Judge Consolidates Franklin Templeton Self-Dealing ERISA Lawsuits, Rejects Dismissal Motions
According to multiple underlying complaints, which can now proceed to a consolidated trial, all of the several dozen mutual funds...
Tag: ERISA
Fiduciary Governance Group Launched by Stradley Ronon
The fiduciary governance group is designed to counsel investment committees and service providers, with a focus on avoiding and responding...
DOL Announces Fiduciary Seminar in Rhode Island
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
(b)lines Ask the Experts – What or Who is a ‘Named Fiduciary’?
“Recently the recordkeeper who is taking over administration of our Employee Retirement Income Security Act (ERISA) 403(b) plan from a...
NYU Asks to Exclude Certain Evidence from Trial in 403(b) Plans Case
The university also asks that the plaintiffs not be able to attempt to use evidence that their prudent measures and...
Edward Jones Fails to Win Dismissal of Self-Dealing Suit
The defendants argued that a court decision in a self-dealing lawsuit against Wells Fargo supports their motion to dismiss their...
Plan Fiduciary Ordered to Pay Restitution for Stealing From 401(k)
According to the DOL, the fiduciary failed to remit employee contributions to the plan and used the funds instead for...
Former CEO of Pharmaceutical Benefits Management Company Sentenced for Kickback Scheme
The CEO pled guilty last year for paying illegal kickbacks to producers in an effort to steer employee health benefit...
TPA Faces Another Lawsuit for Stealing Retirement Plan Assets
The lawsuit filed by MBA Engineering on behalf of its 401(k) and cash balance plans also accuses Vantage Benefits, MBA's...
Aon Hewitt Defeats ERISA Claims Regarding Financial Engines Partnership
The central claim in the failed class action was that plaintiffs were forced to overpay significantly for advisory services; defendants...
Tough Process Questions Raised by Fifth Circuit Fiduciary Rule Decision
To help ease the immediate concerns and confusion of clients, the law firm Stroock has published a helpful guide that dissects...
Circuit Courts’ Conflict on DOL Fiduciary Rule Could Persist
The fact that two U.S. Circuit Courts of Appeals, the Fifth and the Tenth, have issued conflicting rulings about the propriety of...
Circuit Court Ruling to Vacate DOL Fiduciary Extends Regulatory Uncertainty
In issuing a strong ruling to vacate the DOL fiduciary rule expansion, the Fifth U.S. Circuit Court of Appeals is...
SunTrust Agrees to Settlement in Long-Running ERISA Suit
In addition to a monetary payment of $4.75 million, the bank agreed to non-monetary terms regarding payment and vesting of...
Connecticut State Treasurer Makes Compelling Case for ESG
An open letter penned by Connecticut State Treasurer Denise Nappier presents an articulate defense and endorsement of ESG investing programs—in...
Allegations Against Northrop Grumman Pared Down in Excessive Fee Suit
Complaints against individual defendants, however, were not dropped.
ERISA Does Not Preempt State ‘Slayer’ Laws
Citing other courts, an appellate court agreed that “Congress could not have intended ERISA to allow one spouse to recover...
Plaintiffs Win Class Certification in NYU 403(b) Lawsuit
A district court found plaintiffs met the requirements of ERISA Rule 23(a) and the class is maintainable under at least...
DOL Reaches Settlement for Plans Affected by Fraudulent Loans
U.S. Fiduciary Services and three of its subsidiaries agreed to provide payment of more than $7 million to 42 retirement...
Using Hours of Service to Calculate Eligibility
“Our firm sponsors an Employee Retirement Income Security Act (ERISA) 403(b) plan that has a two-year service requirement (100% vested...