ERIC has submitted a letter to the Pension Benefit Guaranty Corporation (PBGC) in response to questions posed by the PBGC at the recent hearing on the reportable events proposed regulations. A special thanks to Michael Francese of Covington & Burling, who testified on behalf of ERIC and provided valuable input on the follow-up letter. This …
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ERIC testified before a Pension Benefit Guaranty Corporation hearing on the agency’s proposed regulations on reportable events requirements.
ERIC urged lawmakers to proceed with caution when considering any possible changes to the nation’s very successful voluntary employer-provided retirement system.
ERIC filed an amicus brief with the U.S. Court of Appeals urging it to uphold a district court ruling providing judicial deference to a plan administrator in interpreting the plan under ERISA.
ERIC urged the DOL to expand its safe harbor for electronic disclosure for employee benefit plans, arguing that the current standard is too restrictive.
ERIC urged Congress to pass as soon as possible real and significant temporary pension funding relief that allows plans sponsors additional time to fully fund their pension plans.
The United States Supreme Court earlier today (April 21) in Conkright v. Frommert reversed a Second Circuit Court of appeals decision and upheld the plan administrator’s deferential standard of review of provisions of a plan. The issue, and the case, is of major importance to major employers. In its 5-3 opinion (Justice Sotomayor did not participate) by …
Continue reading “U.S. Supreme Court Rules in Favor of Xerox on Deferential Standard of Review”
The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America’s major employers, earlier today submitted comments to the Pension Benefit Guaranty Corporation (PBGC) on the agency’s proposed rule to eliminate most of its automatic waivers and filing extensions currently permitted under existing reportable events regulations and guidance. The proposed regulations were published in …
In comments submitted today to the Department of Treasury and Internal Revenue Service, The ERISA Industry Committee (ERIC) welcomed the relief provided in proposed regulations allowing plan sponsors to suspend qualified non-elective contributions (QNECs) in safe harbor section 401(k) plans, but urged that the “substantial business hardship” requirement be dropped from the final regulation as …
