The plaintiff filed a first amended complaint on October 23, trying to correct pleading errors after Abbott was dismissed from the lawsuit.
The sense of déjà vu associated with the filing of a finalized fiduciary rule by the Department of Labor is palpable, but one ERISA expert says this version could actually stick—for good—despite the pending change in administration.
Plaintiffs accused the profit sharing plan sponsor of investing too conservatively and applying an inappropriate one-size-fits-all default investment allocation for participants.
The lawsuit accuses plan fiduciaries of failing to benchmark recordkeeping fees and failing to monitor investment fees, among other things.
The two items that may require an amendment relate to difficulty of care payments treated as compensation for 415 limits, and the application of cooperative and small employer charity pension plan rules.
One retirement plan industry executive says his conversations with members of the U.S. House and Senate make him optimistic that Congress could act sooner rather than later on the new legislation.
The settlement is a victory for the increasingly well-known law firm Capozzi Adler, which has filed numerous ERISA excessive fee lawsuits in the past several years.
Experts say the president-elect could start the process of shoring up Social Security and embrace ESG investing.
A former Securities and Exchange Commission litigator who was at the regulator during the transition from the Clinton administration to the Bush administration considers what might happen when Democratic President-elect Joe Biden takes office.
Jay Clayton’s stint at the helm of the Securities and Exchange Commission included oversight of the Regulation Best Interest finalization and implementation process, among other important projects.
In the years since the Supreme Court handed a decision establishing strict standards for proving standing, very few stock drop cases have made it past the motion to dismiss stage.
Adding to a busy year of acquisitions for the aggregator firm, this will be CAPTRUST’s first location in Colorado.
The rule implements the registration requirements for PEPs pursuant to the SECURE Act
Plaintiffs claim that as a jumbo plan, Amway had substantial bargaining power regarding investment fees and expenses.
The IRS has issued final regulations on mortality tables to be used for calculating required minimum distributions, which reflect longer life expectancies.