LexisNexis® Legal Newsroom
Williams Mullen: Remedies for Plan Communications Errors Clarified

By Brydon M. DeWitt The Supreme Court of the United States recently clarified the relief available to plan participants and beneficiaries for inaccurate plan descriptions. Although it confirmed that plan documents control over conflicting plan descriptions, the Court also held that a participant...

David Pratt on Hybrid Pension Plans: Final/Proposed Regulations and Recent Judicial Decisions

David Pratt on Hybrid Pension Plan Final Regulations On October 19, 2010, Treasury and IRS issued final regulations on hybrid retirement plans. The regulations provide guidance on the changes made by the Pension Protection Act of 2006 (PPA), as amended by the Worker, Retiree, and Employer Recovery...

Too Big to Fail and Too Big to Pay: States, Their Public-Pension Bills, and the Constitution

By Debra Brubaker Burns* *Juris Doctor Candidate 2012, University of California, Hastings College of the Law; Doctor of Philosophy, University of Minnesota. Excerpt from Too Big to Fail and Too Big to Pay: States, Their Public-Pension Bills, and the Constitution , 39 Hastings Const. L.Q. 253 (Fall...

When a Promise Isn't a Promise: Public Employers' Ability to Alter Pension Plans of Retired Employees

By Gavin Reinke* * Candidate for Doctor of Jurisprudence, May 2012, Vanderbilt University Law School. Excerpt from When a Promise Isn't a Promise: Public Employers' Ability to Alter Pension Plans of Retired Employees, 64 Vand. L. Rev. 1673 (October 2011) I. Introduction The economic downturn...

The Public Employee Pension Transparency Act (2011 H.R. 567)

The economic downturn has impacted state and local government revenues, and the costs associated with maintaining defined benefit pension plans and unfunded liabilities are on the rise. Legislation has been drafted to address perceived problems with state and local public pensions to require them to...

Milgram v. Orthopedic Assocs. Defined Contribution Pension Plan

Do ERISA and the IRC prohibit enforcement of a money judgment against a defined contribution plan? In this Analysis, Barry L. Salkin of Olshan Grundman Frome Rosenzweig & Wolosky LLP addresses this and the other issues. He writes: SUMMARY : A defined contribution plan beneficiary sued under ERISA...

Pension and Postretirement Benefit Accounting

Pension and postretirement benefits represent a significant cost to employers. The Financial Accounting Standards Board has specified that postretirement benefits are a form of deferred compensation. FASB concluded that the obligation to provide postretirement benefits is incurred as the employee renders...