Pension & Benefits Reporter Index-Summary

SALARY REDUCTION SIMPLIFIED EMPLOYEE PENSION PLAN (SARSEP)

– Fix-it guide posted by IRS, 1948

SAME-SEX MARRIAGE

See also DOMESTIC PARTNERS
– Conflicting laws affect employee benefits, 1344
– Defense of Marriage Act, Analysis & Perspective, 1166
– Federal worker, spousal protections and benefits sought (D. Mass.), 584
– Legal approaches, Special Report, 1166
– State developments

– – Cal. employers face benefits issues, 1444
– – N.Y., recognition of out-of-state marriages upheld (N.Y. App. Div.), 184

SARSEP

See SALARY REDUCTION SIMPLIFIED EMPLOYEE PENSION PLAN (SARSEP)

SAVINGS

See RETIREMENT POLICY AND PLANNING

SEC

See SECURITIES AND EXCHANGE COMMISSION (SEC)

SECURITIES

– Accounting

See generally ACCOUNTING

– Arranged market timing agreements challenged, firm wins summary judgment on some claims (D. Md.), 95
– Distribution of stock and stock rights, In Brief, 1272
– Employer stock

See FIDUCIARY DUTY

– ESOPs

See EMPLOYEE STOCK OWNERSHIP PLANS (ESOPs)

– Examination of lending conflicts and transparency planned by SEC, 2275
– Flowshare accused of material misrepresentations about financial condition and business prospects (5th Cir.), 1575
– Goldman Sachs pass-through certifications, Miss. pension fund sues (S.D.N.Y.), 366
– Labor Dep't exemptions, 8; 171; 472; 543; 761; 954; 1132
– New Orleans retirement system alleges securities violations (S.D.N.Y.), 315
– Overhaul of financial regulatory system sought by SEC commissioner, 1343
– Pay-to-play

– – Cal., SEC probe widens, 1069
– – Campaign contributions and law firms, SEC probe sought, 1638
– – Criminal prosecution

See CRIMINAL PROSECUTION

– – N.Y., expanded probe, subpoenas announced by Atty. Gen., 1126; Caryle settlement announced, 1198
– – Rules planned by SEC, 1200; proposed, 1739
– – States may enact laws, 709

– Placement agents

– – Ban proposed by SEC, 2329
– – Unregistered placement agent pleads guilty to securities fraud (N.Y. Sup. Ct.), 1246

– Proxy voting scorecard, In Brief, 1949
– Stiefel Labs accused of undervaluing stock in buyback (S.D. Fla.), 1729
– Stock drop claims

See FIDUCIARY DUTY

– Subprime mortgage lending blamed for investor losses, lead plaintiff named (E.D. Wis.), 918
– Target-date funds under SEC scrutiny, 1130
– 12b-1 fees, staff recommendations sought by SEC chair, 1348
– Wells Fargo accused of securities fraud (S.D.N.Y.), 309

SECURITIES AND EXCHANGE COMMISSION (SEC)

– Investor group forms panels on education, protection, governance, and voting, 2179
– Securities

See SECURITIES

– State and local fund execs want independent SEC, 1268
– Stock options

See STOCK OPTIONS

SEVERANCE BENEFITS

– Ball-bearing firm ex-CFO, benefits denial upheld (2nd Cir.), 1095
– CA worker accused of unproven theft entitled to severance (S.D.N.Y.), 426
– Celanese America compensation did not include nonsalary benefits (4th Cir.), 1829
– Champion did not breach employment agreement to provide severance benefits and allow exec to work in de minimis position after termination until equity compensation vested (4th Cir.), 18
– COBRA subsidies, advice offered, 892
– Delta voluntary buyout accepted, 396
– Dow Jones, exec terminated before buyout denied benefits (S.D.N.Y.), 258
– ERISA, severance pay claim preempted (N.D. Cal.), 1156
– EU, policies on bonuses and severance under scrutiny, 1068
– Financial crisis, pre-bailout packages surveyed, 332
– GM service credits reduced, claim preempted (W.D. Okla.), 917
– Honda offers voluntary separation incentive packages, 1071
– Kimberly-Clark severance plan amendments upheld (S.D. Miss.), 972
– Lilly denial of severance benefits after misconduct upheld (3rd Cir.), 971
– Outplacement new focus of firms, 952
– Pharmacia worker demoted after Pfizer takeover, benefits improperly denied (D.N.J.), 1456
– Recession causes benefit restrictions, 1197
– Schwab worker offered comparable job, benefits denied (S.D.N.Y.), 1615
– Transfer to purchasing firm, benefit denial upheld (W.D. Pa.), 320
– Union signed release waiving claims, severance denied (E.D. Mich.), 511
– Wachovia, former worker seeking benefits may conduct discovery over bias (D. Colo.), 1720

SICK LEAVE

– CRS reports, 888
– DeLauro (D-Conn) and Kennedy (D-Mass) plan paid leave bill, 1229; introduced, see LEGISLATION, FEDERAL, HR 2460, S 1152
– Federal employees

See LEGISLATION, FEDERAL, HR 958, HR 2990

SMALL BUSINESSES

– Cuts in health benefits reported, 1499
– ERISA exemption requires employee count (S.D. Fla.), 1979
– Health care reform, hearings held on coverage costs, 2433
– Health reform

– – Financing may hurt, 1600
– – Positive effect predicted, 1818
– – Risk pooling and competitive insurance market pushed by Democrats, 1817

– Lincoln (D-Ark) offers small business incentives for health insurance, 1142
– Mandates, small business waivers considered, 1358
– Mass. governor seeks authority over health insurance rates, 2435
– Missed contribution reporting, In Brief, 401
– Rockefeller (D-WVa) seeks probe of CIGNA practices, 1863
– Satisfaction with health insurance surveyed, 848
– Taxation

– – Estate tax reform, small business may oppose White House proposal, 1230
– – Simplification pushed by small business reps, 1128

– Velazquez (D-NY) plans to reintroduce CHOICE bill, 303; introduced, see LEGISLATION, FEDERAL, HR 850

SOCIAL SECURITY

– Ed. Note: This heading refers to Social Security benefits and trust fund generally. For information on reform, see SOCIAL SECURITY REFORM.
– Bank of America can tap into accounts to pay fees for insufficient funds and overdrafts (Cal.), 1389
– “Claim and suspend” provision, greater use urged, 1259
– COLAs, CBO projects none for 2010 or 2011, 1995; SSA official says adjustment unlikely in 2010, 2269; CRS reports, In Brief, 2429
– Cuts

See LEGISLATION, FEDERAL, HR 3631

– Disability benefits

See DISABILITY BENEFITS

– Earnings penalty

See LEGISLATION, FEDERAL, HR 2021

– Family leave should be added to program, report says, 1429
– Financial crisis, payroll tax holiday proposal criticized, 170
– Future costs projected through 2043, 1898
– FY2010 budget criticized by GOP, 465
– Low-income taxpayers, IRS agrees to screen, 1129
– Main income source for people over 65, 1345
– Maximum earnings amount set for 2010, 2370
– Online retirement application, In Brief, 65
– Taxing benefits, In Brief, 1691; tax hikes preferred over benefit cuts, 1898
– Transfers of Social Security and Railroad Retirement Benefits, In Brief, 230
– Trust fund

– – CRS reports, In Brief, 1999
– – Equitable solutions to trust fund insolvency, timetable shrinking, 1205
– – Public works, use of trust fund to finance proposed, 225
– – Recession affects trust fund, 1204; effect on long-term solvency at issue, 1204

– Trustee nomination, In Brief, 2385

SOCIAL SECURITY ADMINISTRATION (SSA)

– Deputy commissioner named, In Brief, 2232
– Field office understaffing, SSA needs plan to address retiring baby boomers, 337

SOCIAL SECURITY REFORM

– Earnings cap hike urged in report, 1119
– Entitlements not the problem, panel says, 394
– Higher contributions sought by White House, 171
– Hoyer (D-Md) pushes bipartisanship, 1117
– Privatization opposed by White House, 171
– Reducing benefits urged for high-income retirees who receive tax breaks, 390
– Strengthening system, Senate panel hears testimony, 1483
– Work incentives, progressive taxation may hurt, 59

SOUTH CAROLINA

– State and local government plans, governor seeks to use stimulus funds for pensions, 621

SPECIAL REPORTS

– COBRA, N.Y. expansion bill, 2030
– Cost controls and collective bargaining, employers surveyed, 726
– Deferred compensation income inclusion rules annotated, 979
– Executive compensation

– – Regulatory and legislative action, 2148
– – Stimulus bill, 403

– FBAR reporting delayed by IRS, 1879
– Fiduciary duty, Madoff liability exposure, 348
– §403(b) plan 2009 enforcement rules, 927
– Health care reform, employer groups nervous, 1622
– Mutual fund fee negotiation, 922
– Qualified plan amendment timing, 474
– Reasonable compensation, 932
– Same-sex marriage, 1166

SPOUSES

– Annuities paid to ex-wife of deceased participant, ERISA does not govern waiver issue (2nd Cir.), 1772
– Calculation of benefits for surviving spouse, use of 1976 salary upheld (6th Cir.), 1449
– Erroneously paid death benefits, ex-wife must repay engineers pension fund (W.D. Mich.), 317
– Fiduciary breach, widow has standing to sue over husband's request for distribution (D. Md.), 2255
– §401(k) administrator improperly paid benefits to children after learning companion sought validation of common law marriage (10th Cir.), 1455
– Life insurance

See LIFE INSURANCE

– Overpayments of medical benefits to ex-wife, no recovery (N.D.N.Y.), 1929
– Prenuptial pact not valid waiver of pension benefits under ERISA (D.N.J.), 2403
– QDROs

See QUALIFIED DOMESTIC RELATIONS ORDERS (QDROs)

– Qualified joint and survivor annuity denied to widow whose husband elected straight life annuity (W.D.N.Y.), 788
– Same-sex marriage

See SAME-SEX MARRIAGE

– Teacher's pension is marital asset (Me.), 436

STANDING

– CNF plan termination, ex-workers lack standing to sue over funding, 702
– Death benefits (W.D. Okla.), In Brief, 1247
– Employer stock (2nd Cir.), In Brief, 20
– ERISA

– – AT&T workers transferred post-retirement to Lucent lack standing to sue under ERISA (10th Cir.), 643
– – J.P. Morgan who took full distribution has standing to sue for notice violations (S.D.N.Y.), 80; petition for immediate appeal denied, 653
– – Kodak worker who took lump-sum distribution lacks standing (D.N.J.), 777

– ESOP, cashed out workers have standing to sue fiduciaries over inflated stock price (D.N.D.), 576
– Fiduciary duty

– – Medtronic worker who profited from inflated stock lacks standing (D. Minn.), 1310
– – Moneygram cashed-out workers have standing sue for losses (D. Minn.), 774

– GM, ADA challenge to benefit reduction, no standing (U.S., rev den), 1613
– Kodak, former workers lack standing to sue over alleged inducement to accept distributions (D.N.J.), 1928
– Paper firm retirees without vested benefits have standing to challenge termination of health plan (9th Cir.), 1301
– Retiree health plan

See RETIREE HEALTH INSURANCE

STATE AND LOCAL GOVERNMENT PLANS

– California

– – Asset allocation, top-to-bottom review planned by CalPERS, 400
– – Credit rating firms sued by CalPERS (Cal. Super. Ct.), 1728
– – Cuts proposed by governor, 1374
– – Falsified foreign currency exchange prices, State Street Bank defrauded pension funds, 2452
– – Hedge funds, CalPERS plans to restructure existing relationships, 833
– – Imperial County sues JP Morgan over risky investments (S.D.N.Y.), 857
– – Placement agents, fees under review at CalPERS, 2380
– – Premium hikes estimated for 2010 for CalPERS, 1504
– – Reduced payments adopted by CalPERS, 1487
– – Risk sharing pilot program planned, 1083
– – Soliciting bids for lower cost health plans, governor proposes, 78
– – Unfunded retiree health and dental liabilities up, 494

– Colo. annual leave transfer program expansion bill signed, 890
– Compared to private plans, 540
– Conn., Fairfield plans sue over Madoff-related losses (Conn. Super. Ct.), 567
– D.C. worker pension records, In Brief, 1490
– Defined benefit plans called “automatic stabilizers,” 456
– Firefighters

See FIREFIGHTERS

– §401(k) plans, states advised to avoid, 460
– Idaho, health coverage to be terminated for retirees over 65, House approves bill, 495; bill passed, 849; signed, 966
– Iowa panel to study funding, 1641
– La., New Orleans retirement system alleges securities violations (S.D.N.Y.), 315
– Md., Baltimore County, higher contributions from older new hires no violation (D. Md.), 249
– Mass. governor pushes reform, In Brief, 295
– Mich., Detroit city worker sues over bad pension investments (Mich. Cir. Ct.), 1154
– Nev. panel urges benefit changes, 61
– N.H. layoffs and substantial health coverage revisions proposed by governor, 356
– New Jersey

– – Ex-Lehman execs sued over pension losses (N.J. Super. Ct.), 710
– – Postponing contributions, bill signed, 683
– – PricewaterhouseCoopers settles securities fraud suit (D.N.H.), 660
– – Wage freeze and pension cuts urged by governor, 621; tentative pact to freeze wages reached, 1354; will not affect pensions, 1640

– N.M., increasing worker contribution, bill passed, 834; challenged (N.M. Dist Ct.), 1519
– New York

– – Borrowing from state, proposed bill rejected, 1684
– – Excess premiums collected, 2247
– – Fund losses reported for 2008-09, 1351
– – Large pension funds could be willing to invest in government plan, 399
– – Lobbying by investment advisors banned, 2228
– – N.Y.C. budget calls for pension and health benefit cuts, 292; tentative pact reached with union, 1372
– – Paid agents, ban proposed, 1004; may be banned from mutual fund decisions, 1116
– – Private equity fund returns $2M to Common Retirement Fund, 1590
– – Retiree health benefits task force appointed, 562
– – Supervision of state pension funds, revisions proposed, 2381
– – United HealthCare accused of overcharging through “risk charge,” 356

– N.C., furloughs and pay cuts ordered, 1071
– Ohio

– – AIG, fraud claims against settled (S.D.N.Y.), 583
– – “Sacrifice” budget calls for wage cuts, health benefit contributions, 293

– Online tool offers detailed data, 1266
– Pennsylvania

– – Cholesterol drug makers accused of deceptive promotion (E.D. Pa.), 1462
– – Municipal pension relief approved, 1996; signed, 229
– – Philadelphia wage freeze proposed, 760
– – Retiree plan assets down, 391
– – Wash. County Redevelopment Authority plan is exempt from ERISA (3rd Cir.), 1770

– Police

See LAW ENFORCEMENT PERSONNEL

– Rhode Island

– – Providence mayor seeks union concessions, 1070
– – State workers shutdown days, In Brief, 1998

– §414(d) remedial amendment cycles, IRS issues revenue procedure, 1895
– S.C. governor seeks to use stimulus funds for pensions, 621
– Teachers

See TEACHERS

– Tex., county employee trust premium exempt from taxation, 2099
– Trends

– – Actuarial funding ratios surveyed, 2415
– – Contributions by workers continue despite economic downturn, 950
– – Delayed retirement increasing, 1267
– – Generous benefits, state and local governments cannot sustain, report says, 1699
– – Increasing deficits raise concerns, 885
– – Payouts for retirees reported for 2007, 61
– – Recession strategies, In Brief, 1999
– – Restructuring reported, 1851

– W.Va. tax sale did not end PBGC lien on warehouse (N.D. W.Va.), 2445

STATE AND LOCAL TAXES

– Mo. exemptions for retirement benefits, In Brief, 1749
– N.D. long-term care insurance tax credit, bill signed, 1084
– Tenn., HMO premium tax increased proposed, 771
– Tex., county employee trust premium exempt from taxation, 2099
– Withholding and nonresidents stock options, Analysis & Perspective, 803

STATE CHILDREN'S HEALTH INSURANCE PROGRAM (SCHIP)

– “Crowd out” of private insurance, GAO says CMS needs more data, 768
– CRS reports, In Brief, 417
– Grants released, In Brief, 1655
– Notice, guidance offered by CMS and Labor Dep't, 1287
– Reauthorization

See LEGISLATION, FEDERAL, HR 2

– Reform limits, SCHIP illustrates, report says, 696
– White House tells HHS to withdraw tightened eligibility policy, 299
– Working group nominations sought, 1079

STATUTES OF LIMITATIONS

– Actuarial negligence claim adjacent consulting firms time-barred (6th Cir.), 432
– Age bias, El Paso Corp. cash balance plan, ADEA and ERISA claims against time-barred (D. Colo.), 181
– Disability benefits

– – Contractual limitations period, claim time-barred (6th Cir.), 2012
– – Contractual limitations period upheld (10th Cir.), 2307
– – Miscalculation of benefits, claim time-barred (6th Cir.), 2069
– – Summary plan description limitations period upheld (9th Cir.), 2116

– DuPont, ex-worker may not seek additional benefits (D. Del.), 717
– ERISA

– – Disability plan participants claim for penalties time-barred (4th Cir.), 187
– – Mich. no-fault auto insurer bound by contractual 2-year limitations period (E.D. Mich.), 262
– – 9/11 victim's mother's claim over survivor benefits time-barred (D.N.J.), 2404
– – Salesman's fiduciary breach claim time-barred (E.D. Va.), 1777

– Fiduciary duty

– – Bank of N.Y. ex-worker time-barred, 1454
– – ERISA, salesman's fiduciary breach claim time-barred (E.D. Va.), 1777
– – ESOP, Labor Dep't not time-barred from pursuing breach claim against CEO (E.D. Cal.), 367
– – Lucent workers breach claims over severance not time-barred (D. Mass.), 1454
– – Museum workers breach claims time-barred (D.D.C.), 1974
– – Owens Corning workers breach claim time-barred (N.D. Ohio), 16

– Fiduciary duty, First Third Bancorp workers claim time-barred (S.D. Ohio), 2351
– Health staffing agency worker classification claim time-barred (E.D. Pa.), 1663
– J.P. Morgan ex-worker barred from challenging notice of conversion from defined benefit plan to cash balance plan (S.D.N.Y.), 969
– Ledbetter bill

See LEGISLATION, FEDERAL, S 181

– Morgan Stanley, police department workers fraud and misrepresentation claims time-barred (Vt.), 1871
– Ponzi scheme losses, claims time-barred (4th Cir.), 501
– PriceWaterhouseCoopers, proof of loss triggers limitations period (2nd Cir.), 1656
– Proof of loss, benefit claim time-barred (N.D.N.Y.), 1872
– Reporter time-barred from claiming employee status (D. Or.), 1158

STEEL INDUSTRY

– AK Steel

– – Retiree health benefits changes challenged (S.D. Ohio), 1571
– – VEBA, settlement creating approved (6th Cir.), 907
– – Whipsaw calculation not used

– – – Attorneys' fees awarded (S.D. Ohio), 2067
– – – Class action proposed by retiree (S.D. Ohio), 1658
– – – Sponsor illegally forfeited benefits (U.S., rev den), 138

– BEKO must pay fund for every hour it pays employees (D. Utah), 1314
– Bridgestone pact ratified, 2334
– Evraz Rocky Mountain Steel pact ratified, 2279
– LaSalle Steel, laid-off employee properly denied pension rights under “Rule of 65” (N.D. Ind.), 919
– LTV Steel bankruptcy, workers claim for benefits denied priority status (6th Cir.), 309
– Unclaimed property funds, shareholder in dispute with PBGC (W.D. Mich.), 1976

STOCK

See SECURITIES; STOCK OPTIONS

STOCK DROP CLAIMS

See FIDUCIARY DUTY

STOCK OPTIONS

– Accounting guidance, international panel researching, 1687
– Backdating

– – KB Homes, ex-CEO indicted (C.D. Cal.), 586
– – Monster Worldwide, former CEO convicted (S.D.N.Y.), 1245; sentenced, 2069
– – Pediatrix Medical settles charges (S.D. Fla.), 586
– – Performance-based compensation, IRS offers guidance, 1803
– – Research in Motion, charges settled (D.D.C.), 428
– – Take-Two settles charges (S.D.N.Y.), 874; former execs settle charges (S.D.N.Y.), 1873
– – UnitedHealth workers fiduciary breach claims settled (D. Minn.), 1976

– Chevron worker who claimed constructive discharge denied enhanced benefits (5th Cir.), 1382
– Citigroup forfeiting stock of workers who elected for capital accumulation plan

– – Conn., no violation (Conn.), 13
– – Mass., no violation (Mass.), 314

– “Covered writing,” Analysis & Perspective, 1666
– Google offers option exchange, 163
– Italy, taxing for workers living out of country, rules clarified, 890
– Levy by IRS, Special Report, 1935
– Performance shares more common, 2331
– Staples, exercise of options forfeited (1st Cir.), 422
– Statutory stock options, In Brief, 1418
– Tax deductions

See LEGISLATION, FEDERAL, S 1491

– TruePosition cash-out offer revoked, summary judgment issued for firm (E.D. Pa.), 795
– U.S. Transformer stock plan not covered by ERISA (D. Idaho), 1662
– Wells Fargo ex-exec cannot exempt stock options from bankruptcy, 870
– Withholding and nonresidents stock options, Analysis & Perspective, 803

SUBROGATION

– ERISA preempts Ky. law (W.D. Ky.), In Brief, 515
– Underinsured motorist policy, participant not required to reimburse health plan (D. Or.), 715

SUDAN

– Fla. terror-free investment bill signed, 1352

SUPREME COURT, U.S.

– AT&T improperly calculated retirement benefits based on pre-Pregnancy Discrimination Act system (brief filed), 433; calculation of retirement benefits upheld (dec), 1299
– Chrysler bankruptcy (stay lifted), 1436
– Court review 2008, 23
– Delinquent contributions, General Materials obligation ended with end of collective bargaining agreement (rev den), 858
– Disability benefits

– – Coca-Cola, offset of benefits to account for receipt of Social Security benefits upheld (rev den), 912
– – Textron worker not entitled to jury trial of claim that company misinformed him about plan coverage (rev den), 1096

– DuPont must arbitrate with union (rev den), 259
– ERISA

– – Arbitration still required, ERISA violated by agreement (rev den), 2353
– – Internal guidelines of health insurer, disclosure required (rev den), 2350
– – Notice violation, long-term disability plan participant improperly awarded benefits (rev den), 1381
– – Reduction in benefits due to breach, administrator of life insurance plan has no remedy (U.S., rev den), 2353
– – S.F., employer insurance contribution mandate not preempted by ERISA, restaurants seek stay (rev sought), 706; response filed, 783; stay den, 851; (rev sought), 1438; employer groups urge review, 1714; brief filed, 2009; Solicitor Gen. brief filed, 2349
– – Whipsaw calculation not used, plan sponsor illegally forfeited benefits (rev den), 138

– FEHBP, BCBS coverage denial, claim not preempted (rev grant), 2398
– QDROs, named beneficiary, ex-wife entitled to benefits she waived in divorce agreement (dec), 242; attorneys comment, 497; discussed at conference, 573; implications discussed at audioconference, 645
– RICO

– – Physician's claim over alleged fraudulent benefits explanation dismissed (rev den), 2354

– Sotomayor rulings scrutinized, 1294; has broad ERISA experience, 1294; hearings scheduled, 1412
– Xerox worker to get lump sum representing difference in benefits after rehiring (brief sought), 572; (brief filed), 1446; (rev grant), 1605; (brief filed), 2249

SWITZERLAND

– Bonus pay limits, banking regulator proposes, 1354; bankers criticize proposal, 1408
– Tax exchange negotiations planned by U.S., 1131; protocol signed, 2233