Tag: ERISA
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...
Bellwether IBM Stock Drop ERISA Lawsuit Settlement Published
The case history of IBM v. Jander shows the importance, but also the limitations, of Supreme Court rulings in fiduciary...
Lawsuit Says Retirement Plan Fiduciaries Failed to Monitor and Limit Revenue Sharing
The complaint against Wesco Distribution also alleges that the defendants chose higher-cost share classes for investments.
Judge Moves Forward ERISA Suit Against Coca-Cola Bottler
The judge found that plaintiffs in the case challenging the use of an actively managed TDF suite rather than its...
Judge Finds Participant Data Is Not a Plan Asset in Case Against Fidelity
As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching...
Long-Running BlackRock ERISA Suit Reaches Settlement
The investment firm has agreed to pay $9.65 million to resolve a fiduciary breach lawsuit, first filed in 2017, questioning...
15th Anniversary of RPAY: Ellen Lander
Lander says her practice, Renaissance Benefit Advisors Group, thoroughly enjoys its independence.
Magistrate Judge: Lawsuit Alleging PRT Advice Failures Should Continue
Among the interesting points of legal discussion in the magistrate judge's report is an evaluation of the standard embraced by...
Classic ERISA Claims Filed Against USI Insurance Services
The financial services company is facing self-dealing allegations that closely echo those filed—with mixed results—against many of its industry peers.
Practice of Rebranding Investments Questioned in ERISA Lawsuit
The American Red Cross is accused of allowing excessive investment and recordkeeping fees in its 401(k) plan.
Lockton and Norton Healthcare Agree to Pay $5.75M ERISA Settlement
A newly filed settlement agreement stipulates that Norton Healthcare and Lockton will each pay half of a total settlement of $5.75 million, which will be used to compensate...
Principal Life Insurance Co. Named In Self-Dealing ERISA Suit
Related self-dealing claims made against other national financial services providers by participants in their own retirement plans have met varying...