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).
One brief details the history of university retirement plans and argues that 403(b) lawsuits compare apples to oranges; another argues that hindsight cannot be used to challenge investment performance; and TIAA defends its products.
Plaintiffs include in their complaint a substantial amount of backward-looking fund performance data to underpin their failure to monitor claims, comparing the Home Depot offerings to others that could have been purchased.
Former committee members—who were not members at the time the complaint was filed—filed motions to remove themselves as defendants in the case; some of the motions were granted, but a couple were denied.
Nearly a month after an appellate court unexpectedly quashed the DOL fiduciary rule expansion, the Securities and Exchange Commission has announced a date and time for its first formal meeting on the topic.
The ruling to consolidate the cases and allow them to proceed comes just about a week after the parties appeared for a hearing before the court, considering twin motions for dismissal and summary judgement.
Following extensively detailed deliberation citing important SCOTUS rulings and other precedents, the district court ruling rejects a multiemployer plan’s usage of the so-called “Segal Blend” to set the discount rate for assessing a member's withdrawal liability.
The agency ended its determination letter program effective in 2017, but said it will measure the need for exceptions in a variety of ways including annual input from the Employee Plans (EP) community.
The “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Providence, Rhode Island, on June 28.
The lawsuit brought by a participant in a Washington University retirement plan challenges TIAA's use of collateral in its loan process and the provider's retention of some interest on the collateral.
The ERISA Advisory Council has provided the DOL with recommendations for design and delivery improvements with respect to the Summary Plan Description, the Annual Funding Notice and the Summary Annual Report.
The Pension Benefit Guaranty Corporation (PBGC) is issuing guidance to assist multiemployer pension plans that request PBGC review of alternative plan rules for satisfying employer withdrawal liability.
The lawsuit alleges Yale defendants acted imprudently with regard to recordkeeping and investment fees for the plan.
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.”
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.
A fiduciary to the Southside Manufacturing Corp. Retirement 401(k) Savings Plan will pay restitution of $87,276 for stealing from an employee benefit plan, and failing to pay federal taxes.
The Certified Financial Planner Board of Standards has adopted a revised ethics code that requires a CFP professional to act as a fiduciary in all client service contexts, and therefore, to act in the best interests of the client at all times when providing financial advice.
In the lawsuit, ERIC argued that the Employee Retirement Income Security Act (ERISA) pre-empts the reporting requirements in the OregonSaves state-run retirement program for private-sector workers.
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.
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.