Pensions
Uber to Begin Rolling Out Pensions to 70,000 UK Drivers
The ride-sharing firm’s plan will be provided by NOW: Pensions and managed by Adecco.
Tag: Supreme Court
Regulation
Supreme Court to Hear ERISA Excessive Fee Case
The lawsuit seeks to define what ‘care, skill, prudence, and diligence’ really mean for fiduciaries.
Pensions
Teamsters Pension Asks Supreme Court to Reverse PE Firm Withdrawal Ruling
Pension says circuit court ruling ‘provides a blueprint’ for private equity funds to ‘escape withdrawal liability.’
Market Moves
The Market’s Reaction to a Delayed Vote Conclusion? Not Good, Says UBS
The 2000 ballot-count mess teaches that stocks will slump and volatility will rise. But there’s a bright side.
Regulation
Oregon Supreme Court Upholds Pension Benefit Cuts
Unanimous ruling finds that an employer is not prevented from changing the terms of future work.
Risk
Supreme Court Reigns in SEC’s Disgorgement Powers
Questions arise: Should disgorgement fees exempt the marketing costs of fraudsters?
Market Moves
Don’t Get All Excited by the Green Light for PE in 401(k)s
Private equity isn’t always a market beater and charges high fees. Besides, it’ll be confined to larger investment pools, like target-date funds, which limits its impact.
Newsmakers
Supreme Court Rules Pensioners in Fully Funded Plans Can’t Serve ERISA Suits
Plaintiffs charging mismanagement of funds would have received the same fixed payment regardless of investment outcomes, the ruling said.
Pensions
California Pension Spiking Case Nears End in Court Showdown
Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
Risk
TPR Gives Broadcaster Six Months to Fund Collapsed Pension
Eight-year battle with pension regulator ended after Supreme Court rejected final challenge.
Asset Management Culture
US Supreme Court Declines to Review Cranston Pension Case
Rhode Island city had been sued for suspending police, firefighter COLAs.
Court Says Pension Withdrawal Liability Can’t Be Decelerated
Ruling likely to make trustees shy away from payment plans for defaulted employers.
Game Changer? Challenge to Pension Plan Could Bring More Lawsuits
If the Supreme Court backs beneficiaries over US Bank’s overfunded program, look for more actions against company retirement funds.
UK Supreme Court Pension Ruling to Apply to All Public Sector Plans
Government estimates rectifying age discrimination will add approximately £4 billion per year to plan liabilities from 2015.
Supreme Court Declines to Hear Two Pension Fund Cases
Lower court rulings involving an automotive, mineworkers’ pensions maintained.