UK Retirees Face Pension Cuts Due to Overpayment Errors
Massive data-checking exercise finds mistakes dating back 40 years.
Regulation
Trade Association Launches European Pension Institute
Newly formed organization aims to address gap and promote personal pensions.
SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders
Firm ordered to pay nearly $16 million for ‘deceiving’ customers.
Recruitment Firm Staff Posed as Temps to Opt Workers Out of Pensions
TPR says the company tried to deny workers’ pensions to avoid benefits payments.
SEC Fines DeVere $8 Million over Conflicts of Interest
Regulator alleges investment firm defrauded hundreds of clients.
Minnesota Signs Bipartisan Pension Reform into Law
New law eliminates $3.4 billion in liabilities to stabilize state’s public pension plans.
Rhode Island Supreme Court Upholds Pension Cuts
Court rules that suspension of cost-of-living adjustments was ‘fair.’
Ireland Launches Public Consultation on State Pension
Government seeks advice in helping design new Total Contributions Approach.
McKesson to Close Long-Frozen US DB Plan
Company is planning $55 million contribution to its worldwide pension plans in fiscal 2019.
Failed Plan Members May Receive Only Fraction of PBGC Minimum
PBGC says it would only be able to pay less than one-eighth the minimum benefit.
Former Cliffs Natural Resources Workers to Recover 60% of Pension Loss
Settlement calls for the return of C$18 million of C$28 million shortfall.
British Court Sides with TPR to Compel Company to Bolster Pension Plan
Upper Tribunal approves regulator’s power to require parent ITV to aid failed subsidiary Box Clever’s pension.
NYC Comptroller Calls for Exxon Mobil Board Disclosure
Scott Stringer is urging shareholders to vote for board transparency resolution.
Puerto Rico’s Governor, Oversight Board Find Common Ground on Economic Provisions
Sides still disagree on troubled public pension reform system.
High Court Ruling Fails to Settle Overpayment Recovery Issue
Decision offers some clarity, but adds confusion for pension trustees collecting overpayments.