Tag: ERISA

A federal judge in New York rejected claims that plan fiduciaries are immunized against stock drop suits if the plan mandates company stock investments; a decision not commonly...

Former owners of a St. Paul, Minnesota, business services company are jointly liable for repaying losses to the company’s retirement plan after they used plan assets to pay...

A federal judge in Wisconsin has ordered Alliant Energy Corp. to use an 8.2% interest rate when it carries out lump-sum distributions from its cash balance program.

In a live Web chat discussing the Department of Labor’s Employee Benefits Security Administration’s (EBSA) Semiannual Regulatory Agenda, Assistant Secretary of Labor Phyllis C. Borzi said the Agency will...

John J. Sohn has been named a partner of The Wagner Law Group, effective January 1.

A lawyer accused of financial wrongdoing should receive a 401(k) distribution of his plan savings from his old law firm, but not the employer’s contributions, a federal judge...

A federal judge in Pennsylvania has cleared the way for a 401(k) participant to pursue his claim that plan trustees violated their fiduciary duties.

A federal judge in Massachusetts ruled that Alcatel-Lucent USA did not breach its Employee Retirement Income Security Act (ERISA) fiduciary duties through its severance plan disclosures to four...

First Allied Securities, an independent broker/dealer, hired Guy J. Hocker as Senior Managing Director of its pension services division.  

A federal judge in Massachusetts has thrown out the remaining claim in a stock drop lawsuit against State Street Corp.

FirstFed Financial Corp. employees have filed a stock-drop suit alleging the bank kept company stock in its employee-stock ownership plan (ESOP) after it was no longer prudent to...

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) announced a series of enforcement actions to protect more than $7 million for workers in retirement plans or...

A settlement of $4.5 million has been preliminarily approved by a federal court in a consolidated class action lawsuit against Diebold, Incorporated.

The U.S. District Court for the Southern District of New York ruled in favor of an employer sued for its use of a year-old stock valuation when making...

Lawyers representing Labor Secretary Hilda L. Solis have asked the 9th Circuit to overturn a three-judge panel's decision embracing the “presumption of prudence” standard often seen in employer...

C&K Market Inc. agreed to restore $3 million in cash plus interest and to sell property in order to make restitution for a series of imprudent loans made...

Lawyers involved in a stock drop lawsuit against IndyMac Bancorp announced a $7 million settlement.

A federal judge in New York threw out a stock-drop lawsuit against the American Express Company.

The U.S. Department of Labor (DoL) sued the owner of a defunct landscaping company for allegedly paying operating expenses using employee contributions to the company’s savings incentive match...

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.