Tag: ERISA

ESOP Trustee Cleared of ERISA Wrongdoing

The trustee of an employee stock ownership plan (ESOP) acted in good faith when it determined the fair market value of company stock, so it did not violate prohibited transaction rules, a judge has determined.

Court Tosses Company Stock Imprudence Claim

A federal judge in Georgia has thrown out claims by 401(k) participants that Beazer Homes USA breached its fiduciary duties by offering company stock as an investment option when it was no longer prudent.

EBSA Recovered More Than $1B in 2009

The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) reported recovering $1.36 billion in 2009 for employee benefits plans governed by the Employee Retirement Income Security Act (ERISA).

ERISA Class Actions Picked up in 2009

The nation’s economic downturn has prompted plaintiffs’ lawyers to increase the pace of filing of class action lawsuits to recover 401(k) plan losses under the Employee Retirement Income Security Act (ERISA), a new analysis found.