ERIC Supports SPD Case Dismissal
ERIC recently filed a brief with a federal appellate court in a case about a plan changing over from defined benefit to cash balance status.
Tag: ERISA
Court OK’s Parts of ERISA Breach Suit
A federal district court has given the green light to certain claims that fiduciaries to Weyerhaeuser Company’s pension plans breached their duties by overinvesting the plans’ assets in...
Adviser Ordered to Restore Plan Losses
An investment adviser has been ordered to restore plan losses, incentive fees and penalties for several employee benefit plans.
Case Dismissed on Presumption of Prudence
A federal appeals court found the application of the presumption of prudence to be appropriate at the motion to dismiss stage.
Fidelity Cleared of Excessive Fee Violation
A federal appeals court affirmed the dismissal of a lawsuit against Fidelity Management Trust Company regarding excessive fees.
Brokerage Must Repay Plan Participants, Beneficiaries
An insurance brokerage firm must repay more than $270,000 to the participants and beneficiaries of a Florida-based retirement plan.
Court Orders Ill. Company to Restore Plan Assets
More than $150,000 must be restored to the profit-sharing plan of a now-defunct Illinois company, said the U.S. Department of Labor...
John Hancock Cleared of Wrongdoing in Excessive Fee Case
Claims brought against John Hancock Life Insurance Company by retirement plan participants have been dismissed.
Retirement Plan Investigated for Alleged ERISA Violations
A law firm is investigating whether RadioShack Corporation violated the Employee Retirement Income Security Act (ERISA) by offering company stock in its retirement plan.
UBA Makes Plan Document Solution Available
United Benefit Advisors (UBA) has named PLAN DOC Builder a Certified Solution for its more than 2,000 benefit professionals across 140 Partner Firms.
Certain Revenue Sharing Payments not Plan Assets
The Department of Labor (DOL) has weighed in on whether certain revenue sharing payments constitute plan assets under the Employee Retirement Income Security Act (ERISA).
DOL Revises Definition of Rating Agency
Morningstar Credit Ratings, LLC, is now qualified as a “Rating Agency” as defined by the U.S. Department of Labor (DOL).
Advocacy Group Slugfest Over Standard
ASPPA says a uniform fiduciary standard would cause confusion, but a coalition of other financial groups said retail customers would benefit from such a standard.
Wagner Law Names Welfare Benefits Head
Roberta Casper Watson has been named head of the welfare benefits department at the Wagner Law Group.
Court Finds for Employer in Dispute over Benefit Election
The 6th U.S. Circuit Court of Appeals found a benefits committee used a reasonable process to conclude it paid a participant's benefits according to his election.
Mesirow Teams with CPI in Fiduciary Services
The investment strategies group of Mesirow Financial rolled out fiduciary services for ERISA sections 3(21) and 3(38) through CPI Qualified Plan Consultants Inc.
Compliance Issues for 403(b)s
Some retirement plan compliance issues are unique to 403(b)s.
Dealing with Documentation in a DOL Investigation
It’s a situation dreaded by every service provider to a retirement plan: an investigation by the Department of Labor (DOL).
9th Circuit Revives Amgen Stock Drop Case
An appellate court reversed the dismissal of an Employee Retirement Income Security Act (ERISA) class action against Amgen, Inc. and an Amgen subsidiary.
Paychex Debuts Investment Web Tool
A Web-based investment-filtering tool from Paychex Inc. simplifies investment aggregation and identification for advisers.