A DOL Fiduciary Rule and PTE Refresher
No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection...
Tag: ERISA
$5.4 Million Settlement Negotiated in Transamerica ERISA Suit
The settlement agreement also calls for continued fiduciary training for trustees and continued use of an unaffiliated investment consultant.
Former Employee Claims DuPont Misled Him About Benefits Availability
A federal judge has found it plausible that DuPont was misleading, based on benefits notices sent to the former participant.
A Well-Informed Look at the EBSA’s Terminated Vested Participant Project
Justine Kim worked as a DOL investigator from 2006 to 2018. In this guest article, she offers tips for advisers...
Mixed Ruling Issued in MetLife Mortality Table ERISA Lawsuit
The retirees’ main claim is that the plan’s use of mortality tables from 1971 and 1983 to convert default retirement benefits into the alternative benefits that they opted...
Judge Significantly Pares Down Claims in ERISA Excessive Fee Suit
Some claims against Konica Minolta and its 401(k) committee were moved forward but all claims against the company’s board were...
ERISA Excessive Fee Lawsuit Filed Against Generac Power Systems
The complaint includes allegations similar to those in many suits filed over the past few years.
Wake Forest University Baptist Medical Center Sued Over 403(b) Plan Fees
The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.
CDI Corp. Agrees to $1.8M ERISA Lawsuit Settlement
The retirement plan in question in the suit is substantially smaller than many of those that have faced or settled...
Estee Lauder Excessive Fee Suit Moves to Pretrial Conference
A district court judge has denied the defense’s motion to dismiss without offering any explanations for his reasoning in court documents.
Midsize Plan Claims Self-Dealing by Russell Investments
The same attorney that is representing employees of Caesars Entertainment in a self-dealing lawsuit filed in May against Russell Investments...
Judge Moves Forward Some Claims in Excessive Fee Suit, Rejects Others
A judge found there was no evidence that fiduciaries of B. Braun Medical's retirement plan violated ERISA's duty of loyalty,...
When ‘Eating Your Own Cooking’ Becomes Self-Dealing
One conclusion that can be drawn from the rash of self-dealing lawsuits filed in the retirement plan services industry is...
Serco Settles Excessive Fee Case for $1.2 Million
The class action lawsuit had charged the Navy defense contractor with selecting higher-cost mutual funds when cheaper options were available,...
John Hancock Life Insurance Agrees to Settle ERISA Self-Dealing Suit
The defendants have agreed to a $14 million payment and to procedural changes.
U.S. Asks Supreme Court to Weigh In on Excessive Fee Claims
U.S. attorneys argue the Court of Appeals’ decision in a case against Northwestern University is incorrect and conflicts with decisions...
Claims Against Aon Hewitt in Lowe’s 401(k) ERISA Case Will Move Forward
A court document shows the investment consultant and the plaintiff were unable to reach a settlement agreement.
State Street Sees Self-Dealing Allegations in ERISA Lawsuit
Participants in the State Street Salary Savings Program say their employer has engaged in self-dealing within the retirement savings plans.
Russell Investments Draws Self-Dealing Scrutiny
Plaintiffs in a new ERISA lawsuit say Caesars Entertainment allowed Russell Investments to pack its plan with proprietary investment options,...
Columbia University Agrees to Settle Excessive Fee Suit for $13 Million
The settlement agreement also includes non-monetary provisions related to bids for administrative services and share class selections for investments.