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.


Benefit Trends: Multiemployer Retirement Plan Landscape: Defined Contribution Plans.
Held, Justin; Benefits Magazine; v55 no6 pp 8-9 Jun 2018; journal article

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Abstract : "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2006-2015)" shows that net case flows for defined contribution pension plans have shown modest improvement over the past decade and that the average account balance is holding steady. This study is based on Form 5500 Annual Reports filed with the U.S. Department of Labor.
[0200994]

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Washington Update: IRS Simplifies Computation of User Fees for Voluntary Correction Program.
Benefits Magazine; v55 no6 pp 71-72 Jun 2018; journal article

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Abstract : The Internal Revenue Service (IRS) published Revenue Procedure 2018-4 on January 2, 2018, simplifying the user fees charged for most Voluntary Correction Program (VCP) submissions.
[0201013]

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Benefit Trends: Multiemployer Retirement Plan Landscape: Defined Benefit Plans.
Held, Justin M.; Benefits Magazine; v55 no5 pp 8-10 May 2018; journal article

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Abstract : "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2006-2015)," an International Foundation report, is based on the Form 5500 reports filed with the U.S. Department of Labor by 1,365 multiemployer defined benefit pension plans.
[0200962]

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Quick Look: Multiemployer DB Plan Landscape 2006-2015.
Benefits Magazine; v55 no5 p 11 May 2018; journal article

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Abstract : Illustrates some of the findings in the International Foundation and Horizon Actuarial Services report "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2006-2015)."
[0200963]

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SPD and Trust Agreement Can Constitute a Written Plan Document Under ERISA When Analyzed Together.
Benefits Quarterly; v34 no2 p 62 2nd Qtr 2018; journal article

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Abstract : When analyzed together, a summary plan description (SPD) and a trust agreement can constitute a written plan document under the Employee Retirement Income Security Act (ERISA).
[0201025]

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SPDs Must Inform Plan Participants of Available Plan Benefits.
Benefits Quarterly; v34 no2 pp 63-64 2nd Qtr 2018; journal article

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Abstract : Summaries and amendments to summary plan descriptions (SPDs) violate the statutory and regulatory disclosure requirements of the Employee Retirement Income Security Act (ERISA) if they do not apprise the average plan participants of available plan benefits.
[0201026]

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The Underconnected: Many Plan Participants Lack Access and Skills to Fully Engage With Technology.
Wooton, Carey R.; Benefits Quarterly; v34 no2 pp 35-39 2nd Qtr 2018; journal article

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Abstract : For plan sponsors with a significant percentage of participants who do not have access to the technology taking over our benefit plans, there is a worry that these participants will be left behind. Participants in this position feel frustrated and angry because they have difficulties connecting to their benefits. Plan sponsors in this area also have a great deal of frustration as vendors implement no-paper systems, roll out automation and use other technology that makes participants more disconnected from their benefits. The more disconnected these participants become, the less they will appreciate the benefits provided by the employer.
[0201021]

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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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