The text of the decision highlights that Federal Rule of Civil Procedure 15 provides that a court may permit a party to amend its pleadings “when justice so requires,” and absent special circumstances, such leave should be “freely given.”
During an exchange on Capitol Hill on Wednesday, the Democratic representative from Ohio pressed DOL Secretary Alexander Acosta for details on how the regulator is addressing advisory industry conflicts of interest.
Plan fiduciaries have agreed to prohibit service providers from using data generated in serving the plan to market or sell unrelated products to Vanderbilt 403(b) plan participants.
The advisory firm of Slocum & Associates will not face class-action claims and has prevailed on some summary judgement arguments, but the ruling allows certain individual claims to proceed.
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.
Beyond the issue of excessive compensation, the lawsuit questions the collection of “float interest” and asks whether BTG International permitted a provider to create a “captive market for 401(k) rollovers.”
The district court rules SafeWay’s dismissal motions conflate the principle that investment decisions should not be evaluated based on hindsight with the need to use historic information available at the time the decision was made.
One ERISA expert says fiduciaries already evaluating ESG risks and those being active in proxy voting will continue parsing whatever ad hoc disclosures are volunteered by companies.
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.
The recordkeeping and investment firm has emphatically denied allegations leveled in multiple lawsuits suggesting it collects “secret payments” and “kickbacks” from external fund providers.
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?”
The parties dispute whether the plaintiff has standing to bring any ERISA claims based on a settlement agreement she entered, and, if she does, which claims could be permitted to proceed.
ERISA sets exacting standards when it comes to the treatment of retirement plan investments, but a new appellate court ruling underscores the fact that not all parties dealing with retirement plans generate fiduciary liability.
There are an abundance of lessons to be learned by examining the many twists and turns of Tussey vs. ABB, one of the original examples of retirement plan fee litigation filed under ERISA.
The lawsuit accuses Eaton Vance defendants of unlawful self-dealing with respect to a company retirement plan, in violation of ERISA and to the detriment of participants and beneficiaries.
According to the recent complaint, Fidelity has breached its fiduciary duties to retirement plans by charging mutual fund and other investment companies a substantial fee as a condition for their investment vehicles being offered on Fidelity’s fund platform.
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.
The question of what facts or actions create “actual knowledge” of alleged wrongdoing, recently tested in the 9th Circuit, are critical in ERISA litigation and play a key role when judges are asked to time-bar claims.
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.