Tag: Participant Lawsuits

The plan sponsor in the case was criminally prosecuted and pled guilty to embezzlement in June 2016.

In addition to alleging the St. Louis-based university allowed the plan to charge excessive fees, the lawsuit alleges the plan's loan program violated ERISA prohibited transaction rules.

Two years of litigation and negotiation later, the parties have reached a proposed agreement to settle the class action, valued at $25 million.

Selecting, retaining and failing to remove expensive group-affiliated investment options generated significant revenue for Capital Group and its subsidiaries, the lawsuit says.

The proposed class action suit includes many of the classic claims typically leveled in ERISA stock-drop litigation. 

The first of two ERISA actions filed against Northrop Grumman in a California district court has been resolved, while the second is still pending. 

Three long-time ERISA attorneys all agreed that there is just about as much retirement-focused litigation ongoing today as they have ever seen at any point in their careers.

The Supreme Court has ruled plans maintained by principal-purpose religious organizations are eligible for the church-plan exemption, whatever their origins.

U.S. District Judge Phyllis J. Hamilton in the U.S. District Court for the Northern District of California found that for repeated claims the plaintiffs failed to correct the...

A federal judge called comparisons to other funds insufficient, and noted that funneling participant investments into a default fund is normal.

The lawsuit alleges United of Omaha breached its ERISA duties by improperly exercising its discretionary authority “to maximize its own compensation and retain large profits rather than crediting...

The university is also accused of approving a TIAA loan program that required excessive collateral as security for repayment of the loan, charged grossly excessive fees for administration...

Some ownership transitions are designed to wring every last dollar possible out of the business, but this is simply not what ESOPs are about.

Plan sponsors from across the U.S. will gather in Washington D.C. next month for the annual PLANSPONSOR National Conference—presenting a tremendous opportunity for client networking and shared problem...

The lawsuit claims FedEx did not properly calculate pension benefits and contributions as required by the Uniformed Services Employment and Reemployment Rights Act (USERRA).

The complaint describes in detail guaranteed investment contracts offered by the Principal to retirement plans, which plaintiffs suggest permitted conflicts of interest and prohibited transaction.

While several claims were dismissed, several were allowed to move forward.

A federal judge agreed with the 403(b) plan participants on many points, but agreed with Emory University that offering a wide range of investment options does not hurt...

The settlement agreement delivers millions of dollars in compensation to TIAA employees, as well as non-monetary settlement provisions, while insulating the firm from further claims along these lines.