Humana Faces Classic Prudence Claims in New ERISA Lawsuit
According to the plaintiffs, the plan’s fiduciaries did not try to reduce the plan’s expenses, resulting in the assessment of...
Tag: ERISA
Industry and Congress Agree the Coverage Gap Is a Big Problem
Witnesses at a retirement security hearing held Thursday by the Senate HELP Committee all spoke about the central importance of closing the defined contribution plan coverage gap.
Judge Moves Forward Wells Fargo 401(k) Self-Dealing Suit
The suit alleges that defendants used the plan to increase their own revenue and seed new funds.
Bronson Healthcare Group Sued Over 403(b) Plan Fees
The lawsuit alleges fiduciary breaches related to ensuring reasonable administrative and investment fees.
KeyCorp Succeeds in Getting Some Claims Dismissed in Excessive Fee Suit
A court dismissed claims regarding KeyCorp plan’s stable value fund option but moved forward some claims regarding excessive administrative and...
Quest Diagnostics ERISA Lawsuit Can Proceed
The district court roundly rejected the defense’s dismissal motions, ruling that the plaintiffs have sufficiently alleged that fiduciary breaches may...
Lawsuit Says Changes to University of Tampa 403(b) Plan Made Too Late
The complaint says fees charged to participants in the plan were "grossly excessive" because they were not based on the...
WakeMed Quickly Settles 403(b) Fee Lawsuit
The emergency medical services company has settled an ERISA lawsuit suggesting it failed to meet its fiduciary duties of prudence...
DOL Investigation Lessons Learned From Long Experience
Drawing on their collective decades of experience working inside and outside the DOL, a panel of expert ERISA attorneys convened...
No Fiduciary Breach Found Against Plan Sponsor, Provider in Benefits Estimate Suit
However, the 9th Circuit contemplated whether an online request is considered a 'written request' under ERISA, and attorneys say the...
Aon, Alight Win Lawsuit Alleging PRT Failures
Following a bench trial, said the firms “acted prudently and reasonably in administrating, investing and terminating the pension plan.”
Compliance News
Legislative and Judicial Actions
States updating annuity standards; Senate confirms a Labor secretary; GAO presses the DOL to clarify cybersecurity guidance; and more.
15th Anniversary of RPAY: Francis Investment Counsel
The practice remains as dedicated to providing top-notch retirement plan services as when it won the 2018 PLANSPONSOR Large Team...
Lawsuit Challenges Fees in Kimberly-Clark’s 401(k) Plan
The plaintiffs allege plan fiduciaries used what it calls ‘cobbled-together services from many providers’ and didn't monitor fees for any...
Judge Finds Most Allegations Sufficient in Lawsuit Over CITs
Among other claims, the lawsuit says Aon and a 401(k) plan sponsor caused the plan to invest in Aon’s proprietary collective investment trusts (CITs) for Aon’s benefit.
Barnabas Health Retirement Plan Lawsuit Moves Forward
Plan fiduciaries' motions to dismiss the excessive fee suit were denied as a federal judge found the plaintiffs' claims were...
Raytheon Sues Allianz Over Pension Fund Performance
The plaintiffs in a new lawsuit against Allianz Global Investors say the asset manager failed to provide the hedging strategies it said it would include in a pension...
Judge Finds in Favor of Principal Life’s Process for Setting GIC Crediting Rate
Principal prevailed in a lawsuit that alleged it set the crediting rate for a guaranteed investment contract (GIC) such that...
Excessive Fee Lawsuit Settled for $2.3 Million
Brenntag North America denied any wrongdoing regarding the alleged failures that plaintiffs said caused excessive investment and recordkeeping fees in...