A federal judge in Kansas cleared the way for former YRC Worldwide employees to move forward with their stock-drop suit against the trucking company.
A federal judge in Georgia rejected claims SunTrust Banks breached its fiduciary duty by keeping company stock as an investment option in its 401(k) plan after it was no longer prudent.
In a conference call with the media, Phyllis C. Borzi, Assistant Secretary of Labor at the Department of Labor, described the current fiduciary guidelines as being “arcane.”
For the first time in a generation, the Labor Department has taken another crack at the definition of a fiduciary under the Employee Retirement Income Security Act (ERISA).
The U.S. Department of Labor (DoL) has accused four money management firms of violating their fiduciary duties by causing hundreds of millions of dollars in losses to pension and other benefit plans after placing their investments with Bernard Madoff.
The national law firm of Quarles & Brady announced that Angela Marie Hubbell has joined the firm's Chicago office as a partner in the Employee Benefits & Executive Compensation Group.
A federal judge in Missouri reversed his ruling and gave a St. Peters, Missouri-based silicon wafer manufacturer another chance to argue that a stock-drop lawsuit against it should be thrown out.
A settlement has been preliminarily approved in a consolidated class action lawsuit against National City Corporation.
A federal appellate court has agreed with a lower court judge that an employer was allowed to drop an option allowing participants to move defined contribution plan assets to a defined benefit program.
A federal judge in Pennsylvania made a mistake when he threw out a 401(k) excessive fee case against Unisys Corporation and Fidelity Management Trust Company, the Department of Labor (DoL) contends in court papers.
A federal judge in Michigan has thrown out a fiduciary breach lawsuit against State Street Bank and Trust filed by General Motors 401(k) participants over company stock-related losses.
The first step retirement plan advisers should take to avoid lawsuits is to educate plan sponsors on their role as a fiduciary and their need for insurance, according to Attila Toth, Principal, Portfolio Evaluations.
Deidre A. Grossman, an Employee Retirement Income Security Act (ERISA) litigator, has joined the Littler Mendelson, P.C. law firm as a shareholder in its New York office.
The SPARK Institute has published the final version of its Best Practices for ERISA-covered 403(b) plans that must file a full Form 5500.
A federal judge in Indiana has given final approval to a $7-million settlement of a stock drop class action case against Guidant Corp.
The owner of a Pasadena, California, spa and salon has been charged with embezzling more than $26,000 withheld from employee paychecks for a 401(k) profit-sharing plan.
A federal appellate court has cleared Solvay Chemicals Inc. of wrongdoing in its cash balance plan conversion, but sent a narrowly drawn notice issue back to a lower court for further hearings.
General Growth Properties, the second-largest U.S. Mall owner, in the process of emerging from bankruptcy, has agreed to a $5.75-million settlement of a 401(k) stock-drop case.
Merrill Lynch’s WealthBuilder Plan did not violate the Employee Retirement Income Security Act (ERISA) because it was a top-hat plan, a federal judge ruled in throwing out a proposed class-action lawsuit by three financial advisers against the company.
A federal court in Illinois ruled that participants of the Antioch Company Employee Stock Ownership Plan are not barred from moving forward with their claim that company fiduciaries and GreatBanc Trust Co. breached their duties under the Employee Retirement Income Security Act.