A District Court judge dismissed BNY Mellon from an ERISA lawsuit, leaving defendants Alight Solutions and the Colgate-Palmolive employee relations committee.
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
The plaintiff has alleged excessive fees for recordkeeping, administrative services and investment management against a large university plan in a new fiduciary breach lawsuit.
The district court declined to rule on the reasonableness of comparing actively managed funds to passively managed index funds on a motion to dismiss, clearing the way for discovery and potentially a full trial.
A fiduciary to the Southside Manufacturing Corp. Retirement 401(k) Savings Plan will pay restitution of $87,276 for stealing from an employee benefit plan, and failing to pay federal taxes.
An appellate court found a divorce decree met all the requirements of a QDRO under ERISA.