The class action lawsuit had charged the Navy defense contractor with selecting higher-cost mutual funds when cheaper options were available, and with allowing excessive fees in its 401(k) plan.
The practice remains as dedicated to providing top-notch retirement plan services as when it won the 2018 PLANSPONSOR Large Team Retirement Plan Adviser of the Year award.
Lander says her practice, Renaissance Benefit Advisors Group, thoroughly enjoys its independence.
While a court has ruled the plan’s advisers should be carved out of the litigation, the counts against Home Depot fiduciaries will proceed.
A district court granted summary judgment to OSF Healthcare System, but the 7th Circuit found there are genuine issues of material law that warrant more discovery in the case.
Among other things, a federal court judge found the director of benefits at Kaleida Health and the retirement plan committee of its 403(b) and 401(k) plans were fiduciaries.
Using other court decisions, including one from the Supreme Court, the medical center's plan was found to fall under the "church plan" definition in ERISA.
The Employee Retirement Income Security Act (ERISA) does not actually define "actual knowledge" required by participants who file fiduciary breach cases, and U.S. Circuit Courts are split on the issue.
IBM asks the court to hear the case after an appeals court reverses the company’s district court win.
City National argued that if a District Court had considered certain offsets to the damages award, it would have been clear that the bank never received more compensation than necessary for performing recordkeeping services for its own plan.
The one in Detroit will take place on June 5 and in Wilmington, Delaware, June 25
The Department says it recognizes that severe storms may impede efforts by plan fiduciaries in Nebraska, Iowa and Alabama to comply with the Employee Retirement Income Security Act (ERISA) over the next few months.
Specifically, the petition filed by participants in Chevron's DC plan asks the Supreme Court to answer: “In pleading a breach of fiduciary duty under ERISA, is it sufficient for a plaintiff to allege a deficient decision-making process indirectly through inferences from the facts known to her?”
A 2nd U.S. Circuit Court of Appeals decision reversed the company’s District Court win in a lawsuit alleging imprudence in managing company stock investments in one of its retirement plans.
Comparing Employee Retirement Income Security Act (ERISA) cases to trust law cases, a federal judge decided to side with "the great weight of authority in the federal courts holding actions under ERISA to remedy alleged violations of fiduciary duties are equitable in nature," so there is no right to a jury trial.