Employer in Stock Drop Case Gets 2nd Chance
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...
Tag: ERISA
National City Settles ERISA Suit for $43M
A settlement has been preliminarily approved in a consolidated class action lawsuit against National City Corporation.
DC to DB Transfer Elimination Upheld
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...
DoL Urges Unisys Fee Case Reversal
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...
State Street Stock Drop Suit Gets Tossed
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.
regulatory radar
Taking Aim
New ERISA 408(b)(2) rules take a new look at adviser fees, but how that examination will affect you depends on what kind of adviser you are
intro
Decisions, Decisions
How did you decide whether to affiliate with a wirehouse, or independent or regional broker/dealer?
PANC 2010: Hidden Traps of ERISA
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...
Grossman Joins Littler Mendelson in NY
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.
SPARK Issues Final Best Practices for 403(b) Filing Form 5500
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.
Guidant Stock Drop Settlement Gets Final OK
A federal judge in Indiana has given final approval to a $7-million settlement of a stock drop class action case against Guidant Corp.
Spa Owner Charged with Retirement Fund Embezzlement
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.
Court Throws Out Cash Balance Conversion Suit
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...
General Growth Settles Stock Drop Suit
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.
Court Dismisses FA Suit over Merrill WealthBuilder
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...
Court Finds Plan Trustee Could not Act on Knowledge of Breaches
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...
Pfizer Cleared in Stock Option Suit
Pfizer Inc. did not breach its Employee Retirement Income Security Act (ERISA) responsibilities by giving an employee incorrect information about stock options granted under a non-ERISA plan, a...
EBSA to Issue Proposed Rule on ERISA Prohibited Transaction Exemption Procedures
The Department of Labor’s Employee Benefit Security Administration is issuing a proposed rule that would supersede the existing procedure governing the filing and processing of applications for administrative...
SPARK Issues Draft Best Practices for 403(b)s Filing Form 5500
The SPARK Institute has released for public comment draft Best Practices for ERISA-covered 403(b) plans that must file a full Form 5500.