House Education and Workforce Committee Advances 3 Bills
The legislation is intended to prohibit PBM kickbacks, increase transparency in hospital billing and extend Form 5500 disclosure deadline.
Tag: ERISA
SCOTUS Upholds District Court Ruling in Withdrawal Liability Case
The Supreme Court decided that a machinists’ union did not mishandle the calculation of employers’ unfunded vested balances.
District Court Dismisses Stable Value Case Against Equitable
The plaintiff could potentially refile, but a federal judge wrote that current accusations of investing in an underperforming fund were...
Appellate Court Dismisses Forfeited Funds Case Against Wells Fargo
The U.S. 8th Circuit Court of Appeals is the first appellate court to decide whether former employees and plan participants...
Ford Accused of Improper Use of Employees’ 401(k) Savings
Ford retirement plan fiduciaries allegedly used participant assets, rather than company funds, to pay administrative expenses.
Schlichter Bogard Files Suit Over Voluntary Benefits Program Fees
Banner Health and its plan fiduciaries allegedly caused employees with supplemental insurance offerings to pay excessive premiums.
EBSA Head Aronowitz Asks for Industry Input on DOL Investment Rule
The head of the Employee Benefits Security Administration confirmed that the agency is considering additional guidance—particularly on fiduciary ‘duty to...
Janus Henderson Settles ESOP Lawsuit for $6.5M
The settlement total would give each plaintiff $3,613, but lawyers are expected to take up to one-third of the amount.
Retirement Advocacy Groups File Amicus Brief in SCOTUS’ Intel Case
The brief—submitted by AARP, the Pension Rights Center, and Better Markets—backs employees suing Intel over the handling of their retirement...
Appeals Court: Merrill Lynch Incentive Program Not Subject to ERISA
The US 4th Circuit Court of Appeals also shared its six-part framework to distinguish between a bonus program and a...
Genworth 401(k) Class-Action Suit May Head to Rehearing
Plaintiffs say the 4th Circuit’s previous rejection of class certification for thousands of retirement plan participants misinterprets ERISA.
Cigna Loses Bid to Stay ERISA Case
A federal judge in Pennsylvania said the case’s outcome does not hinge on the Supreme Court ruling in a separate...
Weyerhaeuser PRT Complaint Dismissed, But Plaintiffs Could Refile
A district judge ruled the plaintiffs had standing, allowing them to amend and refile their pension risk transfer lawsuit.
Chicago Judge Greenlights ESOP Class Action Suit
The consulting firm West Monroe Partners is charged with shortchanging workers who cashed out of its defined contribution employee stock...
Federal Judge Allows 401(k) Class Action Suit Against Southwest Airlines
Plaintiffs say the 401(k) plan invested in a large-cap growth strategy fund that lagged its benchmark and peer funds for...
House Committee Approves GOP Bill to Reduce ERISA Litigation
Republicans claimed the bill would reduce the number of cases that lack merit but force employers into costly settlements.
ERISA Class Action Suits May Decrease Following Appeals Court Ruling
A circuit court’s ruling that ERISA fiduciary‑breach claims may be based only on individualized monetary losses has already impacted a...
Appeals Court Reverses DC Plan Class Certification
In a fiduciary breach case brought against Genworth's 401(k) plan, the Fourth Circuit ruled that ERISA claims tied to defined...
Arizona Judge Does Not Dismiss ERISA TDF Lawsuit
Fiduciaries of the Discount Tire/America’s Tire Retirement Plan are accused to retaining a suite of target-date funds that lagged comparable...
Cushman & Wakefield Sued for Not Protecting Workers’ 401(k) From Climate Risk
The real estate giant allegedly ignored climate-related financial threats and kept an underperforming fund in its retirement plan.