PLANADVISER Weekend Newsdash
Week ending February 28th, 2020

Happy Friday, readers! It’s been a busy few weeks for the U.S. Supreme Court in terms of rulings that will impact the retirement plan industry. There are also a number of additional pending cases that could have a dramatic impact on our space. With that in mind, we have compiled below some of our recent coverage of action at the Supreme Court. We hope you will share some of what you read with a client or colleague.

Editor's choice
Questions Left Unanswered in Supreme Court’s Intel Ruling
ERISA attorneys are grappling with the potential implications of the Supreme Court’s new ruling in Intel vs. Sulyma; some are speculating the growing use of electronic delivery methods for retirement plan disclosures may reduce the impact. Read more >
Plaintiffs’ Attorney in Thole v. U.S. Bank Predicts Victory in Supreme Court
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and breached ERISA in the selection of poorly performing investments offered by an affiliate company. Read more >
U.S. Weighs In on Supreme Court Consideration of Pension Case
Both the U.S. Solicitor and the Pension Rights Center argue that current funded status of a defined benefit (DB) plan is not a proper measure for whether the participants have a right to sue for breaches of fiduciary duties and prohibited transactions under ERISA. Read more >
Supreme Court Hands Back Puerto Rico Catholic Pensions Case
The high court decided that a court in Puerto Rico had no jurisdiction to order the seizure of property from Catholic entities in order to fulfill a court judgment to pay $4.7 million in pension benefits. Read more >
Supreme Court Passes on Review of Putnam Burden of Proof Case
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 investment options did not perform as well as a set of index funds selected by the plaintiffs with the benefit of hindsight, suffices as a matter of law to establish ‘losses to the plan.’” Read more >
Supreme Court Denies Petition in SunEdison Stock Drop Case
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. Read more >
MOST POPULAR STORIES
The 2022 Retirement Landscape Takes Shape

The U.S. faces a $4 trillion retirement savings gap heading in the new year, but both public and private solutions are coming online to help more people prepare adequately for life after work.

Employees Favor Retirement Plans That Substitute Annuities for Bonds

A survey also found nearly half of employees prefer to have a mix of investments and lifetime income over either traditional pensions or investments alone.

NFP’s Wealthspire Acquires Private Ocean

Wealthspire’s leadership calls the acquisition “a significant opportunity to plant a flag on the West Coast and demonstrate our growing national scope.”

Plaintiffs File ERISA Excessive Fee Lawsuit Against VCA

The lawsuit claims the veterinary hospital network’s retirement plan, which has more than $500 million in assets, should have paid lower fees for recordkeeping and administrative services.

Retirement Industry People Moves

Portfolio Evaluations adds senior fiduciary consultant; Voya Investment Management to acquire Tygh Capital Management; and Alan Biller and Associates makes key promotions.

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