Tag: ERISA

Attorney-Client Privilege Extends to DoL Audit

The fiduciary exception to the attorney-client privilege rule extends to plan administration between an ERISA trustee and a plan attorney, the 4th U.S. Circuit Court of Appeals has ruled in Solis v. The Food Employers Labor Relations Association. 

ICI Submits Brief in Retail vs. Institutional Funds Case

The Investment Company Institute (ICI) said plaintiffs’ contentions in Tibble v. Edison International that so-called “retail” mutual funds offered by the plan would not have been offered by a prudent fiduciary disregard the needs of defined contribution plans and important facts about these types of investment options.

ERISA Lawyer Joins Davis Polk

Davis Polk & Wardwell LLP announced Jeffrey P. Crandall is joining the firm in New York as a partner in its Executive Compensation and Employee Benefits practice. 

ERISA Attorneys Promote Securian Solution in Paper

Fred Reish and Bruce Ashton of Drinker, Biddle & Reath LLP have co-authored a paper describing how Securian Retirement’s fee disclosure and revenue sharing process can help plan sponsors meet their fiduciary duties. 

Puerto Rican Bank Settles Stock Drop Case

An $8.2 million settlement has been preliminarily approved by the U.S. District Court for the District of Puerto Rico in the consolidated class action lawsuit against Puerto Rico-based financial services firm, Popular Inc.

Who is The New Fiduciary?

The Department of Labor’s (DoL) proposal for a new definition of fiduciary was discussed at the PLANSPONSOR National Conference—and a representative from the DoL was present to add his viewpoint.