Supreme Court Declines to Hear Ruby Tuesday Appeal in Equitable Surcharge Case
The decision leaves intact a ruling favoring a plan trustee and preserves differing interpretations among appeals courts of remedies available...
Tag: ERISA
Recordkeeper Contracts Can Be Plan Documents, per Federal Appeals Court
The 4th Circuit’s decision strays from what other circuits have held counts as an ERISA-covered document.
11th Circuit Scraps Longstanding ERISA Exhaustion Rule
Participants in Florida, Georgia and Alabama no longer need to complete plan claims procedures before filing fiduciary-breach litigation.
Interested in Offering CITs? Learn About the Regulations
As collective investment trusts become increasingly popular in retirement plans, fiduciaries must remember that they are subject to many rules...
Lockton Companies Disability Benefit Ruled to Fall Under ERISA
A judge in the Southern District of California ruled the employer went beyond collecting employee premiums.
DOL Prevails in Circuit Court Appeal Over Diverted Contributions, Unpaid Health Claims
The US 5th Circuit Court of Appeals affirmed a Louisiana district court’s decision to grant summary judgment on claims a...
SCOTUS Intel Hearing Focuses on ‘Meaningful’ Fund Benchmarks
Justices pressed both sides on what constitutes a valid comparison when evaluating retirement plan investment performance in ERISA lawsuits.
Potential SECURE 3.0 Bills Introduced in House
Ranking Democrats introduced bills addressing standing to sue, mandatory arbitration and the definition of fiduciary.
Federal Judge Dismisses PRT Claims Against AT&T, Lets Case Against State Street Proceed
The district court ruled that AT&T delegated responsibility for selecting an annuity provider, potentially impacting other pension risk transfer suits.
ERIC, Business Groups Back AT&T in 401(k) Forfeiture Appeal
The groups’ amicus brief argues that AT&T’s use of forfeitures to reduce future employer contributions is consistent with ERISA and...
Wagner Law Group Pushes Back on Proposed PBGC Penalty Rule
According to the law group, employers in defined benefit plans would be unfairly paying for outside adviser errors.
Liberty Mutual 401(k) Forfeiture Case ‘Appears to Fail,’ per District Judge
The California ruling is the latest opinion favoring employers scrutinized for offsetting future plan contributions.
CGI Sued for 401(k) Fund Underperformance
Plaintiffs claim the plan lost $168 million because the employer maintained a fund that persistently underperformed and experienced mass outflows.
ERIC Backs Dismissal of WPP Forfeiture Suit
The employer advocacy group argued in an amicus brief that WPP made a lawful choice using unvested funds to offset...
PBGC Updates 4 Categories of Interest Rates in August
Pension plans and multiemployer plans use the heightened rates for valuation and funding purposes.
Circuit Court Rules Royal Caribbean ERISA Suit Does Not Need ‘Apples-to-Apples’ Benchmarks
The decision that a lower court applied an overly rigid benchmark standard in assessing fiduciary imprudence could have broad implications...
District Judge Lets Some ERISA Claims Against Independence Administrators Stand
The food and facilities services company Aramark alleges its third-party health-plan administrator breached fiduciary duties and engaged in prohibited transactions...
District Judge Finds ‘Meaningful’ Benchmark in 3M ERISA Case
The judge rules that the amended complaint plausibly alleged target-date fund underperformance relative to Fidelity Freedom TDFs.
District Judge Narrows Ruling Against AT&T Brokerage-Window Fees
Retirement industry groups argued that the original decision could question the compliance of almost every defined contribution plan that offers...
Schlichter Bogard Settles ADP ERISA Lawsuit for $48M
The ADP fiduciary committee will review its retirement plan’s target-date funds as part of the settlement.