CommonSpirit ERISA Suit Dismissed
In its rejection, the court said the plaintiff, who took issue with the plan’s use of the Fidelity Freedom Funds TDF series, did not allege facts that proved imprudent conduct.
Tag: ERISA litigation
Compliance News
Legislative and Judicial Actions
GAO is asked to review TDFs; complementary ‘SECURE 2.0’ legislation is introduced; 2022 HSA contribution limits are inflation-adjusted; and more
Compliance
Compliance
Northern Trust Faces New Fiduciary Breach Allegations
The plaintiffs argue the plan lost ‘tens of millions of dollars’ in retirement savings due to the retainment of Northern Trust Focus Funds.
Lowe’s Reaches Settlement in 401(k) ERISA Case
The $12.5 million agreement excludes co-defendant Aon Hewitt.
Compliance
ICON Clinical Research Faces Common ERISA Claims
One feature the new complaint has in common with suits filed previously by Capozzi Adler is its reliance on comparing the plan’s expenses for investments and administration services with a group of alleged peers.
Regulatory & compliance | litigation
Compliance
Compliance
A Question of Liability
When the rash of litigation yields scant legal precedent, what can advisers take away?
AT&T Defeats ERISA Suit Over Early Retirement Benefits
The plan was being sued for allegedly reducing such benefits by applying an ‘Early Retirement Factor.”
PANC 2020: Taking an Economic View of ERISA Litigation
An economic consultant discusses what plan fiduciaries should consider during this uncertain period and future litigation to look out for.
Compliance News
Legislative and Judicial Actions
Key legislation, regulations and litigation from Washington, D.C., and the courts.
Compliance Consult
On Small Plans and Large
Any size plan could be a target for fee litigation.
Compliance Consult
Compliance
Compliance
Compliance
Compliance
Compliance
Compliance
Compliance
Compliance
Products
Cyberfraud
Must a plan’s security policies meet the duty of prudence?
SEI Faces ERISA Self-Dealing Lawsuit in District Court
The lawsuit makes sweeping claims about conflicts of interest in the defined contribution retirement plan industry, suggesting financial services companies deserve extra scrutiny.
Closely Watched Case Regarding Burden of Proof Dismissed And Settled
A significant split among circuit courts on this issue remains unresolved.
District Court Ruling in Multiemployer Pension Withdrawal Case Okays Use of Segal Blend
The case arose from Manhattan Ford’s withdrawal from the UAW Local 259 Pension Fund, and an arbitrator’s calculation of about $2.55 million in withdrawal liability for the employer.
DOL Investigation Results in $5 Million ESOP Settlement
The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010 stock transaction.
Court Dismisses Lawsuit Over Inclusion of Former Parent Stock in Retirement Plan
A judge agreed that the plaintiffs failed to plead facts to state a claim for breach of the duty of prudence and the duty to diversify against the investment committee for the Phillips 66 Savings Plan.
Settlement Preliminarily Approved in University of Chicago Excessive Fee Suit
According to the settlement agreement, the university has already made changes to the investment lineup for its 403(b) plans.
Plan Sponsors Must Be Given Deference in Lawsuits Challenging Ambiguous Plan Terms
A federal appeals court found a district court did not apply the correct standard of review in a case challenging the calculation of lump-sum payments from a defined benefit (DB) plan.
University of Rochester Called Out for Excessive Fees Paid to TIAA
The lawsuit claims the university failed to adequately benchmark fees, negotiate for better fees, or reveal true fees participants were paying.
Court Orders Past Trustee to Reimburse Plan Beneficiaries
The former owner is also barred from serving as a fiduciary, trustee, agent, or representative to an employee benefit plan.