In a case alleging George Washington University violated ERISA fiduciary duties with regard to retirement plan fees, a federal judge found the plaintiff had waived her right to sue in a previous agreement.
Tag: retirement plan litigation
Participants allege Adidas’ decision-making, monitoring and soliciting bids from investment funds was deficient
According to plaintiffs in a new ERISA lawsuit, the pension plan in question was underfunded by nearly $6 billion dollars when its assets and liabilities were transferred to a spinoff company.
This was one of Fidelity's arguments in a memorandum to support its motion to dismiss a consolidated lawsuit alleging it is receiving “secret” or “kickback” payments from providers on its FundsNetwork platform.
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and breached ERISA in the selection of poorly performing investments offered by an affiliate company.
As the complaint points out, the Society of Actuaries has published some five updates to its mortality assumptions since the mortality table used by defendants was published way back in 1971.
Of that amount, $395,000 will go to class counsel, and there were no conditions of change to plan design or processes in the settlement agreement.
The affirmation once again shows how influential has been the Supreme Court’s 2014 decision known as Fifth Third v. Dudenhoeffer. It also presents an interpretation of how Fifth Third interacts with another significant SCOTUS decision known as Tibble v. Edison.
The ERISA fiduciary duty requires fiduciaries to act with prudence, not prescience, a court said.
Crucial to the case is the fact that the pension plan is not facing insolvency, raising the question of whether retirees can prove concrete harms occurred which are necessary for establishing ERISA standing.
In addition to a multi-million dollar monetary settlement, MFS has agreed to certain plan design changes moving forward.
The Employee Retirement Income Security Act (ERISA) does not actually define "actual knowledge" required by participants who file fiduciary breach cases, and U.S. Circuit Courts are split on the issue.
A judge ordered the Archdiocese of San Juan to pay $4.7 million to teachers whose pension plan had been terminated, and the Archdiocese claims that since then, the Puerto Rico government has seized assets from entities not related to the plan.
The denial of leave to file an amended complaint by a district court judge offers a brief lesson in Federal Rules of Civil Procedure.
The appellate court found that the facts alleged are insufficient to support a plausible inference of breach of fiduciary duty, and the Supreme Court seemingly agrees.
A federal court judge found a severance agreement was broad enough to cover Employee Retirement Security Act (ERISA) claims against the trustee of an employee stock ownership plan (ESOP).
Schlichter says many participants in retirement plans pay lower fees for investments and recordkeeping as a result of ERISA litigation; others ask whether plan sponsors’ fear of lawsuits has stifled innovation.
In recent months, writs of certiorari have been filed with the Supreme Court in four cases involving tax qualified defined contribution plans.
The lawsuit accuses the sponsor of a small 401(k) plan with failing to monitor and correct excessive fees.