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Germany: Social Security Contributions

(Dec. 1, 2009) On November 11, 2009, the German Federal Minister for Labor and Social Issues promulgated the 2010 contribution rate for the statutory old-age pension system. (Bekanntmachung der Beitragssätze in der allgemeinen Rentenversicherung und der knappschaftlichen Rentenversicherung für das Jahr 2010, BUNDESGESETZBLATT I at 3705.) In 2010, the general contribution rate for old age […]

Ukraine: Pensions for Emigrants

(Nov. 9, 2009) On October 9, 2009, the Constitutional Court of Ukraine announced its decision to recognize selected provisions of articles 49 and 51 of the Law on Mandatory Retirement Insurance, articles that establish that citizens of Ukraine may continue to receive their retirement benefits abroad only if the country of their residence had signed […]

Japan: National Public Official Retirement Allowance Law Amendment

(Jan. 28, 2009) The National Public Official Retirement Allowance Law was amended by the Diet (Japan's parliament), and the new version was promulgated on December 26, 2008 (Law No. 95 of 2008). The amended Law enabled the government to enforce the return of a paid retirement allowance from a retired official if a scandal is […]

United States: 401(k) Plan Participants May Sue Plan Administrators under ERISA

(Mar. 2, 2008) The Supreme Court ruled on February 20 that a participant in a defined contribution pension plan, such as a 401(k) plan, may use a section of the Employee Retirement Income Security Act of 1974 (ERISA) to sue a plan administrator whose misconduct impaired the value of the participant's individual account. Section 502(a)(2) […]

European Union: Mandatory Retirement Age

(Nov. 2, 2007) On October 16, 2007, in a case involving an appeal by a Spanish manager who had filed a suit against his employer for forcing him to retire at the age of 65, the European Court of Justice held that the governments of the Member States of the European Union have the discretion […]