Corporation (PBGC) Technical Update 17-1, released on September 15, 2017, provides guidance on compliance with the active participant reduction event requirements of Section 4043(c)(3) of the Employee Retirement Income Security Act of 1974 (ERISA) and the PBGC regulation on Reportable Events and Certain Other Notification Requirements.
[0200843]

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10 Ways to Manage Responsibilities With Terminated Vested Participants.
Dalal, Zane; Benefits Magazine; v54 n12 pp 34-38 Dec 2017; journal article

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Abstract : Retirement plan sponsors are responsible for identifying, locating and notifying terminated vested participants of their rights to benefits. In light of an investigation by the Department of Labor into timely disbursement of these benefits, the author offers ten strategies for managing these responsibilities.
[0200794]

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Proposed Alternative Actions Fail in 401(k) Stock Challenge.
Benefits Magazine; v54 n12 pp56, 58 Dec 2017; journal article

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Abstract : The U.S. District Court for the Western District of Texas grants the motion by the defendant board of directors for a supermarket chain to dismiss an amended complaint by the plaintiff 401(k) plan participant concerning a breach of fiduciary duties under Section 502 of the Employee Retirement Income Security Act of 1974 (ERISA).
[0200801]

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How to Survive a DOL Audit.
Allen, Lisa; NewsBriefs; v35 pp 24-25 4th Qtr 2017; journal article

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Abstract : Complying with ACA mandates and IRS rules impact the outcome of a DOL audit. DOL auditors request a variety of documents, the most important of which is the summary plan description.
[0200785]

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Failure to Timely Produce Plan Documents Warrants Statutory Penalty.
Benefits Quarterly; v33 no4 pp 47-48 4th Qtr 2017; journal article

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Abstract : A penalty against a plan administrator for failing to timely produce plan documents concerning a participant's claim for long-term disability benefits is warranted under ERISA. However, a penalty is not warranted under ERISA for failure to timely produce e-mail communications.
[0200821]

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Anatomy of a Benefit Appeal: Best Practices for Plan Sponsors.
Brice, Daniel R.; Benefits Magazine; v54 no9 pp 14-21 Sep 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : Having the proper procedures in place for responding to benefit appeals can help health and pension plan sponsors avoid breaching their fiduciary duties and prevent expensive litigation.
[0200689]

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Claims for Excessive Plan Fees to Proceed.
Benefits Magazine; v54 no8 pp 52, 54 Aug 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the District of Columbia permits the plaintiff welfare plan employees to proceed with their lawsuit against the defendant parking company and third-party administrator for charging excessive plan fees in violation of their fiduciary duties.
[0200660]

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Claims Time-Barred Due to Actual Knowledge.
Benefits Magazine; v54 no8 p 58 Aug 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Northern District of California determines that the plaintiff former employees' claims against the defendant computer company for imprudent investments and inadequate disclosures were time-barred under the statute-of-limitations provisions for fiduciary matters under the Employee Retirement Income Security Act of 1974 (ERISA).
[0200665]

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Clear Language Supports Cuts to Retiree Health Benefits.
Benefits Magazine; v54 no8 pp 48, 50 Aug 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. Court of Appeals for the Fourth Circuit affirms a district court grant of summary judgment to the defendant aluminum manufacturing company after concluding that collective bargaining agreements did not provide vested health benefits to the plaintiff retirees.
[0200657]

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ERISA Plan Beneficiary Not Changed by Substantial Compliance.
Benefits Magazine; v54 no8 p 56 Aug 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Middle District of Florida denies the plaintiff's claim for benefits as the beneficiary of a deceased plan participant because the decedent did not strictly comply with plan requirements to change her beneficiary designation and the courts do not recognize the doctrine of substantial compliance with respect to the Employee Retirement Income Security Act of 1974 (ERISA).
[0200663]

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Litigation May Proceed for Underpaid Pension Benefits.
Benefits Magazine; v54 no7 pp 59, 64 Jul 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Southern District of New York refuses to dismiss the plaintiff employees' lawsuit against the defendant national consumer goods company for failure to pay promised pension benefits, failure to provide requested plan documents and breach of fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA).
[0200626]

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Plaintiffs Denied Standing for Lack of Demonstrated Injury.
Benefits Magazine; v54 no7 pp 56, 58 Jul 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Southern District of Texas dismisses the plaintiff plan participants' claims that the defendant cash balance plan offered lesser benefits than before the plan was converted from a defined benefit pension plan, because the plaintiffs failed to show injury to themselves and therefore lacked standing.
[0200624]

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Benefit Trends: The Multiemployer Retirement Plan and Landscape: Defined Benefit Plans.
Held, Justin; Benefits Magazine; v54 no6 pp 8-10 Jun 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : A majority of defined benefit (DB) multiemployer plans are in position for continued improvement in their funded condition, despite volatile financial, markets and less favorable demographics in recent years, the International Foundation's "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2005-2014)" shows.
[0200589]

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Quick Look: Multiemployer DB Landscape 2005-2014.
Benefits Magazine; v54 no6 p 11 Jun 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : Multiemployer defined benefit plan funding levels have rebounded after declining during the recession, according to "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2005-2014)." The report showed that the median market value funded percentage was 85.9% at the end of 2014, compared with a low of 67.6% in 2008.
[0200590]

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Court Enforces California Law Banning Discretionary Clauses in Insurance Contracts.
Benefits Magazine; v54 no5 p 54 May 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Northern District of California grants the plaintiff employee's motion for partial summary judgement to review her long-term disability case on a de novo basis due to an insufficient grant of discretionary authority in a summary plan description and a California prohibition on discretionary clauses in insurance contracts.
[0200556]

Link To Full Article
Washington Update: 2017 Annual Adjustments to Plan Penalties.
Benefits Magazine; v54 no5 p 58 May 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : On January 13, 2017, the Department Labor (DOL) formally increased the monetary penalty amounts for ERISA violations to adjust for inflation.
[0200560]

Link To Full Article
Benefit Trends: The Multiemployer Retirement Plan Landscape: DC Plans.
Held, Justin; Benefits Magazine; v54 no4 p 8 Apr 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : Despite volatile investment returns that were impacted by the biggest market collapse since the Great Depression, defined contribution (DC) account balances are steadily recovering according to "The Multiemployer Retirement Plan Landscape: A Ten Year Look (2005-2014)." This study is based on Form 5500 Annual Reports filed with the U.S. Department of Labor.
[0200519]

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Company Used Proper Valuation Date to Determine ESOP Account Value.
Benefits Magazine; v54 no4 p 52 Apr 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the Northern District of Illinois holds that the defendant sponsor of an employee stock ownership plan (ESOP) did not breach its fiduciary duties or intend to deceive plan participants when it used the most recent valuation date to determine the value of the plaintiff former employee's stock account.
[0200532]

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Quick Look: Multiemployer DC Plan Landscape.
Benefits Magazine; v54 no4 pp 23 Apr 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The 1,102 multiemployer defined contribution plans in the United States are steadily recovering from the Great Recession, according to "The Multiemployer Plan Retirement Plan Landscape: A Ten-Year Look (2005-2014)," the fourth annual benchmark from Horizon Actuarial Services, LLC and the International Foundation. Multiemployer DC plans had total assets of more than $130 billion in 2014 and covered more than 3.8 million participants and their beneficiaries.
[0200523]

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Summary Plan Description Governed Provisions of Welfare Plan.
Benefits Magazine; v54 no3 p 53 Mar 2017; journal article

Availability : International Foundation of Employee Benefit Plans
Abstract : The U.S. District Court for the District of Arizona grants the plaintiff software company and its welfare benefit plan an equitable lien against the defendant spouse's third-party settlement funds to reimburse the company's welfare benefit plan for medical expenses it paid on his behalf.
[0200495]

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