Past Practices Cited in ERISA Lawsuit Against Plan Sponsors
Although the complaint notes that the defendants acted to replace higher-cost share classes with lower-cost ones in 2019, it says...
Tag: ERISA
ERISA Lawsuits and Decisions that Defined 2019
The year delivered major settlements and decisions in retirement-plan focused lawsuits, including some precedent-setting appellate and Supreme Court rulings.
UPenn Seeks Supreme Court Voice in University Retirement Plan Lawsuits
The university says the high court should re-establish the pleading standard it previously set, as well as issue a decision...
Multiple Fiduciary Breaches Alleged in Cintas ERISA Challenge
Among other issues, the plaintiffs allege that defendants failed to utilize the lowest cost share class for many of the...
Intel Case Parties Present Different Sides About ‘Actual Knowledge’ to Supreme Court
There was substantial discussion of Intel’s argument about how the statute of limitations provision read when ERISA was originally written.
Improving Readability of Participant Fee Disclosures
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations.
Settlement Announced in Invesco Self-Dealing Suit
Though Invesco previously prevailed in the lawsuit, the plaintiff was in the process of filing an amended complaint.
Supreme Court Denies Review of Case About Annuity Contracts in Retirement Plans
The plaintiff said Great-West’s conduct in setting the credited rate of its Key Guaranteed Portfolio Fund violates ERISA’s clear rules...
Participants Say Sutherland’s 401(k) Fees Aren’t Reasonable
Among other issues, the plaintiffs allege the defendants “failed to properly minimize the reasonable fees and expenses of the plan.”
Mediation May Resolve SunTrust Bank ERISA Challenge
The parties have requested that the district court stay all proceedings and deadlines pending the outcome of a mutually agreed...
Plaintiffs Say AutoZone Breached ERISA Through Prudential’s GoalMaker
AutoZone plan fiduciaries are accused of permitting Prudential to steer an excess of assets towards its own proprietary products via...
Full 9th Circuit Passes on Review of Schwab Arbitration Ruling
Experts wondered whether the full 9th Circuit would reconsider a potentially influential pro-arbitration ruling issued recently by a three-judge panel....
Prudential Faces ERISA Self-Dealing Allegations in New Lawsuit
According to the complaint, by selecting Prudential-affiliated funds, the fiduciary defendants placed Prudential’s interests above the plan’s interests.
Attorneys Argue Plan Disclosures May Not Provide Actual Knowledge of Wrongdoing
In a brief to the Supreme Court, U.S. attorneys disagree with the implication that retirement plan participants actually know all...
Evolving Best Practices: Recordkeeping Fees
Per participant or asset-based? Each approach has its merits, but is one preferable under the Employee Retirement Income Security Act’s...
Greystar ERISA Fee Challenge Will Be Individually Arbitrated
Following some important appellate and Supreme Court decisions, it is “no longer good law” to presume as a general matter...
Plaintiffs Left With Only One Claim in CenturyLink ERISA Case
CenturyLink seems to be off the hook regarding a specific fund offered in its 401(k), but its investment management company...
$18.1M MIT Fiduciary Breach Lawsuit Settlement Includes RFP Process
Among the non-monetary elements of the settlement is a requirement to conduct a recordkeeping RFP process that will result in...
Morgan Stanley Prevails in ERISA Lawsuit
In dismissing the case a federal judge said, “ERISA does not require clairvoyance on the part of plan fiduciaries” and...
Criticism of DOL E-Delivery Proposal Misses the Mark, Experts Say
“We think there will be cost savings from e-delivery and that these cost savings will be passed on to individual...