Excessive Fee Cases Continue With Lawsuit Against Cerner Corporation
The ERISA complaint includes familiar allegations that retirement plan fiduciaries failed to manage or monitor plan recordkeeping and investment fees.
Tag: ERISA
Supreme Court Declines to Review Question About Dudenhoeffer Pleading Standards
A former employee of SunEdison Semiconductor LLC claimed that the 8th Circuit “discarded the core lesson of Dudenhoeffer and imposed...
Northrop Grumman Agrees to Settle 401(k) Excessive Fee Suit
The defendants have agreed to pay a gross settlement amount of $12,375,000 to resolve all claims.
Supreme Court Will Not Weigh In on Burden of Proof and Index Fund Comparison
The denial will let a 1st U.S. Circuit Court of Appeals decision stand, which the Investment Company Institute previously said...
Chemical Distributor’s U.S. DC Plan Subject of Excessive Fee Suit
The plaintiffs suggest that the task of evaluating investments has become simpler for plan fiduciaries and that prudent fiduciaries will...
Settlement Announced in Case About Forcing Participants Out of ESOP
The case has been stayed until the parties can draft the settlement agreement.
2020 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
IRS Cites Additional Supreme Court Guidance in Granting Church Plan Status
The agency’s response to an entity requesting church plan status for its retirement plan offers its interpretation of relevant Internal...
Advisory Firm Settles ERISA Litigation
Jeffrey Slocum & Associates will pay some $500,000 into a settlement account in exchange for a release of all ERISA...
ERISA Fiduciary Breach Lawsuit Targets Trader Joe’s
Trader Joe’s retirement plan committee is accused of failing to seek competitive bids for recordkeeping, among other alleged fiduciary breaches.
Wilmington Trust Agrees to Settle ESOP Lawsuit
It has agreed to pay $5 million into a settlement fund.
ERISA Class Action Complaint Targets Ardent Health Services
One unique feature of the complaint is a short discussion of Sageview Advisory Group being a “non-defendant fiduciary.”
M&T Bank to Pay Nearly $21 Million to Settle Self-Dealing Suit
In addition, the bank has agreed to an independent review of funds in its 401(k) plan and to issue a...
Past Practices Cited in ERISA Lawsuit Against Plan Sponsors
Although the complaint notes that the defendants acted to replace higher-cost share classes with lower-cost ones in 2019, it says...
ERISA Lawsuits and Decisions that Defined 2019
The year delivered major settlements and decisions in retirement-plan focused lawsuits, including some precedent-setting appellate and Supreme Court rulings.
UPenn Seeks Supreme Court Voice in University Retirement Plan Lawsuits
The university says the high court should re-establish the pleading standard it previously set, as well as issue a decision...
Multiple Fiduciary Breaches Alleged in Cintas ERISA Challenge
Among other issues, the plaintiffs allege that defendants failed to utilize the lowest cost share class for many of the...
Intel Case Parties Present Different Sides About ‘Actual Knowledge’ to Supreme Court
There was substantial discussion of Intel’s argument about how the statute of limitations provision read when ERISA was originally written.
Improving Readability of Participant Fee Disclosures
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations.
Settlement Announced in Invesco Self-Dealing Suit
Though Invesco previously prevailed in the lawsuit, the plaintiff was in the process of filing an amended complaint.