Compliance

The Department of Labor announced judgments against a pair of plan sponsors to restore employees’ retirement plan contributions after ERISA fiduciary breaches.   

The complaint alleged that the plaintiff met the test for employee status per prior case law, but that Yum! impermissibly misclassified him as an independent contractor.

The district court’s order promptly concludes that the plaintiffs have sufficiently stated a claim for breach of fiduciary duty.

It identifies changes in the requirements of Section 403(b) of the Internal Revenue Code that the agency will take into account during the second remedial amendment cycle.

The defendants are accused of failing to remit employee contributions to the company 401(k) profit sharing plan.

The defendants are accused of using the company's 401(k) plan to prop up its mutual fund business. 

In denying a motion to dismiss, a federal judge said he had been waiting on the Supreme Court’s ruling in Hughes v. Northwestern University.

The lead plaintiffs’ attorney says the Supreme Court has confirmed that it is the employer’s obligation, not the employee’s, to make sure funds in the plan are prudent...

The suit also alleges plan fiduciaries allowed for excessive recordkeeping fees to be charged to participants.

The new ruling states that Tibble v. Edison’s discussion of the continuing duty to monitor plan investments applies in the Hughes v. Northwestern University case.

Both lawsuits argue that the index suit of the target-date funds would have been a better option for plan participants.

An order filed in an excessive fee lawsuit against Baptist Health South Florida says the 403(b) plan in question effectively agreed to arbitration on behalf of the plaintiff.

A federal court certified a class of trustees, sponsors and administrators of all ERISA employee benefit plans that owned variable annuity contracts via John Hancock’s Signature platform.

A new lawsuit alleges that plan sponsors at the health care facility breached their fiduciary duties.

Former non-union employees of the auto parts maker sought to overturn the Pension Benefit Guaranty Corporation’s decision to terminate their pension plan.

Alongside confirming that the payment has now gone out to Local 138, PBGC this week announced it has approved a second application for emergency pension funding.

In court filings last week, fiduciaries of retirement plans at PPL Corp. and Mass Brigham General were accused of failing to ensure fees were reasonable.

A lawsuit alleges that the poor performance of a suite of target-risk funds resulted in a nearly $250 million loss to participant accounts.

Lisa Gomez, the candidate to serve as the DOL’s assistant secretary for the Employee Benefits Security Administration, will now face a vote in the full Senate.