Tag: Participant Lawsuits

Ameriprise Financial has agreed to settle a closely watched Employee Retirement Income Security Act (ERISA) suit, Krueger v. Ameriprise Financial, for $27.5 million in plan reimbursements and remedies.

A federal district court has ruled float income is not a retirement plan asset belonging to participants.

A pension plan participant who claims he didn’t receive promised credit for service can proceed with his lawsuit. 

The U.S. Supreme Court may take up important fiduciary liability questions related to a “reverse stock-drop” case leveled against a major tobacco producer.

Implications of two litigation outcomes in June 2014 depend on the type of employee stock ownership plan an employer offers.

Multinational pharmaceutical company Sanofi is being investigated for possible ERISA violations after continuing to offer company stock as a retirement plan investment option, despite alleged knowledge that it...

An employer’s failure to notify employees that their pension assets were transferred to another plan resulted in a court ruling that it owed pension benefits to employees.

A federal court has ordered a fiduciary to repay $300,000 to a number of pension plans, for which the Department of Labor sued over misuse of assets.

A group of retirees should not have received a lump-sum payment from a nonqualified plan at a change in control because they were not “participants” as defined by...

The U.S. Supreme Court heard oral arguments Tuesday in a case considered by many to be the first example of excessive 401(k) fee litigation to reach the nation’s...

A $62 million settlement between Lockheed Martin and participants in its 401(k) plan brings to rest a nearly decade-old complaint arguing Lockheed failed to adequately negotiate for lower...

Northern Trust wants to put an end to litigation that has been ongoing since 2009.

A lawsuit filed by a former Banco Popular de Puerto Rico (BPPR) employee claiming his monthly pension benefit was substantially lower than the amount promised during his working...

Defined contribution retirement plan sponsors are subject to many risks, which ultimately put a company’s reputation at risk, experts at Sibson Consulting note.

A lawsuit claims retirement plan provider and asset manager Aegon USA caused superfluous fees to be charged to its own retirement plan.

The IRS has suggested a list of helpful internal controls for retirement plan sponsors.

A recent $140 million fiduciary breach settlement involving Nationwide Financial should be a call to action for retirement specialist advisers, says David Witz of Fiduciary Risk Assessment LLC.

The SEC has charged Standard & Poor’s with fraudulent ratings conduct related to ratings of mortgage-backed securities.

A PIMCO Total Return Fund investor lawsuit calls into question compensation paid to former co-chief investment officers and co-chief executive officers Mohamed El-Erian and Bill Gross.

The surviving spouse of a fully vested participant in a FedEx pension plan claims she is being unlawfully denied a survivor annuity benefit owed to her by the...