Putnam to Seek Supreme Court Input on Burden of Proof
Putnam Investments has asked for a stay in a case accusing it of self-dealing in its 401(k) plan so it can petition the U.S. Supreme Court regarding whether...
Tag: ERISA
DOL Provides Relief for Plans Impacted By Recent Hurricanes
The Department of Labor has published employee benefit plan compliance guidance and relief for victims of Hurricanes Florence and Michael, recognizing that plan fiduciaries and employers may encounter...
Neuroscience Center Pension Plan Fiduciary Settles ERISA Dispute
Under DOL scrutiny, the Illinois-based employer has agreed to restore nearly $420,000 to its defined benefit pension plan.
Another District Court Decision for Dignity Health Church Plan Lawsuit
The interim decision is a mixed bag that falls more in favor of the plaintiffs, but it by no means concludes the litigation—not least because plaintiffs have already...
Putnam Proprietary Fund Suit Revived on Appeal
Finding "errors of law" in a district court's decision, the 1st Circuit remanded the duty of prudence claims for review.
Fidelity Faces a Myriad of Allegations in New ERISA Lawsuit
In addition to self-dealing allegations, the complaint calls out Fidelity for not negotiating revenue sharing refunds for its 401(k) plan participants and not considering stable value options for...
Trendspotting
Fiduciary Insurance Is Critical
Insurers scrutinize potential customers more carefully
Practice Development
Cash Balance Plans on the Rise
As participants approach retirement, the plans let them “turbo-charge their saving.”
Neuberger Berman Dismissed as Defendant in 401(k) Self-Dealing Suit
Once a federal judge dismissed the breach of fiduciary duty claims, she found most defendants were not fiduciaries with respect to the remaining claim.
Washington University Defeats 403(b) Lawsuit
According to the court, the consolidated complaint “pleads no facts sufficient to raise a plausible inference that defendants took any of the actions alleged for the purpose of...
Principal Defeats Guaranteed Investment Contract Lawsuit in District Court
At the heart of the complaint were guaranteed investment contracts, a type of group annuity contract sold to retirement plans, issued by Principal to ERISA-covered retirement plan participants.
ERISA 404(c) Compliance Well Worth the Effort
Frederick Reish, partner in the Drinker Biddle & Reath Employee Benefits & Executive Compensation Practice Group and Chair of the Financial Services ERISA Team, suggests a good way...
Federal Court Orders Prison Term after Benefit Plan Theft
A Maryland business owner will serve one year and one day of imprisonment and pay more than $350,000 in restitution for violations of the Employee Retirement Income Security...
Verizon Landline Spinoff Company Frontier Faces Stock Drop Litigation
The lawsuit seems keenly aware of the poor record other such complaints have had in federal court since the crucial Supreme Court ruling in Fifth-Third vs. Dudenhoeffer—focusing its...
Wilmington Trust Dodges M&T Bank Proprietary Funds Suit
Wilmington Trust subsidiaries were found not to be fiduciaries, but other claims against the M&T Bank retirement plan committee were moved forward.
Wagner Building Database for New Adviser Search Service
Advisers interested in participating are called on to submit info electronically.
5th Circuit Sides with Whole Foods in Stock Drop Litigation
The case ascended on appeal from the U.S. District Court for the Western District of Texas, where it also flatly failed to meet the high hurdles for proving...
Missing Participants Could Disqualify a Retirement Plan
Mercer offers recommendations for retirement plan sponsors to search for missing participants.