Excessive Fee Cases Continue With Lawsuit Against Cerner Corporation
The ERISA complaint includes familiar allegations that retirement plan fiduciaries failed to manage or monitor plan recordkeeping and investment fees.
Tag: retirement plan litigation
Supreme Court Declines to Review Question About Dudenhoeffer Pleading Standards
A former employee of SunEdison Semiconductor LLC claimed that the 8th Circuit “discarded the core lesson of Dudenhoeffer and imposed...
Supreme Court Remands IBM v. Jander Stock Drop Challenge
The Supreme Court has issued a limited ruling in a case that could have had a big impact on the...
Northrop Grumman Agrees to Settle 401(k) Excessive Fee Suit
The defendants have agreed to pay a gross settlement amount of $12,375,000 to resolve all claims.
Court Ends Dispute of Proper Remedy in Amara v. Cigna
A federal district court has refused to reconsider its ruling that Cigna is carrying out its orders correctly in the...
Supreme Court Will Not Weigh In on Burden of Proof and Index Fund Comparison
The denial will let a 1st U.S. Circuit Court of Appeals decision stand, which the Investment Company Institute previously said...
Assumptions for Withdrawal Liability Cannot Be Changed and Applied Retroactively
“The selection of an interest rate assumption after the Measurement Date would create significant opportunity for manipulation and bias” by...
Chemical Distributor’s U.S. DC Plan Subject of Excessive Fee Suit
The plaintiffs suggest that the task of evaluating investments has become simpler for plan fiduciaries and that prudent fiduciaries will...
Judge Tosses Church Plan Lawsuit Against Adventist Health System
Basically, the plaintiff never alleged an injury from the DB plan operating as exempt from ERISA requirements.
Lawsuit Against Trade Association’s 401(k) Plan Moves Forward
National Rural Electric Cooperative Association, previously subject of a DOL investigation, is facing a lawsuit regarding excessive fees and prohibited...
Settlement Announced in Case About Forcing Participants Out of ESOP
The case has been stayed until the parties can draft the settlement agreement.
403(b) Litigation Offers Instruction for Plan Sponsors
403(b) plan sponsors should be aware of how their plan investments and fees stack up and of their fiduciary responsibilities,...
Advisory Firm Settles ERISA Litigation
Jeffrey Slocum & Associates will pay some $500,000 into a settlement account in exchange for a release of all ERISA...
ERISA Fiduciary Breach Lawsuit Targets Trader Joe’s
Trader Joe’s retirement plan committee is accused of failing to seek competitive bids for recordkeeping, among other alleged fiduciary breaches.
Wilmington Trust Agrees to Settle ESOP Lawsuit
It has agreed to pay $5 million into a settlement fund.
Opinions |
Barry’s Pickings: Retirement Policy 2019 Report Card: B+/A-
Michael Barry, president of O3 Plan Advisory Services LLC, rates how actions of Congress, regulators and the courts have or...
ERISA Class Action Complaint Targets Ardent Health Services
One unique feature of the complaint is a short discussion of Sageview Advisory Group being a “non-defendant fiduciary.”
M&T Bank to Pay Nearly $21 Million to Settle Self-Dealing Suit
In addition, the bank has agreed to an independent review of funds in its 401(k) plan and to issue a...
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...
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.