Tag: retirement plan litigation

The defendants’ motion to dismiss has been denied.

Microsoft is the latest target in a string of lawsuits over the performance of a popular TDF suite.

One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent weeks are the ‘most outrageous’ the industry has ever seen.

Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.

The text of the ruling takes just 13 pages to note that the facts of the case, as pleaded, are sufficient in the eyes of the court to warrant a discovery process and potential trial.

Case documents show the parties engaged in extensive negotiations before reaching a proposed $1.1 million settlement agreement.

The new complaint also suggests the company and its retirement plan fiduciaries permitted the payment of excessive recordkeeping fees.

The large medical-device-manufacturing organization is facing familiar fiduciary breach allegations in federal court in Indiana.

Yet another employer has been sued by plaintiffs represented by the law firm Capozzi Adler.

The judge’s opinion sides firmly against the arguments made by the plaintiffs in the case, who are among the many litigants currently represented by the law firm Capozzi Adler.

One expert who works on the fiduciary insurance side of the retirement plan industry calls the appellate ruling ‘the best decision ever written in an excessive fee case,’ and one which could dissuade other plaintiffs in similar cases.

While the prevalence of settlements in ERISA cases means fewer legal conclusions have been drawn by the courts than one might expect, certain important lessons about fiduciary duties are emerging.

Retirement benefit plans have deep pockets—filled with both assets and sensitive information—so it only makes sense that they are a growing target for cyberthieves.

The plaintiffs are seeking to remedy alleged failures by an IBM pension plan to pay joint and survivor annuity benefits in amounts that are ‘actuarially equivalent’ to a single life annuity benefit.

The dismissal order grants the plaintiffs, who are represented by the law firm Capozzi Adler, two weeks to file an amended complaint regarding certain portions of the proposed class action suit.

The complaint includes not just allegations of excessive fees, but also a charge that fiduciaries offered an underperforming stable value fund.

The plaintiffs in the suit, who have already sued their plan sponsor, are now bringing a service provider into the litigation.

A settlement has been struck in an ERISA lawsuit involving the New Jersey-based health care provider a little more than a year after a judge allowed the case to proceed past the defense’s motion to dismiss.

Though the court previously allowed class certification in the case, a new order firmly rejects the plaintiffs’ arguments that they were entitled to certain foreign tax rebates generated by group variable annuity contracts they had signed.