NYC Courier Faces ERISA Breach Lawsuit
The DOL has accused the plan sponsor and plan administrator of failing to operate the employer-sponsored 401(k) plan in the...
Compliance
Bessemer Trust Company Faces ERISA Self-Dealing Lawsuit
The plaintiffs say the firm’s retirement plan was stuffed full of high-cost, proprietary funds.
Judge Cites Recent Supreme Court Ruling in Denying Dismissal of Excessive Fee Suit
Participants in a terminated 403(b) plan challenged the use of actively managed funds and higher cost share classes.
Split Perspectives on Supreme Court’s New Ruling
Attorneys representing the plaintiffs in Hughes v. Northwestern University say the Supreme Court’s ruling strengthens fiduciary protections for retirement plan...
Texas Engineering Company Faces ERISA Excessive Fee Lawsuit
The plaintiffs also claim TDFs and other funds offered in the 401(k) plan were imprudent.
EBSA Nominee Gomez Likely to Advance in Full Senate
While President Joe Biden’s nominee for assistant secretary of labor for the Employee Benefits Security Administration is likely to be...
What the Supreme Court’s Northwestern Ruling Means in Practice
Expert ERISA attorneys say the new opinion in Hughes v. Northwestern University, while important, is far from earth-shattering when it...
Supreme Court Rules Against Northwestern University in Fee Case
The high court’s ruling states that the 7th U.S. Circuit Court of Appeals erred in relying on the fact that plaintiff-participants had the ‘ultimate choice’ over their investments...
Parties Reach Settlement in Case Over Use of Actively Managed TDF Suite
Meanwhile, the same law firm that filed the settled case has launched a new case with similar claims against another...
Court Compels Arbitration in ERISA Case
The plaintiff in a 403(b) ERISA excessive fee lawsuit filed against Baptist Health South Florida has been ordered by a district court to enter an arbitration process.
Class Certified in 401(k) Plan Trustees’ Lawsuit Against John Hancock
The suit alleges that John Hancock Life Insurance Co. violated ERISA by retaining foreign tax credits generated by plans’ investments...
Boston Children’s Hospital Latest Target of ERISA Excessive Fee Suit
The complaint alleges several breaches of fiduciary duty, including retaining poorly performing investments.
Another Stressed Union Pension to Get PBGC Support
The plan was projected to run out of money at some point this year, but the special financial assistance from PBGC should prevent this outcome.
PPL Corp. and Mass Brigham General Face ERISA Lawsuits
Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.
Lawsuit Alleges Choice of Target-Risk Funds Caused Losses to Participants
Milliman has been accused of failing to remove poorly performing investments, subadvised by its affiliate, from its 401(k) plan.
DOL’s EBSA Secretary Nominee Advanced by HELP Committee
The Biden administration’s nomination of Lisa Gomez to lead the DOL’s Employee Benefits Security Administration took a key step forward Thursday.
District Court Advances TriNet ERISA Lawsuit
The denial of the defense’s dismissal motion opens the door for either trial or settlement in an ERISA lawsuit that...
T. Rowe Price Agrees to Settle Proprietary Funds Lawsuit for $7 Million
The lawsuit against T. Rowe Price had accused the firm of filling its retirement investment menu with proprietary funds.
More CFP Board Sanctions Revealed, in Warning to Adviser Professionals
From personal income tax issues to fraud and involvement in civil litigation, the financial professional accreditation organization has identified a variety of punishable issues among its members or...
Bronson Healthcare to Pay $3 Million to Settle ERISA Lawsuit
The lawsuit challenged the use of an active suite of TDFs versus an index suite, among other things.