Health Care Organization Faces 403(b) Excessive Fee Suit
Much of the complaint is dedicated to discounting the use of an actively managed TDF suite rather than a less...
Tag: ERISA
Judge Roundly Rejects CareerBuilder ERISA Lawsuit
The text of the dismissal ruling relies heavily on precedent set by the United States 7th Circuit Court of Appeals.
Use of Relatively New CITs Challenged in Second Lawsuit
The lawsuit also calls out the use of an investment manager’s proprietary actively managed funds and the plan sponsor’s failure...
Court Orders Parties to Scale Back Northrop Grumman ERISA Settlement
The parties’ proposed settlement agreement impermissibly releases claims that go beyond the scope of the allegations in the operative complaint.
Fidelity Agrees to Settle 401(k) Self-Dealing Suit
The lawsuit accused plan fiduciaries of using the plan as an opportunity to promote Fidelity’s mutual fund business at the...
Use of Fidelity Active Management Funds Questioned in Court
Multiple lawsuits have been filed recently that question the offering of active management funds to retirement plan participants.
Back to the Fiduciary Future?
Analysts say the Department of Labor is officially reinstating the “five-part test” for determining fiduciary status.
Lawsuit Says Plan Fiduciaries Should Have Chosen Less Expensive CITs
Though the majority of investment options for Estee Lauder’s 401(k) are CITs, the lawsuit argues the TDFs are more expensive...
Costco’s Use of Actively Managed Funds in 401(k) Plan Lineup Called Out in Lawsuit
The warehouse club is also accused of breaching ERISA fiduciary duties by allowing the plan to pay ‘unreasonably high’ recordkeeping...
DOL Seeks Stricter Limits on ESG Investing Under ERISA
The proposed regulation would “confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely...
IBM Stock Drop Lawsuit Remanded Back to District Court
The 2nd U.S. Circuit Court of Appeals has re-established its previous ruling in favor of the plaintiffs.
Retirement Plan Sued Over Special Valuation After March Market Crash
The plaintiffs in the lawsuit were waiting on distributions of their account valued at the end of last year when...
Lack of Index Funds Cited in Latest ERISA Lawsuit
The Oshkosh Corp. is accused of permitting excessive recordkeeping fees and inappropriately favoring expensive active management funds in its retirement...
Neuberger Berman 401(k) Plan Committee Agrees to Settle ERISA Suit
Prior to reaching the settlement agreement, the Neuberger Berman Value Equity Fund was removed as an investment option in the...
Excessive Recordkeeping Fees Alleged in KeyCorp ERISA Challenge
The complaint alleges that KeyCorp has failed to take advantage of recordkeeping market competition and the associated drop in average...
Fidelity Self-Dealing Case to Go to Trial on Zoom
In a letter filed in court, attorneys for the parties suggested ways to help streamline the trial and to eliminate...
Universal Health Faces Familiar ERISA Excessive Fee Claims
Among other alleged fiduciary violations, the defendants are accused of failing to consider lower cost collective trusts as alternatives to...
5th Circuit Affirms Lower Court’s Rejection of Phillips 66 ERISA Challenge
Like the district court ruling in the case, the appeals court says the plaintiffs have failed to adequately state an...
Can the DOL Effectively Police Pension Fiduciary Breaches Alone?
One attorney suggests the Supreme Court’s opinion in Thole v. U.S. Bank ‘pushes the ability of participants in a defined...
Parties in Emory University 403(b) Plan Lawsuit File Settlement Agreement
In addition to paying $16.75 million, the settlement agreement calls for a review of investments and a recordkeeping request for...