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February 27, 2010
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Wisconsin Annuity News

 

Three Samsung Executives Agree to Plead Guilty, Serve Jail Time

Three executives from Samsung Electronics Company Ltd., the world's largest manufacturer of a common computer component called dynamic random access memory (DRAM), have agreed to plead guilty and to serve jail time in the United States for participating in a global conspiracy to fix DRAM prices, the Department of Justice announced.

Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigation. It is the second largest amount of fines ever collected by the Department of Justice from a single price-fixing conspiracy.

Each executive also has agreed to pay a $250,000 fine and to cooperate in the Antitrust Division's ongoing investigation of the DRAM industry. In agreeing to plead guilty, the executives have agreed not to contest the jurisdiction of the United States, so extradition will not be required. The pleas and sentences are subject to the approval of the U.S. District Court in San Francisco.

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Did You Know?    
 
 
Employee Retirement Income Security Act (ERISA)
The federal law that establishes the basic requirements for employee benefit plans. The authority for administering and enforcing ERISA is divided among three federal agencies: The Internal Revenue Service (IRS), the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC).

 


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Latest news about Annuity cases in Wisconsin and nationwide:

In California, Awards Granted For The Life And Annuity Consumer Protection Program
SACRAMENTO – Insurance Commissioner John Garamendi announced today a total award of $500,000 in consumer protection grants to four District Attorne...
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Treasury and IRS Issue Guidance on Source of Income
Certain payments received under an annuity contract and amounts withdrawn from the cash value of a life insurance contract give rise to inco...
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OTR Issues Advisory on Survivor Benefits


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Annuity Lawyers.com Terms

 


Today's Terms

Accidental Dismemberment

Definition:
Bodily injuries sustained solely through violent, external and accidental means, and as a direct result of the bodily injuries, independently of all other causes, and within 90 days afterwards, you lose your limb or eyesight.

Option C

Definition:
Coverage, to insure your spouse and eligible child(ren), that you can elect in addition to Basic insurance. You can elect up to 5 multiples of the coverage amounts (each multiple equals $5,000 for a spouse and $2,500 for an eligible child). Also called family optional insurance.

Age Multiplication Factor

Definition:
A factor used to determine the extra amount of Basic insurance payable at the time of your death, if you die before age 45 (also referred to as the "extra benefit").

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Annuity Law Resources

 


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Annuity Law Hot Topics

 
Topics Related to Annuity:

  • Client Manipulation
  • Providing False Information
  • Lying to Auditors
  • Unauthorized Transactions
  • Breach of Fiduciary Duty
  • Broker Embezzlement

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Wisconsin Annuity-Law Attorney

 
If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

  • Appleton
  • Beloit
  • Burlington
  • Chippewa Falls
  • De Pere
  • Eau Claire
  • Fond Du Lac
  • Franklin
  • Green Bay
  • Janesville
  • Kenosha
  • La Crosse
  • Madison
  • Manitowoc
  • Marshfield
  • Menomonee Falls
  • Milwaukee
  • Neenah
  • New Berlin
  • Oak Creek
  • Oconomowoc
  • Oshkosh
  • Racine
  • Sheboygan
  • Stevens Point
  • Sun Prairie
  • Superior
  • Waukesha
  • Wausau
  • West Bend
  • Wisconsin Rapids


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