
District Court Dismisses ERISA Lawsuit Against USI
The complaint alleged breach of fiduciary duty obligations under the Employee Retirement Income Security Act.

Retirement Plan Lawsuit Against Veterinary Hospital Network to Proceed
A court has rejected the plan sponsor’s motion to dismiss breach of fiduciary duty allegations.

Salesforce Retirement Lawsuit to Continue
A federal appeals court judge’s ruling reversed and remanded the case after motions to dismiss were granted by lower court rulings

Some 403(b) Plan Sponsors Don’t Have Information Needed to Monitor Fees
A GAO study found a wide range in 403(b) plan recordkeeping and investment management fees.

Insurer Calls Majority of Excessive Recordkeeping Fee Claims ‘Bogus’

Revenue Sharing Considerations: Fees and Fiduciary
Advisers must monitor the plan and perform benchmarking to assess reasonableness of fees.

PPL Corp. and Mass Brigham General Face ERISA Lawsuits
Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.

Bronson Healthcare to Pay $3 Million to Settle ERISA Lawsuit
The lawsuit challenged the use of an active suite of TDFs versus an index suite, among other things.
Lawsuit Alleges ERISA Breaches by Fiduciaries of Nokia of America 401(k) Plan
Plan fiduciaries face a breach of duty of prudence claim over allegedly excessive investment and recordkeeping fees.

Will the Supreme Court Give Plan Sponsors Any Relief From Excessive Fee Lawsuits?

Exelon Faced With ERISA Excessive Fee Suit
The lawsuit claims Exelon used proprietary funds with excessive fees and allowed participants to pay excessive fees for recordkeeping and managed account services.

Some Claims Dismissed in LinkedIn Excessive Fee Suit
However, the judge has granted the plaintiffs leave to amend the ERISA complaint.
Morningstar Finds ESG Funds Are More Expensive Than Conventional Funds
In general, fund fees continue to decline, including those of actively managed funds.

Chamber of Commerce Calls Out Flaws in Excessive Fee Suits
In a brief of amicus curiae filed in the suit against the Red Cross, the agency claims the suits are harming plan participants and asks the court to apply careful scrutiny in the case.

Suit Over Recordkeeping Fees for PNC Financial’s Retirement Plan Dismissed
A court found that the plaintiffs did not state a plausible claim for breach of fiduciary duties. They have already filed an amended complaint.

Baptist Health South Florida Faces ERISA Excessive Fee Suit
The claims are typical of excessive fee suits, but the plaintiffs also cite language from the 403(b) plan's investment policy statement and say plan fiduciaries didn't follow it.

2nd Circuit Sends Elements of NYU ERISA Suit Back to District Court
The appellate court agreed with the plaintiffs that the lower court erred in dismissing share class-related claims and in denying them leave to amend the suit to add more defendants.

Xerox Hit With ERISA Suit Alleging Excessive Fees
The complaint claims participants overpaid millions of dollars to Xerox’s recordkeeper from 2015 through 2021.

Participants Challenging Omnicom’s Use of Active TDF Suite See Most Claims Move Forward
A judge left until later the issue of whether passively managed funds and actively managed funds are proper comparators.

401(a) Plan Sponsor’s Use of Asset Allocation Solution Challenged in Lawsuit
The suit says the solution directed participant contributions into high-cost investments.