Knight-Swift Settles ERISA Cases, RTX Faces Plan Forfeiture Charges
Motor carrier holding company Knight-Swift is settling two ERISA complaints while RTX Corporation faces charges of breaching fiduciary duties.
Tag: ERISA
Plaintiffs Appeal 401(k) Forfeiture Case Against Honeywell
A day after a federal district court dismissed a 401(k)-plan forfeiture complaint suit against plan sponsor Honeywell International, plaintiffs appealed...
2nd Circuit Reopens Prohibited Transaction Claim Against Northeast Grocery
The appellate court reversed part of a district court’s dismissal, allowing part of the complaint to proceed in light of...
Labcorp Wins ERISA Bench Trial, NextEra to Face Class Action
Two federal courts reached different decisions in separate complaints that accused large employers of mismanaging employee retirement plans.
Empower Accused of Pushing Excessive Costs, Underperforming Investments
The complaint alleges that Empower Advisory Group and its affiliates misled retirement plan participants into transferring savings into high-fee investment...
District Court Denies Bank of America’s Motion to Dismiss 401(k) Forfeitures Case
U.S. District Judge Max Cogburn Jr. rejected Bank of America’s argument that its decisions were made in a “settlor capacity”...
District Court Rules ERISA Claims Against Amentum, DynCorp Can Proceed
The government contractors are facing excessive-fee allegations, but a federal judge dismissed complaints about their improper use of forfeitures.
Employer Groups Argue for Reversed Court Decision on Lockheed Martin PRTs
The U.S. 4th Circuit Court of Appeals received an amicus brief arguing that Lockheed Martin was allowed to transfer pension...
Federal Judge Rejects Motion to Dismiss Stable Value Investment Case
Sentara Healthcare Inc. and its fiduciary committee had asked a district court in Virginia to dismiss a complaint related to its...
Complaint Alleges ERISA Breaches in Siemens Energy 401(k) Plan
According to the complaint, Siemens Energy retained in its plan underperforming investment options, including its proprietary stable value fund that delivered...
Plan Forfeiture Complaint Filed Against Aldi Tries New Allegation
Filing after the Department of Labor’s amicus brief in a similar case, Illinois plaintiffs allege that the grocery company violated...
Complaint Filed Against Nokia Alleges Mismanagement of Investments
Two former employees of Nokia North America allege that the company failed to replace poorly performing funds, which cost employees...
DOL Says Citi’s Diverse Asset Manager Program is Unlawful
The Department of Labor said the guidance no longer reflects its views, rescinding a 2023 advisory opinion approving the Citi...
Experts Split on Private Equity in 401(k) Plans
Supporters say access to PE would allow participants the chance to enjoy higher returns, while naysayers stress that the asset...
Parties Agree to $48.5M Settlement in Pentegra Fiduciary Breach Case
A jury awarded plaintiffs in the case, Khan et al. v. Board of Directors of Pentegra Defined Contribution Plan et...
Natixis Prevails at Court in ERISA Complaint
The judge ruled that the defendants had not breached their fiduciary duty by acting in their own interests, following a...
EBSA Eliminates Three Interpretive Bulletins, Calling Them ‘Unnecessary’
The Department of Labor’s Employee Benefits Security Administration announced on Monday that it is removing three interpretive bulletins related to the Employee...
401(k) Forfeiture Complaint Against Wells Fargo Dismissed
The District of Minnesota ruling, released June 18, closely resembled the dismissal of an ERISA complaint against J.P. Morgan on...
Employer Sues Blue Cross Blue Shield of Michigan for Alleged ERISA Violations
Wesco Inc. alleges BCBSM exploited self-funded health plans by charging fees to fix its own billing errors, in violation of...
Court Narrows Scope of Liberty Mutual Case, But Allows Single Claim to Proceed
In Massachusetts, while a federal judge granted partial summary judgment in favor of Liberty Mutual, an alleged breach of the...