Tag: ERISA

U.S. District Judge John A. Ross noted in his order that the arguments the defendants advance in support of dismissal are virtually identical to those raised in their...

A fiduciary to the Southside Manufacturing Corp. Retirement 401(k) Savings Plan will pay restitution of $87,276 for stealing from an employee benefit plan, and failing to pay federal...

Vantage Benefits, a TPA and recordkeeper, has already been ordered to restore funds to one 401(k) plan; now a new lawsuit accuses it of stealing funds from MBA...

With so much uncertainty now overhanging the future of the DOL fiduciary rule expansion, the onus is squarely on advisers, broker/dealers and recordkeepers to decide how they will...

Plaintiffs suggested plan fiduciaries permitted excessive fees to be paid, leading to improper provider kickbacks; a district court judge has summarily dismissed the allegations for failing to state...

The unsuccessful challenge was viewed as somewhat unique amid the glut of retirement industry litigation because it cited the Racketeer Influenced and Corrupt Organizations Law of 1970, known...

While the Fifth U.S. Circuit Court of Appeals has vacated the DOL fiduciary rule expansion, one attorney warns the rule is still technically in effect, at the very...

Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others...

The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the...

The bank also agreed to continue funding matching contributions to its 401(k) plan in the form of cash or cash equivalents for a period of time.

The appellee, Market Synergy Group, argued unsuccessfully that its representatives would never be able to make the Best Interest Contract Exemption, a key mechanism underlying the new DOL...

The firm says it does not have additional information to share at this juncture beyond what has been noted in a 2017 year-end SEC filing; in that newly...

While the investing rules controlling the Connecticut public pension fund are different from those governing corporate retirement plans, the argumentation as to why gun manufacturer divestment may be...

The number of Employee Retirement Income Security Act lawsuits winning class certification in 2017 far outstripped the number of suits within which class action status was denied; attorneys...

Northrop was found not to be a fiduciary with respect to certain acts alleged against it; however, it did not escape the failure to monitor fiduciaries complaint.

The 7th U.S. Circuit Court of Appeals quoted a Supreme Court decision which said “the principle underlying the statutes—which have been adopted by nearly every State—is well established...

“While appropriate for some participants, heavy reliance on equities is almost certainly not suitable for as many 401(k) participants as the allocation of the largest TDF managers suggests,”...

The sizable ERISA suit’s third amended compliant explicitly names as a defendant one of the advisory firms supporting NYU’s retirement plans.

The DOL has entered into a settlement agreement with U.S. Fiduciary Services and three of its subsidiaries that provides for payment of more than $7 million to 42...