Northrop Grumman Agrees to Settle Pension Benefit Estimate Complaint
The settlement puts the protracted legal case to a conclusion after nearly seven years of litigation.
Tag: ERISA
Plaintiffs in Long-Lasting Intel Complaint Appeal to Supreme Court
The Supreme Court already ruled on a separate part of the case in 2020 and will have to decide whether...
How 3(38) Fiduciaries Limit, but Don’t Erase, Plan Sponsor Liability
A case involving Caesars Holdings shows how 3(38) fiduciaries can protect plan sponsors from ERISA litigation—but also that they still...
Litigation Challenges Booming PRT Market, But Plan Sponsors Push Ahead
Despite a flurry of lawsuits challenging pension risk transfers, plan sponsors remain committed to shedding defined benefit liabilities — viewing...
Magistrate Judge Recommends Dismissing PRT Case Against Allegheny Technologies
The complaint concerning the transfer of $1.5 billion in pension obligations lacks standing, according to the recommendation.
Cornell Case Heads Back to District Court
The Supreme Court’s most significant retirement industry ruling of the year will have a new hearing that takes into consideration...
Fiduciary Liability Critical in Russell Investments ERISA Case
A judge dismissed plaintiffs’ complaints against plan sponsor Caesars Holdings but allowed complaints against the fiduciary investment manager to move...
Duke University Hit With Forfeiture Complaint
The plaintiffs allege that the institution breached its fiduciary duty by choosing not to use forfeited funds to reduce plan...
Law Firm Faces Fine for Sharing Confidential Information With DOL
Common interest agreements between legal firms and the Department of Labor have attracted prior criticism but they are less likely...
Judge Dismisses AT&T PRT Case, Says Plaintiffs Have Standing
The Massachusetts court accepted the recommendations of a magistrate opinion from last month, but the suits may be amended and...
Trump Accounts: ‘Baby’ IRAs With Big Questions
The funds are intended to support education, home purchases or new businesses, but not until participants turn 18.
Judge Lets Core Claims Proceed in PRT Case Against Bristol-Myers Squibb
A similar case, also involving annuity provider Athene Annuity and Life Co., was dismissed earlier this week by the same...
Capital One to Settle 401(k) Forfeiture Case
The parties entered into mediation before a ruling had been made on Capital One’s motion to dismiss the case; the...
Judge Dismisses PRT Lawsuit Against GE
General Electric Co. faced the complaint from former participants following a 2020 pension risk transfer conducted with Athene.
Judge Allows National Rural Electric Cooperative Fiduciary Breach Case to Continue
Participants of the retirement plan alleged years of financial mismanagement and self-dealing in NRECA’s 401(k) Pension Plan.
Judge Approves $7.9M Settlement in ERISA Case Against GWA
The complaint, tied up in court for two years, challenged the proprietary investments in the hedge fund manager’s retirement plan.
DOL Sides With Morgan Stanley: Deferred Pay Is a Bonus
The agency concluded that the firm’s deferred compensation program is not subject to ERISA.
IBM Faces Complaint Over $14B in PRTs to Prudential
A former employee alleges that the technology company and its fiduciary, State Street, jeopardized participants’ retirement savings.
Employer Groups Push Court to Toss PRT Case
The ERISA Industry Committee, American Benefits Council and others filed an amicus brief urging a district court to dismiss the...
RTX Faces ERISA Complaint, Knight-Swift Settles
RTX Corporation faces allegations of mismanaging retirement plan assets while Knight-Swift is moving toward a settlement in an excessive fee...