Retirement Plan Trustee Faces Cybersecurity-Related Lawsuit
The lawsuit says the trustee failed to prevent a fraudulent distribution from a participant's account and is failing to take responsibility.
Compliance
Dueling Dismissal Motions Denied in BlackRock Self-Dealing Lawsuit
The ruling states there are genuine disputes of material facts as to make summary judgement, whether in favor of the plaintiffs or the defense, inappropriate at this time.
Missing Participant Guidance Released by DOL
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
DST Systems, Investment Manager Settle Lawsuit Over Risky Retirement Plan Investment
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
Latest Relief Package Extends Provisions for Small Business Employers
A Buckingham Advisors webinar shared details of the second round of Paycheck Protection Program loans and tax credits implemented with...
Vail Resorts Wins Dismissal of ERISA Fiduciary Breach Lawsuit
The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.
401(k) Plan Administrator Sues VALIC Over Surrender Fees Charged to Plan
The insurer is charged with engaging in a prohibited transaction under ERISA when the fees were charged during a move to a new provider, as well as with...
Plaintiffs Petition SCOTUS in Wells Fargo Stock-Drop Litigation
The plaintiffs’ plea to the Supreme Court questions the precedents set by Fifth Third v. Dudenhoeffer—a 2014 high court ruling that significantly raised the pleading standards for ERISA...
$30 Million Settlement Reached in Lawsuit Over DB Plan Funding
The case concerns the St. Joseph Health Services of Rhode Island Retirement Plan, which the lawsuit says failed to be a 'church plan' under ERISA.
Biden Administration to Nominate Marty Walsh as Secretary of Labor
The second-term mayor of Boston is known for fighting for a higher minimum wage and for being a long-term union member who is outspoken about the role of...
Allstate Faces Additional ERISA Fiduciary Breach Lawsuit
A new complaint filed in Illinois echoes allegations leveled against the insurance company in a complaint from November.
Key DOL Prohibited Transaction Exemption Considerations
Everyone is initially eligible for the DOL’s new prohibited transaction exemption, though the regulator reserves the right to suspend eligibility for up to 10 years after certain violations.
SEC Deregulations Diminish Investor Protections, Office of the Investor Advocate Says
The office is also calling on the SEC to establish an ESG framework.
DOL Reconsiders Who Can Be Considered a Fiduciary
This makes its new prohibited transaction exemption all the more important, according to attorneys with Groom Law Group.
Roisman Named Acting SEC Chair With Clayton’s Exit
While stakeholders wait for the announcement of President-elect Joe Biden’s pick, the U.S. Securities and Exchange will be kept on a ‘steady course’ under Elad Roisman's interim leadership.