Tag: ERISA
Appellate Court Rejects Bank of America Participants’ Claim for More Relief
Noting that the bank already made restitution to the participants under an IRS closing agreement, the 4th Circuit agreed with...
Deutsche Bank Self-Dealing ERISA Suit Partly Dismissed
The mixed ruling grapples with binding circuit court guidance and reaches quite different conclusions regarding various allegations of prohibited transactions...
Signs of Annuity Market Stabilization After DOL Fiduciary Rule Derailment
Data from Morningstar demonstrates variable annuity net assets fell 1.6% to $1.95 trillion during the first quarter of 2018, versus...
New Claim Added to Vanderbilt University 403(b) Plan Lawsuit
The new claim is related to the defendants’ alleged failure to protect plan assets by allowing third parties to market...
Invesco Accused of Self-Dealing in 401(k)
Plaintiffs allege the firm added poorly performing proprietary mutual funds to their plan.
Second Stock Drop Complaint Against Edison International Dismissed
A federal district court judge found that additional allegations that alternatives to continuing to offer the company stock would lead...
Non-Electing Church Plans Subject to Some Pre-ERISA Requirements
Non-electing church plans are exempt from the Employee Retirement Income Security Act (ERISA) provisions pertaining to participation, coverage, and vesting;...
Court Orders Independent Plan Fiduciary for Cambridge Technology Group
The DOL found the company's president and CEO did not process any distribution requests submitted by 401(k) plan participants, among...
University of Chicago Settles 403(b) Plans Excessive Fee Suit
In addition to a monetary payment, the university has agreed to structural changes to its 403(b) plans.
Plan Sponsor Interpretation Must Be Given Deference in Lawsuits Challenging Plan Terms
The 6th Circuit noted that Firestone Tire & Rubber Co. v. Bruch, in which an arbitrary-and-capricious standard of review is...
District Court Admits Error in ERISA Lawsuit Ruling
The district court’s new decision comes after its previous move denying defendants’ motion for summary judgment against plaintiffs’ claims, which...
ERISA Litigation Targets Lowe’s, Aon Hewitt Investment Consultants
Participants in the Lowe’s 401(k) plan have filed an ERISA complaint against their employer and Aon Hewitt Investment Consultants over...
Opinions |
Barry’s Pickings: Keeping Employers in the 401(k) System: Fixing 401(k) Fee Litigation
Michael Barry, president of the Plan Advisory Services Group, delves into fee litigation assumptions—and what is wrong with them.
Fiduciary Compliance and Best Practices
Fred Reish, partner at Drinker, Biddle and Reath, told attendees of the Plan Sponsor Council of America 71st Annual National...
Prison Sentences Handed Down in DOL ERISA Fraud Case
According to the DOL and FBI, two former executives of First Farmers Financial produced false documents and sent them to...
Judge Rules on DOL ESOP Challenge with Mixed Results
The mixed decision comes after DOL moved for summary judgement; the defendants responded by moving to exclude key testimony from...
Court Finds DB Plan Change Does Not Violate ERISA or ADEA
Northern Trust amended its benefit formula in 2012 and provided a transitional benefit that assumed salary increases of 1.5% per...
(b)lines Ask the Experts – Record Retention for Governmental 403(b) Plans
“It is my understanding that retirement plans under the Employee Retirement Income Security Act (ERISA) are required to keep documents...
Former Committee Members Not Free from Church Plan Challenge
Former committee members for the pension plan of St. Elizabeth Medical Center moved to have themselves dismissed from a lawsuit...