Tag: ERISA
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Now Who Is a Fiduciary?
How the SEC's best interest rule could affect plans, IRAs
Compliance News
Legislative and Judicial Actions
FINRA Share-Class Sweep Highlights Importance of CooperationThe Financial Industry Regulatory Authority (FINRA) announced the final results of its mutual fund...
St. Elizabeth’s Wins Suit Challenging Church Plan Status
Using other court decisions, including one from the Supreme Court, the medical center's plan was found to fall under the "church plan" definition in ERISA.
SunTrust Wins Narrow Summary Judgement in Long-Running ERISA Suit
A federal court has rejected the argument that defendants were aware that their predecessor fiduciaries had breached their duties in selecting affiliated funds and thus that they breached...
ERISA Title IV Determination Process Updated by PBGC
Among other elements, Title IV of ERISA is used to determine liability for PBGC termination premiums.
Plaintiffs’ Attorney in Thole v. U.S. Bank Predicts Victory in Supreme Court
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and...
ERISA Lawsuit Argues Outdated Mortality Assumptions Harm Annuitants
As the complaint points out, the Society of Actuaries has published some five updates to its mortality assumptions since the mortality table used by defendants was published way...
8th Circuit Sides with Defense in Stock Drop Appeal
The affirmation once again shows how influential has been the Supreme Court’s 2014 decision known as Fifth Third v. Dudenhoeffer. It also presents an interpretation of how Fifth...
Process Protects Fiduciaries in Sequia Fund Performance Lawsuit
The ERISA fiduciary duty requires fiduciaries to act with prudence, not prescience, a court said.
Funded Status Complicates Fiduciary Lawsuit Appealed to SCOTUS
Crucial to the case is the fact that the pension plan is not facing insolvency, raising the question of whether retirees can prove concrete harms occurred which are...
MFS Reaches Settlement Agreement in ERISA Lawsuit
In addition to a multi-million dollar monetary settlement, MFS has agreed to certain plan design changes moving forward.
Supreme Court to Weigh In on ‘Actual Knowledge’ in ERISA Cases
The Employee Retirement Income Security Act (ERISA) does not actually define "actual knowledge" required by participants who file fiduciary breach cases, and U.S. Circuit Courts are split on...
Reg BI Could Make It Easier for B/Ds to Compete With Retirement Plan Advisers
Experts say the new SEC rules could allow brokers to encroach into the traditional territory of advisers without having to meet the same fiduciary standard of care.
Supreme Court to Hear IBM Stock-Drop Case
IBM asks the court to hear the case after an appeals court reverses the company’s district court win.
SCOTUS Denies Review of Chevron Stable Value ERISA Suit
The appellate court found that the facts alleged are insufficient to support a plausible inference of breach of fiduciary duty, and the Supreme Court seemingly agrees.
A Conversation with Jerry Schlichter, ERISA Litigator
Schlichter says many participants in retirement plans pay lower fees for investments and recordkeeping as a result of ERISA litigation; others ask whether plan sponsors’ fear of lawsuits...