Rainbow ESOP Challenge Easily Beats Motions to Dismiss
Plaintiffs in the lawsuit are participants and beneficiaries of the Rainbow Disposal Co., Inc. Employee Stock Ownership Plan, who seek to restore losses to the plan and to...
Tag: ERISA
District Court Sides with Checksmart and Cetera in ERISA Fee Litigation
After siding with defendants and applying the shorter of two potential limitations periods, the district court decision states clearly that plaintiff’s claims are foreclosed by ERISA's three-year statute...
Peering Through the Regulatory Kaleidoscope
Spend any significant amount of time in the retirement planning industry and, whatever the role, one will inevitably hear about the negative impact of “regulatory uncertainty.” Has it...
District Court Ruling in Multiemployer Pension Withdrawal Case Okays Use of Segal Blend
The case arose from Manhattan Ford’s withdrawal from the UAW Local 259 Pension Fund, and an arbitrator’s calculation of about $2.55 million in withdrawal liability for the employer....
Allergan Wins Stock Drop Suit Dismissal, Echoing Key SCOTUS Decision
Under the paradigm created by the Supreme Court’s ruling in a case known as Fifth-Third v. Dudenhoeffer, plaintiffs continue to have difficulty proving standing in ERISA stock drop...
DOL Investigation Results in $5 Million ESOP Settlement
The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010...
MetLife Faces Court Challenges for Pension Risk Transfer and Beneficiary Practices
According to the text of the complaint, the action seeks to hold MetLife accountable for the company’s conversion of more than $500 million in annuitized retirement benefits, interest,...
Lawsuit Argues Health Provider Plan Lost Its Church Plan Status
According to the compliant, the defined benefit (DB) plan was required to adhere to Employee Retirement Income Security Act (ERISA) funding rules.
In Memoriam: How the Fiduciary Rule Changed the Retirement Industry
With the news emerging that the 5th U.S. Circuit Court of Appeals has certified its ruling to vacate the DOL fiduciary rule, Scott Gehman, a retirement plan consultant...
Mandate Issued by 5th Circuit to Officially Vacate DOL Fiduciary Rule
While the deadline had already technically passed for the DOL to appeal the circuit court ruling vacating its fiduciary rule reforms, this highly anticipated move by the court...
Tips for Establishing and Maintaining Plan Documents
Plan sponsors have a fiduciary duty to operate in accordance with the plan document, but an ERISA attorney shares common cases when mistakes are made.
PSNC 2018: Educating Participants on Plan Data
Plan sponsors have a duty to alert and inform participants of any data changes, and ensure they are receiving the right education on it.
PSNC 2018: Effects of Fee Considerations in a Complex Industry
Panelists discussed recent trends in fees and how providers can keep plan sponsors and participants up to date.
PSNC 2018: Participant Advice in an Era of Fiduciary Uncertainty
Participant advice has highly progressed in the latest years, with the introduction of mobile technology and advanced systems, but how will it change under the new fiduciary rule...
Lessons from Litigation: Process Matters Most
When it comes to fiduciary liability insurance, having the broadest possible statement of coverage is generally best; this is because it is a functional test for determining whether...
More Sponsors Search Out Fiduciary Services and Support
When thinking about fiduciary support services and outsourcing, really the important considerations should be about process and time management, more than fiduciary risk transfer.
Reflections on a Dramatic Year for Retirement Plan Regulation
From the unexpected derailment of the DOL fiduciary rule to the expanding debate about so-called ‘open MEPs,’ your plan sponsor clients face a tremendous amount of uncertainty in...
4th Circuit Agrees Bank of America Cash Balance Participants Are Not Due More Relief
The appellate court found Bank of America did not profit from transferring participants' 401(k) accounts to a cash balance plans and noted that previously the bank entered into...
Partial Summary Judgement in Deutsche Bank Self-Dealing ERISA Suit
In a detailed ruling, the Deutsche Bank defendants’ motion for summary judgment is granted with respect to certain prohibited transaction claims, but denied with respect to other breach...
Tax Reform, Fiduciary Rule Impact 403(b) and 457(b) Plans
The National Tax-Deferred Savings Association updates its reference guide ‘The Source’ to reflect last year’s tax reform and the DOL fiduciary rule derailment.