Taxpayers Association Seeks Supreme Court Review of ERISA Pre-emption Case
The plaintiffs in the case believe California should not be permitted to operate the CalSavers Retirement Savings Program on the grounds that its establishment violates federal ERISA pre-emption rules—claims rejected by both a district and an appellate court.
Settlement in Dignity Health Church Plan Lawsuit Gets Preliminary Approval
Given a third shot, a judge found the parties finally got the settlement terms right.
Cumulus Media Granted Summary Judgment in 401(k) Excessive Fee Suit
A court found a separation agreement signed by the plaintiff when his employment with the company terminated precludes the lawsuit.
Advocacy Continues for Retirement-Related Provisions in Budget Draft, Other Bills
Industry professionals who work with lawmakers in Washington say they remain hopeful that retirement security issues will be addressed in the federal government’s budget for fiscal year 2022.
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.
Aon Triumphs in ERISA Suit Over Lowe’s Investments
A judge determined the firm didn’t breach its ERISA fiduciary duties when it encouraged Lowe’s to move more than a billion dollars in plan assets to one of Aon’s own investment funds.
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’
Defendants Win Dismissal of TriHealth ERISA Dispute
The ruling states that the court does not believe hearing oral arguments would be helpful in resolving the parties’ cross motions, and it concludes the facts as pled do not raise a ‘plausible inference’ that a fiduciary breach occurred.
Court Rebuffs DOL’s ESOP Valuation Case Against Engineering Firm
One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation case.
PANC 2021: Investigation Lessons Learned From Experience
6th Circuit Ruling Might Increase Withdrawing Employer Risk for Multiemployer Plans
The appellate court has rejected the use of the "Segal Blend" when calculating withdrawal liability.
Summary Judgment Order Favors AT&T in ERISA Dispute
In granting the defense’s motion for summary judgment, the court brings to a close one of the longest-running and most complicated ERISA lawsuits.
415 Limit Applies in Aggregate When 403(b) Participant Sponsors Another Plan
The IRS addresses how to apply the annual additions limitation in an updated Issue Snapshot.