Overfunding Makes Challenge to DB Plan Management Moot
In the years following the filing of a lawsuit against U.S. Bank, it has made changes to its DB plan investing practices that have resulted in the plan...
Tag: Participant Lawsuits
SCOTUS Passes on ERISA Plan Lawsuit Venue Case
The Supreme Court has denied a petition to review a case about restriction-of-venue clauses in retirement plan documents related to ERISA challenges—based not on the weakness of appellees’...
Court Relieves JP Morgan of Stock Drop Claims
A lawsuit brought by participants in JP Morgan’s 401(k) plan alleging imprudence in keeping company stock in the plan was dismissed under the new Supreme Court standard.
'Largely Unpredictable' Which Clients Could be Sued by Participants
One attorney specializing in ERISA litigation suggests the pace of lawsuits has increased fairly substantially in the last year, with signs of even more momentum in 2016.
New Year Brings Familiar DC Plan Litigation Actions
Two new large retirement plan fee complaints have already emerged in the first week of 2016, highlighting the substantial amount of fiduciary litigation risk still faced by plan...
NQ Plan Sponsor to Pay for Failing to Withhold FICA Taxes
Henkel Corp. has agreed to pay more than $3.3 million to nonqualified plan participants for not withholding FICA taxes from their plan contributions.
3rd Circuit Reiterates Only Churches Can Establish Church Plans
The court is the first of the appellate courts to rule on recent church plan litigation.
Court Refuses to Apply New Test for Top Hat Plans
The court rejected the argument that “bargaining power” of participants is a requirement for a plan to be considered a “top hat” plan.
Court Looks Beyond Simple Meaning of Church Plan
Catholic Health Initiatives has won a lawsuit challenging its pension plan's church-plan status.
DC Plan Litigation Landscape Still Heating Up
The end of 2015 has seen an expanding range of retirement plan litigation cases, notes ERISA attorney David Levine.
Suit Says Fidelity Mismanaged Stable Value Fund
Fidelity was trustee to the 401(k) plans in question, but the lawsuit says it failed to monitor its affiliate in the day-to-day management of the funds.
SCOTUS Case Could Reshape ERISA Liens and Damages
ERISA attorney Nancy Ross explains the potential outcomes of Montanile v. Board of Trustees, a low-flying but potentially important Supreme Court case testing the difference between damages and...
Plan Sponsor Procedural Errors Rebuked by Appeals Court
A federal appeals court found easy grounds for approving a default judgement levied against a plan sponsor whom effectively ignored participants’ claims regarding delinquent employer contributions.
Changes ‘Could Happen Soon’ to Fiduciary Rule
Lawmakers and industry reps are concerned with where the proposal is heading, what’s in it and how fast it’s moving.
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A Look Back at 2015
When you think back on 2015 and what happened in the retirement plan industry, what will come to mind?
State Street’s Handling of GM Stock for 401(k) Gets Court Blessing
After much back and forth, an appellate court has finally dismissed a lawsuit against State Street Bank and Trust Company over its handling of the employee stock ownership...
Novant Health Agrees to Settle Excessive Fee Suit
However, in a statement of non-opposition filed with the court, Novant said it disagrees with the claims.
Duty to Monitor Fiduciaries Does Not Include Duty to Inform
BP has won dismissal of several claims that it failed to monitor fiduciaries who oversaw company stock investments in its retirement plans.
Does the Intel Retirement Plans Case Have Merit?
PLANADVISER reached out to Marcia Wagner, principle with Wagner Law Group in Boston, for comments about the case.