Court OKs Northern Trust DB Plan Change

A federal appellate court affirmed a lower court decision that a change to Northern Trust's DB plan benefit formula does not violate ERISA or the Age Discrimination in Employment Act (ADEA).

NYU Moves to Limit Evidence Used in Trial Over 403(b) Plans

In its motion, NYU asks that a federal district court judge issue an order “precluding from trial … any testimony, evidence, or arguments concerning claims that were previously dismissed by the court in its August 25, 2017, opinion.”

Court Denies Motion to Dismiss Edward Jones Self-Dealing Suit

U.S. District Judge John A. Ross noted in his order that the arguments the defendants advance in support of dismissal are virtually identical to those raised in their original motion which was rejected by the court and, absent a new argument, he is led to the same conclusion not to dismiss the suit.

TPA Accused of Stealing Assets From Retirement Plans

Vantage Benefits, a TPA and recordkeeper, has already been ordered to restore funds to one 401(k) plan; now a new lawsuit accuses it of stealing funds from MBA Engineering's 401(k) and cash balance plans as well as approximately 20 others.

NAFA Drops Its Fiduciary Rule Challenge in DC Circuit

Following a broadly structured decision by the 5th U.S. Circuit Court of Appeals to vacate the DOL fiduciary rule expansion, the National Association for Fixed Annuities decided its own appellate challenge has been made unnecessary.