Court Decision in PBGC Suit Shows Sponsors Have Ultimate Fiduciary Liability
“IHI cannot delegate fully its statutory responsibilities under ERISA,” a federal judge says in her opinion.
Tag: ERISA
Class Representatives Say J.P. Morgan Lawsuit Settlement Is Not Enough
Last month, J.P. Morgan agreed to pay $75 million to settle litigation accusing it of investing stable value funds in...
Union Fund Hit With Excessive Fee Suit
Similar to many excessive fee lawsuits filed against single-employer plans, the complaint accuses a multiemployer plan of failing to leverage...
Investment Committee Quiz Reveals Fiduciary Knowledge Shortfall
The results of a fiduciary primer quiz survey prove once again that institutional investing can be a tricky topic for...
Appeals Court Sides with UPMC in Top-Hat Plan Dispute
A recent appellate court decision underscores the important differences in anti-cutback vesting requirements that exist between “top-hat” plans and retirement...
Wells Fargo 401(k) Participant Files Excessive Fee, Self-Dealing Suit
Throughout the complaint, the plaintiff alleges that the plan’s fiduciaries’ lack of a systematic and unbiased review process caused participants...
DOL Provides Relief for Hurricane Maria, Wildfire Victims
The guidance for ERISA retirement and health plans follows relief provided by the IRS.
NYU Participants File Second Excessive Fee Complaint
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
DOL Reaches Triple Settlement With First Bankers Trust
The DOL alleged in all three cases that the firm approved transactions without undertaking the due diligence required of an...
Democrats Pledge to Protect Union Pensions
House and Senate Democrats hope to pass legislation to “put union pension plans back on solid footing,” but their bicameral...
Nordstrom Faces 401(k) Plan Excessive Fee Suit
The lawsuit suggests Nordstrom should have offered managed accounts or collective investment trusts to participants in its 401(k) plan.
Franklin Templeton Faces Familiar Self-Dealing Allegations
The suit alleges that defendants “breached their fiduciary duties by causing the plan to invest in funds offered and managed...
Appellate Court Affirms Top Hat Plan Change in Crediting Rate
The court found nothing in the plan document prevented the board of the Computer Sciences Corporation Deferred Compensation Plan for...
Fiduciaries of MEWA Barred for Failing to Pay Medical Claims
Employer and employee contributions to the multiple employer welfare arrangement were found in offshore Bermuda accounts.
Second Lawsuit Filed Against GE for Self-Dealing in 401(k)
The lawsuit accuses General Electric 401(k) plan fiduciaries of violating ERISA by offering and failing to monitor funds in the...
Northrop Grumman Excessive Fee Case Moves Forward
Noteworthy about the case is that a challenge to fees provided to the recordkeeper via an arrangement with Financial Engines...
DOL Fiduciary Rule Enforcement Delay Under Review at OMB
Until the final rule’s publication in the Federal Register, the exact details and length of the second enforcement delay will...
Xerox Wins Dismissal of Suit Over Financial Engines Offering
Neither Xerox nor Financial Engines were acting in a fiduciary capacity relating to their fee arrangement, a court found.
Phillips 66 Retirement Plan Faces Suit Over Inclusion of Former Parent Stock
Not only does the lawsuit claim ConocoPhillips stock does not meet ERISA’s definition of “employer securities,” but it says participants...
Trump Eying Top Aide to Sen. Hatch for Lead EBSA Role
The future head of EBSA would play a substantial role in the fate of the fiduciary rule.