CommonSpirit ERISA Suit Dismissed
In its rejection, the court said the plaintiff, who took issue with the plan’s use of the Fidelity Freedom Funds TDF series, did not allege facts that proved...
Compliance
DOL, IRS and PBGC Call for Comments on Form 5500 Revisions
In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation...
SEC Sanctions Offer New Cybersecurity Guideposts
One former SEC enforcement leader says actions against several advisory firms that allegedly had cybersecurity failures make a clear case...
Lawsuit Accuses Sponsor of DuPont Pension Plan of ‘Sleight of Hand’
Plan fiduciaries are accused of misleading participants in benefits communications and interfering with benefits by arbitrarily assigning them the status...
IRS Issues Procedures for 403(b) Plan Remedial Amendment Cycle 2
The agency also issued a Revenue Procedure which extends the deadline for making interim amendments for IRC Section 401(a) plans.
Retirement Policies Feature in Draft Budget Language Going Before House Committee
Budget reconciliation legislation set for debate in Congress gives top billing to universal paid family and medical leave, but key retirement policies also stand out, including a broad...
Oshkosh ERISA Challenge Squashed by District Court
Allegations that the company inappropriately favored actively managed funds over passive investment options for its retirement plan have fallen short...
Order Sanctions Fiduciary Who Diverted Millions From Clients
A DOL investigation and legal pursuit that have spanned the better part of two decades have drawn to a close,...
SEC Makes Good on Cybersecurity Enforcement Pledge
Earlier this year, the agency published a list of 2021 examination priorities that prominently featured issues pertaining to cybersecurity, and now it has sanctioned eight firms for related...
Consumer Protection Motivates Barbara Roper’s Move to SEC
SEC Chair Gary Gensler says her focus as a senior adviser will be on issues relating to retail investor protection, including broker and adviser oversight and examinations.
SEC Eyes Data Collection Conflicts in New Comment Request
SEC Chair Gary Gensler says the emergence of new investment technologies that embrace gamification and collect user data raises questions as to whether investors are appropriately protected.
Chamber of Commerce Calls Out Flaws in Excessive Fee Suits
In a brief of amicus curiae filed in the suit against the Red Cross, the agency claims the suits are...
Suit Over Recordkeeping Fees for PNC Financial’s Retirement Plan Dismissed
A court found that the plaintiffs did not state a plausible claim for breach of fiduciary duties. They have already...
Baptist Health South Florida Faces ERISA Excessive Fee Suit
The claims are typical of excessive fee suits, but the plaintiffs also cite language from the 403(b) plan's investment policy...
Complex Ruling Issued in Valeant Pharma-Linked ERISA Suit
The plaintiffs are employees and retirement plan participants at DST Systems who argue the defendants pursued ‘an exceptionally imprudent investment...
2nd Circuit Sends Elements of NYU ERISA Suit Back to District Court
The appellate court agreed with the plaintiffs that the lower court erred in dismissing share class-related claims and in denying...
Juniper Networks Is Latest ERISA Lawsuit Target
The claims included in the complaint, which in some respects directly contradict arguments made by other plaintiffs in related fiduciary...
Xerox Hit With ERISA Suit Alleging Excessive Fees
The complaint claims participants overpaid millions of dollars to Xerox’s recordkeeper from 2015 through 2021.
SeaWorld ERISA Lawsuit Seeks Sizable Damages
The text of the lawsuit notes the fast pace of the filing of excessive fee lawsuits against retirement plans operated...
Court Denies Dismissal of Amway ERISA Lawsuit
Among other allegations, the complaint says defendants continued to offer certain investment options despite the availability of identical or similar investment...