RadioShack Stop Drop Suit Dismissed
Relying on standards set forth by the Supreme Court in Fifth Third Bank v. Dudenhoeffer, an appellate court affirmed a district court’s dismissal of the case.
Tag: ERISA
Compliance News
Legislative and Judicial Actions
Rutledge Takes EBSA HelmThe Department of Labor (DOL) has appointed Preston Rutledge head of its Employee Benefits Security Administration (EBSA)....
2018 Plan Sponsor of the Year Finalists
The Plan Sponsor of the Year annual award program recognizes retirement plan sponsors that show a commitment to their participants’...
EBSA Restores $1.1B to Benefit Plans, Participants and Beneficiaries
Nearly $700 million was in recoveries from enforcement actions.
Mutual of Omaha Faces Self-Dealing Suit
The complaint calls out the use of United of Omaha-branded mutual funds and target-date funds, as well as a guaranteed fund managed by United of Omaha.
Supreme Court Asked If Two Complaints Can Be Filed Regarding Claim for Benefits
In the case, the high court is asked whether an Employee Retirement Income Security Act (ERISA) claimant is barred from alleging a claim for breach of fiduciary duty...
Court Denies Franklin Templeton’s Petition to Appeal Class Certification
Franklin Templeton's lawyers argued that while a Supreme Court ruling allowed the plaintiff to pursue an individual claim, he signed a waiver to not pursue class action lawsuits...
Self-Dealing Lawsuit Targeting Capital Group Routed in District Court
In a dense dismissal decision, the district court offers a reminder of the exacting pleading standards of ERISA and statues of limitations before roundly rejecting the plaintiff's allegations...
Forced Arbitration Denied in Charles Schwab Self-Dealing ERISA Class Action
The underlying lawsuit will proceed and will test whether the firm acted imprudently or disloyally in discharging its discretionary fiduciary authority when including its own affiliated investment products...
Small Adjustment Between Fidelity and Vanguard Speaks of Fee Sea Change
News emerged Tuesday of a shift in the way Fidelity and Vanguard, two of the largest-volume providers of recordkeeping and investment products for retirement plans, work with and...
Bundled Versus Unbundled DC Plan Arrangements
The proportion of plans that are at least partially bundled fell dramatically from 53.8% in 2016 to 44.0% in 2017, a continuation of the unbundling trend, according to...
New Plaintiff Adds Claims to University of Chicago 403(b) Suit
While a federal district judge had dismissed some claims last fall, the introduction of a new plaintiff in the case adds them back.
Checking in With Verizon Pensioners Post Risk Transfer
PLANADVISER interviewed a spokesperson for a large group of Verizon retirees back in 2015, shortly following their defeat in appellate court in a case challenging the merits of...
With SEC Move Pending, New York Joins Other States Making Fiduciary Reforms
Regulatory developments in Nevada and New York show inaction at the federal level on clarifying advisers’ and brokers’ fiduciary duties is leading to a patchwork of state-by-state approaches...
Liquidity Fees and the Fiduciary Duty of Best Execution
Retirement plan fiduciaries must understand the expenses their participants pay to make trades and access investments, but their duty to monitor and ensure reasonableness is not limited to...
Allianz Settles One of the Original ERISA Self-Dealing Lawsuits
The settlement includes $12 million in monetary contributions, along with mandated administrative changes and the appointment of an independent monitor for the investment lineup.
Stable Value Lawsuits and the Goldilocks Zone
Even though there is no typical stable value fund, heading into 2018 there have been three typical types of lawsuits filed against fiduciaries offering stable value funds, according...