Federal Court Orders Millions of Dollars Restored to Connecticut Health and Retirement Plans
The decision follows an investigation by the DOL.
Tag: ERISA
Princeton Agrees to No Fee Increase, Among Other Things, in Lawsuit Settlement
What the settlement agreement calls ‘therapeutic relief’ also includes conducting an RFP process, creating rules for how often committees meet...
Revenue Sharing Questioned in New Quest Diagnostics Lawsuit
Among other arguments, the ERISA fiduciary breach complaint suggests fiduciaries “should not choose otherwise imprudent investments specifically to take advantage...
8th Circuit Affirms Wells Fargo’s Win in Stock Drop Challenge
The plaintiffs failed twice to meet the so-called ‘Dudenhoeffer pleading standard’ before the U.S. District Court for the District of...
Digital Ruling in John Hancock ERISA Suit Reflects the Times
A judge has denied John Hancock’s motion to dismiss the self-dealing lawsuit but did not submit a written order.
Sutter Health Facing 403(b) Excessive Fee Suit
The allegations mirror those of other recently filed cases against both 401(k) and 403(b) plans.
Minnesota Engineering Firm Files 401(k) Lawsuit Against Matrix Trust Co.
The lawsuit accuses Matrix of unlawfully retaining fees and interest through nondisclosure and concealment.
Koch Industries Charged With Excessive Recordkeeping Fees
The plaintiffs suggest the firm’s fiduciary failures were either from lack of a prudent process or from interest in getting...
Parties Bow Out of Case Challenging DB Plan Calculations
The case against American Airlines is one of several alleging that the use of outdated mortality tables in determining DB...
ERISA Complaint Filed Against Biogen
The complaint points to 2018 as an example year, suggesting that a significant percentage of funds in the plan at...
Filing of Excessive Fee Suits Continues With Allegations Against Matthews International
One distinguishing feature in an otherwise boilerplate complaint is the pointed criticism of the plan’s recordkeeper, despite the fact that...
Goldman Sachs Fails to Get ERISA Self-Dealing Suit Dismissed
A federal judge found claims by a participant in the Goldman Sachs 401(k) plan sufficiently plead imprudence and disloyalty.
Wawa ERISA Fiduciary Breach Lawsuit Settlement Revealed
The class action settlement agreement includes $21.6 million in cash payments, with no admission of wrongdoing by the plan’s fiduciaries.
Health Care Organization Faces 403(b) Excessive Fee Suit
Much of the complaint is dedicated to discounting the use of an actively managed TDF suite rather than a less...
Judge Roundly Rejects CareerBuilder ERISA Lawsuit
The text of the dismissal ruling relies heavily on precedent set by the United States 7th Circuit Court of Appeals.
Use of Relatively New CITs Challenged in Second Lawsuit
The lawsuit also calls out the use of an investment manager’s proprietary actively managed funds and the plan sponsor’s failure...
Court Orders Parties to Scale Back Northrop Grumman ERISA Settlement
The parties’ proposed settlement agreement impermissibly releases claims that go beyond the scope of the allegations in the operative complaint.
Fidelity Agrees to Settle 401(k) Self-Dealing Suit
The lawsuit accused plan fiduciaries of using the plan as an opportunity to promote Fidelity’s mutual fund business at the...
Use of Fidelity Active Management Funds Questioned in Court
Multiple lawsuits have been filed recently that question the offering of active management funds to retirement plan participants.
Back to the Fiduciary Future?
Analysts say the Department of Labor is officially reinstating the “five-part test” for determining fiduciary status.