Compliance

A federal court has ruled that the University of Pittsburgh Medical Center’s lawsuit against CBIZ should not be dismissed as a matter of summary judgment.

After 15 years of litigation, a new ruling has been filed in the case by the U.S. 2nd Circuit Court of Appeals, remanding the case once again to...

Bradford P. Campbell, with Drinker Biddle, recently discussed specific requirements for open MEPs, now called pooled employer plans (PEPs), included in the SECURE Act.

The lawsuit resembles many others that have been filed under the Employee Retirement Income Security Act (ERISA), suggesting an employer permitted excessive recordkeeping and mutual fund fees in...

More than six years of litigation have preceded the announcement of a proposed settlement agreement in Hunter v. Berkshire Hathaway.

The court says “actuarial equivalence” may be a term of art, but it is in fact left undefined by the federal statutes governing pension plans.

The Shell Oil Company, several of its executives and multiple business units of Fidelity are all named as co-defendants in a complex fiduciary breach lawsuit filed in Texas. 

Among its many popular provisions, the SECURE Act extended the age at which one must begin making withdrawals from tax advantaged savings.

Repeating a number of excessive fee lawsuits filed, the complaint says the defendants did not try to “reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment...

The plaintiff in the case asked the court to to answer “whether Dudenhoeffer’s ‘context-sensitive scrutiny of a complaint’s allegations’ can be met where a court" makes certain presumptions.

FINRA says a lapse in sufficient supervision led to retirement plan clients being supplied with inaccurate investment expense ratio and performance information.

The American Federation of Musicians and Employers' Pension Fund is just the latest union multiemployer pension to appeal to the Treasury Department for permission to cut benefits.

The case has effectively been kicked back to the 2nd Circuit for a ruling on arguments the Supreme Court feels should be aired before a lower court.

Fund mismanagement, excessive recordkeeping fees and improper fees to Financial Engines were among allegations in the original complaint.

A court disagreed with plaintiffs that CIGNA was not following orders when calculating remedies in the case, and the court has now denied a review of that decision.

Putnam had asked the high court whether the plaintiff or the defendant bears the burden of proof on loss causation under ERISA to determine “whether showing that particular...

The plaintiffs say defendants failed to utilize the lowest cost share class for many of the mutual funds within the plan, and failed to consider collective trusts, commingled...

The SEC says the firm disadvantaged certain retirement plan customers by failing to provide them with less expensive share classes for which they were eligible.

The majority of the law’s provisions are effective for plan years beginning after 12/31/2019, so preparations should already be underway.