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.
Despite a setback for Oracle at the class certification stage, a new ruling out of a federal court in Colorado pushes back strongly against many—but not all—of the plaintiffs’ claims.
Two members of the U.S. House of Representatives, one a Democrat and the other a Republican, have introduced H.R. 1439, known as the Increasing Access to a Secure Retirement Act.
Fiduciary defendants were accused of allowing unreasonable expenses to be charged to participants for administration of the plan and of retaining high-cost and poor-performing investments.
Plaintiffs' claims over retirement plan investment and administration fees against the University of Southern California may now proceed.
In addition, the company will select a non-proprietary target-date fund (TDF) for its 401(k) investment lineup and increase the company match contribution rate for three years.
The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint.