Tag: Participant Lawsuits

Participants in a Northrop Grumman retirement plan are just the latest to file a lawsuit alleging their employer willingly paid excessive provider fees—seeking to certify a class of...

Among all the highly informative breakout sessions at PLANADVISER National Conference, the most popular again this year includes the panel “Lessons Learned From Litigation.”

An Employee Retirement Income Security Act (ERISA) lawsuit filed by participants in a Chevron Corporation defined contribution (DC) plan has been dismissed after a hearing before the U.S....

A participant in Safeway Inc.’s 401(k) plan is suing the plan sponsor, its benefits committee and its recordkeeper for breaching their fiduciary duties and/or engaging in ERISA prohibited...

Employees of HP Inc. and United Airlines filed suit over treatment of returns and interest on “float income” generated by cash in transit. 

Plan officials are accused of steering participants into investments that charged improper amounts of revenue-sharing and other fees that benefitted the mutual fund partners of Edward Jones. 

Key aspects of the ERISA-based complaint are back under consideration in light of the Supreme Court's 2014 decision in Fifth-Third Bancorp vs. Dudenhoeffer.

A complaint filed in a Pennsylvania district court by the DOL’s Employee Benefits Security Administration alleges a list of ERISA infractions related to fees, documents, disclosures and processes...

The lawsuit also says there were investment options other than proprietary options that underperformed and charged excessive fees.

As with the previous lawsuits, the complaints call out the large number of investment options offered to participants, high expenses for these investment options and the use of...

Attorneys point out that 403(b) plans have distinctions from 401(k) plans that cause them to have a different model.

Another law firm has joined in the filing of lawsuits against major universities' 403(b) plan designs.

All lawsuits accuse major universities of not using their bargaining power to get lower fees for recordkeeping and investments.

In a complex but informative ruling, a federal judge describes why many aspects of an ERISA complaint leveled against Allianz Asset Management should be allowed to proceed to...

According to the compliant, the university failed to use the plan’s bargaining power, causing the plan to pay “unreasonable and greatly excessive fees for recordkeeping, administrative, and investment...

The California Secure Choice Retirement Savings Program has received a lot of positive press for bringing much-needed attention to a difficult policy issue—but others warn the program could...

The appellate court voted to review en banc its previous decision in the excessive fee lawsuit.

A district court compelled arbitration for a spouse seeking the full benefits in her deceased husband's 401(a) and 403(b) plans.

In addition to cash payments, the settlement agreement also includes agreed upon provisions relating to plan administration.