November 21, 2013

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PPA Document Restatements: Plan Early and Often

By Linda M. Wyttenbach, QPA, QKA At this year’s ASPPA Annual Conference, Adam C. Pozek, ERPA, QPA, QKA, QPFC, a partner with DWC ERISA Consultants, shared some great tips on preparing for the upcoming PPA restatements. Pozek suggested handling the upcoming PPA restatements in a fashion similar to the EGTRRA restatements. That way, practitioners can […]

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November 20, 2013

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Employee Benefits-IRS Says That Form 8822-B Must Be Used By A Retirement Plan To Report A Change In Identity Of Responsible Party

According to Employee Plans News, Issue 2013-8, November 18, 2013, beginning January 1, 2014, any entity with an EIN, such as a plan sponsor, must report a change in the identity of their plan’s responsible party on Form 8822-B, Change…

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November 18, 2013

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Gambling…Speculating….Investing…What Are You Doing?

Each week I discuss the dangers of speculating and gambling with your investment dollars. Many people I talk with believe that there is someone out there who can beat the market and earn superior even gaudy returns. At the same time these investors believe someone can tell them when to get into and out of […]

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November 18, 2013

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Employment-Second Circuit Rules That A Settlement Payment Constitutes Wages And Is Subject To FICA Tax.

In Gerstenbluth v. Credit Suisse Securities (USA) LLC, Docket No. 12-4125-cv (2nd Cir. 2012), the plaintiff, Chester Gerstenbluth ("Gerstenbluth"), sued his former employer, Credit Suisse Securities (USA) LLC ("Credit Suisse"), and the Internal Revenue Service, seeking a refund of Federal…

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November 14, 2013

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ERISA-Fourth Circuit Finds That Plan Does Not Give Plan Administrator Discretion, So De Novo Review Of Benefit Denial Is Required

In Cosey v. The Prudential Insurance Company of America, No. 12-2360 (4th Cir. 2013), the Court considered the question of whether a long-term disability plan, which is subject to ERISA, unambiguously confers discretionary decision-making authority on the plan administrator, who…

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November 12, 2013

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2014 Retirement Plan Limits

On October 31, 2013, the Internal Revenue Service (“IRS”) announced the cost-of-living adjustments (“COLA”) for the 2014 tax year. These COLA rates are used to adjust over 40 tax provisions from the standard deduction and personal exemption to retirement plan … read more

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November 12, 2013

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ERISA-Seventh Circuit Overturns Summary Judgment Finding No Breach Of Fiduciary Duty

In Killian v. Concert Health Plan, No. 11-1112 (7th Cir. 2013), Susan Killian died of cancer, despite an operation and other treatment. At the time of her diagnosis, Mrs. Killian was an employee of Royal Management Corporation ("Royal Management") and…

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November 11, 2013

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Efficient Markets Rock!!!

Every week I look for a subject to discuss what I have heard from clients/prospects. Some are questions, some are comments. This week I am going to discuss ‘The Efficient Market Hypothesis’ written by Dr. Eugene Fama in his Phd. Dissertation. Partly because Dr. Fama has won the Nobel Prize in Economics  for 2013 and […]

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November 11, 2013

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Employment-Fifth Circuit Upholds Dismissal of ADA and FMLA Claims

In Shirley v. Precision Castparts Corp., No. 12-20544 (5th Cir. 2013), the plaintiff, Bryan Shirley ("Shirley"), was appealing the district court’s summary judgment that dismissed his claims against the defendants under the Americans with Disabilities Act ("ADA") and the Family…

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November 7, 2013

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Employment-Sixth Circuit Defines Returning To Equivalent Position For FMLA Purposes

In Crawford v. JP Morgan Chase & Company, No. 12-3698 (6th Cir. 2013) (unpublished), the plaintiff, Paul Crawford ("Crawford"), was appealing the district court’s grant of summary judgment in favor of defendant, Chase Bank ("Chase"), on her Family and Medical…

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