TPR Suspends Pension Trustee over Fraud Investigation
Optimum Retirement Benefits Plan's Gordon Craig is being investigated by organized crime unit.
Regulation
IRS Proposes Regulations to Soften Endowment Tax Hit
Clarification of 1.4% excise tax could reduce amount paid by universities.
UK Initiates Social Impact Investment Drive
Initiative aims to make ESG investing ‘business as usual.’
Scottish Widows Calls for Removal of Auto Enrollment Minimum
Insurance firm says £10,000 threshold ‘an unfair barrier’ for low-paid workers.
UK Retirees Face Pension Cuts Due to Overpayment Errors
Massive data-checking exercise finds mistakes dating back 40 years.
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.