Solicitation for Cooperative Agreements Was a Procurement Action

The Court of Federal Claims had jurisdiction over a post-award protest of a “request for applications” for online training courses because the solicitation was a procurement action under the Tucker Act. The Occupational Safety and Health Administration issued the RFA to authorize qualified vendors to provide online outreach training program courses. Successful applicants would be […]

Employees readjusting retirement expectations, Transamerica survey reveals

Employees are adjusting their expectations of retirement, with a majority intending to work past age 65, according to the 13th Annual Transamerica Retirement Survey released by the non-profit Transamerica Center for Retirement Studies. The survey was conducted online within the United States by Harris Interactive on behalf of Transamerica Center for Retirement Studies between January […]

IRS issues proposed amendments to regulations defining “substantial risk of forfeiture”

The IRS has issued proposed amendments to regulations defining “substantial risk of forfeiture” involving property transferred in connection with the performance of services under Code Sec. 83. The proposed regulations would apply as of January 1, 2013 and would apply to property transferred on or after that date. However, taxpayers may rely on the proposed […]

Pension & Benefits NetNews – June 19, 2012

NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe hr.cch.com Resources Online Store Customer Service Home Page Products & Training News & Information About Links in this Newsletter To access the IntelliConnect™ full text documents you must be a subscriber to the Pension Plan Guide or Employment Benefits Management. Links within […]

401(k) plan that covered employees of multiple unrelated employers was not single “multiple employer” plan

A 401(k) plan that covered employees of multiple unrelated employers was not a single “multiple employer” plan for purposes of ERISA, according to an EBSA advisory opinion letter. Instead, the plan was an arrangement under which each participating employer established and maintained a separate employee benefit plan for its employees. EBSA determined that the plan […]

Spencer’s Benefits Reports NetNews – June 15, 2012

About this Newsletter The Spencer’s Benefits Reports is a summary of the week’s news items posted in the WHAT’S NEW pages of Spencer’s Benefits Reports Online. For questions regarding this email service, contact Customer Service at (800)449-9525. NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe hr.cch.com Resources Online Store Customer […]

Elimination of early retirement subsidy barred under plan’s definition of accrued benefit

A plan amendment that eliminated a monthly early retirement supplement violated ERISA’s anti-cutback rule because the plan language specifically included the supplement in its definition of accrued benefit, the U.S. Court of Appeals in Richmond (CA-4) has ruled. Accrued benefit definition A pension plan defined “accrued benefit” to be a retiree’s pension, less a defined […]

Presumption of prudence continues to shield fiduciaries from liability following drop in value of employer stock

Plan fiduciaries did not breach their ERISA duties by retaining company stock as an investment option, despite a significant drop in the value of the stock price, the U.S. Court of Appeals in New York (CA-2) has ruled. The mere decline in the value of the company’s stock price did not indicate that the company […]

Major Contract Awards

Missile Defense Agency Awards $2 Billion Contract for Interceptors. The Missile Defense Agency is announcing the award of a sole-source letter contract to Lockheed Martin Space Systems Co. (LMSSC), Sunnyvale, Calif., as an undefinitized contract action (UCA) at a total not-to-exceed price of $2,023,590,000. This award is made under the existing Terminal High Altitude Area Defense […]

NASA Issues Two Procurement Notices

The National Aeronautics and Space Administration has issued Procurement Notices 04-70 and 04-71. PN 04-70 reflects NASA’s March 27, 2012, final rule (¶70,047.207) that updated the Award Fee for Service Contracts clause (NFS 1852.216-76) to clarify that the amount of award fee held in reserve, if any, shall not exceed $100,000 for the contract, and […]