Aside from traditional allegations of excessive fees and mismanagement of company stock, ERISA litigation in 2016 included challenges to fund types, fiduciary processes and provider arrangements; expect more to come.
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After multiple trips through the district and appellate court systems and consideration by the Supreme Court on multiple occasions, Tibble vs Edison took another step forward today.
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Broadridge identified three trends driving change in the retirement industry that it says will remain regardless of what happens to the DOL fiduciary rule.
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The actuarial update is important for plan sponsor clients to note, but the effect to regular business is likely limited, as the individuals most affected are likely no longer employed by the plan sponsor.
Among his accomplishments, Barry won the Pulitzer Prize for commentary, although he misplaced it for several years, which is why his wife now keeps it in a secure location that he does not know about.
One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent weeks are the ‘most outrageous’ the industry has ever seen.
Because different provisions are included in the House and Senate versions of the ambitious retirement reform legislation, a reconciliation process is likely in store.
Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.
