Experts say COVID-19 could open the door to new a new category of ERISA lawsuits.
Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.
The primary distinction is that sponsors can design safe harbor plans to avoid having to perform nondiscrimination and top-heavy testing.
One insurer says the more than $1 billion in settlements thus far could make fiduciary insurance a thing of the past.
As with similar litigation, the company’s 401(k) plan fiduciaries are accused of failing to take measures to ensure reasonable recordkeeping and investment fees.
In the case over alleged excessive fees in the B. Braun Medical retirement plan, the judge moved forward claims for breach of duty of prudence but tossed claims...
The IRS updates its Operational Compliance List periodically to reflect new legislation and IRS guidance, and it reflects that many provisions of the SECURE Act are in effect.
The suit had charged the Navy defense contractor with selecting mutual funds with an average expense ratio of 0.81% when funds costing 0.41% were available.
In addition to a $14 million payment, the defendants agreed to retain an independent third-party investment consultant to review investment options in the plan, among other things.
It would allow retirement plan participants and IRA holders to take money out of their accounts tax-free.
The Supreme Court’s review could answer the question of what qualifies as a plausible claim for relief in DC plan excessive investment and recordkeeping fee suits.
Court documents did not specify the status of negotiations with defendant Lowe’s Cos., but claims against Aon Hewitt Investment Consulting will move forward.
The president appears to want to pave the way for more ESG investing in retirement plans.