Tag: Participant Lawsuits

The richly detailed text of the complaint shows multiple individuals are accused of defrauding Great-West and depositing ill-gotten assets in a variety of U.S. banks, resulting in fraud...

Siding with the district court, the 3rd Circuit ruled simply that “plan participant bargaining power … is not a substantive element of a top-hat plan.”

SIFMA says it has a strong interest in clarifying the fiduciary obligations of investment managers in selecting and managing investment options in retirement plans governed by ERISA.

The lawsuit also says plan fiduciaries failed to use lower cost investment vehicles and made inadequate disclosures to participants about fees.

The plaintiffs challenge three features of the 2012 amendment: the change to the crediting rate; the introduction of potential for risk and volatility into the plan; and variations...

The self-dealing lawsuit filed against Franklin Templeton levels similar claims to other class-action challenges filed by employees of well-known financial services providers. 

The consolidated litigation alleges the firm invested its stable value funds in risky assets, causing losses to retirement plan participants.

The lawsuit concerns the offering of investment options management by General Electric Asset Management.

The original complaint accuses the plan and its administrative and investment committees of self-dealing, causing excessive fees to be charged by service providers and mismanaging the plan’s emerging...

A judge disagreed with Ford Motor Company retirement plan participants that Xerox is a fiduciary because it had discretion over the amount of compensation it received from Financial...

Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned by decisions.

Interpreting and applying a series of detailed recommendations from a magistrate judge, the district court will allow some parts of the litigation against MIT’s retirement plan fiduciaries to...

The Phillips 66 retirement plan committee has been sued for allowing ConocoPhillips stock funds to be included in the plan's investment lineup.

The Eight Circuit Court of Appeals has backed the decision of a lower court to summarily dismiss a lawsuit filed by participants in an over-funded defined benefit plan...

The case is among a number filed that challenge the “church plan” status of a health care entity’s retirement plan.

In a world of heightened fiduciary scrutiny, plan sponsors need to pay close attention to the language of fiduciary insurance policies.

ERISA attorneys and practice leaders give their take on the intense political grappling that has become the norm in Washington under a Republican majority.

Broker/dealers (B/Ds) can address new regulatory pressures, and new competition, by enhancing their value proposition and embracing technology, a report by Cerulli suggests.

The plaintiffs’ allegations regarding what they allege to be an excessive amount of investment options was summarily tossed by the court, which cites a number of important recent...

Although the court dismissed claims regarding risky investments in TDFs and participant fee disclosure failures, Verizon still faces a charge regarding an underperforming investment.