The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.
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 self-dealing.
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 stock-drop lawsuits.
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.
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 collective labor in the U.S. economy.
A new complaint filed in Illinois echoes allegations leveled against the insurance company in a complaint from November.
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.
The office is also calling on the SEC to establish an ESG framework.
This makes its new prohibited transaction exemption all the more important, according to attorneys with Groom Law Group.
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.
It also provides a way for retirement plan sponsors to avoid a partial plan termination.
Among other important developments, the Department of Labor has confirmed that one cannot simply write their way out of a functional fiduciary relationship.
The physical presence requirement for spousal consents and participant elections under qualified retirement plans will be lifted through June 30.
The advice concerned mutual funds, illiquid alternative investments and cash sweep vehicles.
The SEC’s leadership says the updated marketing rule reflects important changes to the traditional advertising and solicitation regulations, which have not been amended for decades.