TriNet ERISA Lawsuit Latest to Clear Dismissal Motion
The lawsuit, like many others filed by plaintiffs represented by the law firm Capozzi Adler, also suggests the plan sponsor has failed to use the lowest-cost share classes...
Compliance
Agreement Reached in T. Rowe Price Proprietary Funds Lawsuit
The firm has agreed to pay $7 million and offer a brokerage window providing participants with access to nonproprietary funds.
Settlement Agreement Filed in Another Excessive Fee Lawsuit
The defendants in a lawsuit against Bronson Healthcare will pay $3 million to settle charges of ERISA violations.
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Sponsors can craft retirement plan document language to manage their exposure to claims for benefits and other Employee Retirement Income Security Act claims.
Intel Prevails Again in ERISA Lawsuit
In considering the plaintiffs’ various claims, the ruling sides firmly with the defense on all but one allegation.
Courts Expand on Rules Regarding the Protection of Retirement Plan Assets
Attorneys say the court opinions inform planning decisions in the cases of divorce or job changes.
Finalized Form 5500 Changes Add Little to Plan Sponsors’ Responsibilities
While plan sponsors will need to ensure the form contains accurate data, many of the proposed changes to the 2021 Form 5500 were not finalized.
New Defendants Added in Refiled ERISA Complaint
The text includes an extensive number of related allegations against the plan’s adviser and sponsor, including allegations that suggest the plan sponsor and adviser made imprudent investment decisions...
DOL Recovers Money for ESOP Participants
The Department of Labor ordered the former trustee to restore $8.4 million and plan fiduciaries to restore nearly $1 million to the ESOP.
Pacific Life Fined for Unlicensed PRT Business
A penalty was assessed after a New York State Department of Financial Services investigation uncovered violations of state insurance law.
ESOP Sponsor Settles Allegations of ERISA Violations With the DOL
Mohawk Hospital Equipment will transfer $431,000 worth of stock to participants and pay a fine.
DOL Publishes Informational Copies of 2021 Form 5500
Among other notable changes, the Form 5500 instructions have been amended to make clear that a pooled employer plan is a multiple employer plan that files a single...
Plaintiffs Allege ERISA Breach Against Chicago Consultant
A new complaint claims that West Monroe ESOP participants who sold stock in the company did not receive fair market value from company distributions.
Court Denies Summary Judgment for Lawsuit Against ESOP Fiduciaries
The judge found that while the plaintiff might have released all his claims with a separation agreement, the lawsuit was filed on behalf of the plan and the...
Student Loan Repayment Freeze Extended Until May
The Department of Education says the extension will allow the Biden administration time to assess the impacts of the Omicron coronavirus variant on student borrowers and provide borrowers...
PBGC Greenlights Funds for First Special Assistance Application
The first approved application is from a multiemployer pension plan that was projected to become insolvent by 2022.
Plaintiffs Try Again in Prudential ERISA Lawsuit
The new amended complaint seeks to provide more detail about 14 different investment options allegedly offered in the plan and which the plaintiffs say should have been removed...
Dismissal Motion Fails in Natixis ERISA Lawsuit
The lawsuit, now cleared for discovery, claims that a proclivity for proprietary mutual funds has cost plan participants millions of dollars in excess fees.
DOL Clarifies Stance on Private Equity Investments in DC Plans
The supplemental statement refines its June 2020 information letter on including private equity investments in participant-directed retirement savings plans.
Nokia of America Among Latest Targets of ERISA Excessive Fee Suits
The lawsuit against the company claims that, in some cases, expense ratios for the plan’s funds were 364% above the median.