Some SunTrust Stock Drop Claims Thrown Out
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...
Tag: ERISA
Fiduciary Proposal Shows EBSA Getting with the Times
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.”
DoL Broadens Fiduciary Net
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...
DoL Sues Money Managers over Madoff Losses
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...
National Law Firm Adds Employee Benefits Attorney
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...
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...
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.