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.
Lawsuit Alleges Choice of Target-Risk Funds Caused Losses to Participants
Milliman has been accused of failing to remove poorly performing investments, subadvised by its affiliate, from its 401(k) plan.
District Court Advances TriNet ERISA Lawsuit
The denial of the defense’s dismissal motion opens the door for either trial or settlement in an ERISA lawsuit that includes a set of fiduciary breach claims that are similar to those filed against many U.S. employers and plan sponsors.
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.
Judge Dismisses Most Claims in Intel ERISA Lawsuit
The new ruling, filed in favor of the defendants, is just the latest action in what has been a long-running series of complaints and cross motions involving Intel’s retirement plan.
Plaintiffs Refile ERISA Lawsuit, Adding Adviser to Defendant List
The plaintiffs in an ERISA fiduciary breach lawsuit known as Fleming v. Rollins Inc. have refiled their complaint in federal court, this time also proposing claims against multiple financial advisory firms that serve their retirement plan.
Plaintiff’s Severance Agreement Doesn’t Stop ESOP Lawsuit
The defendants’ motion for summary judgment, based on the release of claims and their contention that the plaintiff didn’t suffer an injury, was denied.
Plaintiffs Refile ERISA Complaint Against Prudential
The original lawsuit was dismissed in September, but the plaintiffs were given time to file an amended complaint, which they have now done.
Natixis ERISA Lawsuit Clears Early Dismissal
Like the many other ERISA lawsuits filed against large financial service providers, the complaint alleges that the defendants failed to administer the plan in the best interest of participants and failed to employ a prudent process.
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.
Voya Faces ERISA Complaint Targeting Its Own Plan
Among other allegations, the plaintiffs claim Voya engaged in an imprudent process while selecting and retaining proprietary target-date funds and a stable value option.
Legislative and Judicial Actions
Retirement Plan Participant Claims Harm From Transamerica Data Breach
In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of participants in plans it serves.
Will the Supreme Court Give Plan Sponsors Any Relief From Excessive Fee Lawsuits?
Northwestern University Supreme Court Argument Analysis
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.
ERISA Suit Dismissal Shows How Claims Can Fall Short
The district court accepted a magistrate judge’s recommendation and dismissed the case based on the plaintiffs’ failure to state an actionable claim regarding the retirement plan fees they pay.
DOL Seeks Information From Alight Solutions About Cybersecurity Incidents
Alight has been sued by retirement plan participants whose accounts were hacked, and the Department of Labor is investigating the provider's practices.
Plaintiffs File ERISA Excessive Fee Lawsuit Against VCA
The lawsuit claims the veterinary hospital network’s retirement plan, which has more than $500 million in assets, should have paid lower fees for recordkeeping and administrative services.
Latest Capozzi Adler ERISA Suit Targets Olin Corp.
The allegations in the new lawsuit are familiar, suggesting the plan fiduciaries permitted the payment of excessive recordkeeping and investment fees over a lengthy proposed class period.