Court Rejects Barnabas Retirement Plan Fiduciaries’ Motion to Dismiss Lawsuit
A federal judge found that the plaintiffs had sufficiently pleaded their claims in the suit alleging excessive retirement plan fees.
Compliance
DOL Releases Its First Cybersecurity Guidance
The guidance includes best practices and tips for protecting retirement benefits.
DOL Issues Guidance for Investors, Plans on Investment Advice Exemption
It sets forth questions an investor can ask potential advice providers and information to help them understand the purpose of each question.
Allianz Targeted by Raytheon in Fiduciary Breach Lawsuit
The complaint suggests Allianz abandoned a hedging strategy that was the supposed cornerstone of an investment fund utilized by the Raytheon pension plan, resulting in unexpected losses.
Potential Pitfalls in Union Pension Relief Program
The relief included in the latest stimulus program is a major win for stressed union pensions, but sources say there are some challenging hurdles yet to jump.
Judge Sides With Principal Life Insurance in GIC Lawsuit
A federal judge found Principal’s ‘meticulous’ process for setting the GIC’s composite crediting rate protected the availability of the investment and was in the best interest of participants.
Brenntag Settles Excessive Fee Lawsuit
The agreement is solely monetary and doesn’t include provisions to remedy the alleged breaches of the defendants.
Interpreting Prudence and Loyalty Under ERISA
ERISA attorneys explain the meaning behind both terms and what plan fiduciaries can do to meet the requirements.
IRS Reveals Retirement Plan Compliance Initiatives
The agency plans to examine worker classifications, RMDs in large DB plans and participant loans, as well as do a compliance check about partial plan termination and partial...
PBGC Simplifies Withdrawal Liability Calculation for Multiemployer Pension Plans
The agency expects the changes will reduce actuarial fees paid by multiemployer plans, but it admits the simplified methods might not reduce the withdrawal liability assessed on employers.
Settlement Details Published in Jander v. IBM
Prior to settlement, the long-running stock drop lawsuit received multiple appellate court rulings and consideration from the U.S. Supreme Court.
Wesco Distribution Faces Lawsuit Over Retirement Plan Services Fees
Among other things, the plaintiffs contend that prudent fiduciaries monitor and limit revenue sharing and make sure excessive indirect compensation is rebated to plan participants.
Judge Finds ERISA Claims Sufficient Against Coca-Cola Bottler
The case, which challenges the use of an actively managed TDF suite rather than its index version, will move forward.
ICON Clinical Research Sued for Excessive Fees
The text of the new complaint closely resembles others from the increasingly well-known law firm Capozzi Adler, which has filed numerous ERISA excessive fee lawsuits in the past...
Claims Over Fidelity’s Use of Participant Data Dismissed
A federal judge determined participant data is not considered plan assets, meaning Fidelity was not a fiduciary with regard to the claims.
Plan Sponsor and Provider Must Still Face Claims in Suit Over Investments Switch
More claims were moved forward for the investment consultant than for the plan sponsor.
BlackRock Agrees to Settle ERISA Dispute
The underlying lawsuit questions fees paid by participants in BlackRock’s own retirement plan.
Stimulus Bill Includes Executive Compensation Changes That Might Affect NQDC Plans
The legislation changes the Internal Revenue Code so that more top earners’ compensation won’t be deductible.
Nextep MEP Sued for Excessive Fees
The lawsuit takes particular issue with the use of higher-cost share classes and revenue sharing.
How This Year’s Plan Financial Audit Could Be Different
Auditors might be reviewing more transactions and processes, and they’ll need more time to handle audits remotely.