A former Nissan employee made a valid claim for benefits and did not fail to exhaust his administrative remedies, the court said.
A federal judge has found it plausible that DuPont was misleading, based on benefits notices sent to the former participant.
The retirees’ main claim is that the plan’s use of mortality tables from 1971 and 1983 to convert default retirement benefits into the alternative benefits that they opted to receive constitutes unreasonable actuarial assumptions.
Some claims against Konica Minolta and its 401(k) committee were moved forward but all claims against the company’s board were dismissed.
The complaint includes allegations similar to those in many suits filed over the past few years.
The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.
The retirement plan in question in the suit is substantially smaller than many of those that have faced or settled similar lawsuits, and thus the size of the settlement is also reduced.
A district court judge has denied the defense’s motion to dismiss without offering any explanations for his reasoning in court documents.
A judge found there was no evidence that fiduciaries of B. Braun Medical's retirement plan violated ERISA's duty of loyalty, but he denied dismissal of claims for breach of duty of prudence.
The defendants have agreed to a $14 million payment and to procedural changes.
U.S. attorneys argue the Court of Appeals’ decision in a case against Northwestern University is incorrect and conflicts with decisions made by the 3rd and 8th Circuits in similar cases.
A court document shows the investment consultant and the plaintiff were unable to reach a settlement agreement.
Participants in the State Street Salary Savings Program say their employer has engaged in self-dealing within the retirement savings plans.
Plaintiffs in a new ERISA lawsuit say Caesars Entertainment allowed Russell Investments to pack its plan with proprietary investment options, to the disadvantage of plan participant outcomes.
The settlement agreement also includes non-monetary provisions related to bids for administrative services and share class selections for investments.
The suit alleges that defendants used the plan to increase their own revenue and seed new funds.
The lawsuit alleges fiduciary breaches related to ensuring reasonable administrative and investment fees.
A court dismissed claims regarding KeyCorp plan’s stable value fund option but moved forward some claims regarding excessive administrative and managed account fees.
The district court roundly rejected the defense’s dismissal motions, ruling that the plaintiffs have sufficiently alleged that fiduciary breaches may have occurred.
The complaint says fees charged to participants in the plan were "grossly excessive" because they were not based on the services provided.