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...
Tag: ERISA
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...
JPMorgan Sued Over Health Plan’s Generic Drug Costs
The defendants claim the company breached its ERISA fiduciary duty by putting business interests ahead of the plan and its...
Industry Groups File Amicus Brief Urging 11th Circuit to ‘Preserve Integrity of ERISA’
The brief is in support of Southern Co. Services, which is accused of using outdated assumptions when calculating retirees’ joint...
Study Finds Most Corporate Retirement Plans Have Regulatory or Fiduciary Violations
According to Abernathy Daley 401k Consultants, more than 600,000 American companies could be at risk of fines, legal penalties and...
Industry Groups Push to Dismiss PRT Lawsuit Against Bristol-Myers Squibb
In an amicus brief, several advocacy groups warned that letting the lawsuit proceed past a motion to dismiss could open...
JPMorgan Faces 401(k) Forfeiture Lawsuit
The banking giant is the latest company to face litigation over its use of forfeited 401(k) assets.
401(k) Excessive Fee Litigation Spiked to ‘Near Record Pace’ in ’24
Encore Fiduciary reported a 35% increase in ERISA excessive fee litigation, in part driven by a surge in plan forfeiture...
JP Morgan Bolsters Retirement Unit With Hires From Vestwell, Smart
Josh Forstater of Vestwell has been tapped to expand Morgan’s Everyday 401(k), and Tina Anstett of Smart will lead regulatory...