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.
Compliance
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.
Judge Dismisses Most Claims in Intel ERISA Lawsuit
The new ruling, filed in favor of the defendants, is just the latest action in what has been a long-running...
Retirement Plan Advisers Might Help Lessen ERISA Lawsuits by Adding Defensive Provisions
Advisers can assist plan sponsors with mitigating and preventing claims for benefits and other Employee Retirement Income Security Act claims.
Bankruptcy Rulings Could Inform Financial Planning Decisions
Court cases expanded on the rules regarding the protection of retirement plan assets.
Plaintiffs Refile ERISA Lawsuit, Adding Adviser to Defendant List
The plaintiffs in an ERISA fiduciary breach lawsuit known as Fleming v. Rollins Inc. have refiled their complaint in federal...
New York State Fines Pacific Life for PRT Violations
The company was penalized for violating state law by conducting an unlicensed insurance business.
Informational Copies of 2021 Form 5500 Published by DOL
In addition to the Form 5500 informational copies, the IRS has also released the 2021 Form 5500-EZ and related instructions.
Chicago Consultant Faces New ESOP Lawsuit
The complaint claims ERISA violations against the company for allegedly deflating the plan’s value.
SEC Charges Underscore Importance of Digital Communication Management
J.P. Morgan Securities has agreed to pay $125 million to resolve what the SEC calls ‘longstanding failures by the firm and its employees’ to maintain and preserve certain...
Plaintiff’s Severance Agreement Doesn’t Stop ESOP Lawsuit
The defendants’ motion for summary judgment, based on the release of claims and their contention that the plaintiff didn’t suffer an injury, was denied.