Compliance | March 30th, 2020 Trial Ordered for Anheuser-Busch ERISA Lawsuit The complaint echoes other cases challenging actuarial assumptions used in calculating DB plan benefits.
Compliance | March 30th, 2020 Fiduciary Failures Affirmed in Fidelity Self-Dealing Challenge A new district court ruling finds Fidelity liable for certain fiduciary breaches in the operation of its own retirement plan,...
Compliance | March 27th, 2020 Lawsuit Over Asset-Based Fees for Nationwide’s Retirement Plan Program Dismissed The parties say they have reached a confidential settlement resolving all claims.
Compliance | March 26th, 2020 Lawsuit Accuses Nationwide of Trying to Profit From 401(k) Investment The complaint says plan fiduciaries failed to negotiate fixed-interest contract terms for the 401(k) that were as good as the...
Compliance | March 26th, 2020 Appellate Court Adds Color to Northwestern University’s ERISA Suit Win Throughout the 7th Circuit’s decision, it contends the plaintiffs put forth their own opinions and preferences rather than evidence of...
Compliance | March 25th, 2020 Central States Wins Lawsuit Over Kroger Withdrawal It was the documented process of the multiemployer plan trustees’ considerations of withdrawal proposals by Kroger that helped them win...
Compliance | March 19th, 2020 Insurance Company to Pay $3 Million to ESOP for Alleged Share Overpayment The DOL alleges that the company’s president influenced an appraiser’s valuation and the ESOP’s trustee didn’t do his due diligence...
Compliance | March 18th, 2020 Judge Moves Forward Suit Over Walgreen Plan TDF Mismanagement The judge rejected the defendants’ argument that the complaint cannot be based solely on the funds’ underperformance but must contain...
Compliance | March 17th, 2020 New Lawsuit Accuses Wells Fargo 401(k) Plan Fiduciaries of Self-Dealing Motives behind keeping higher cost, underperforming funds in plan alleged in the lawsuit include providing seed money for Wells Fargo...
Compliance | March 16th, 2020 Union Plan Member’s Lawsuit Over Unfunded Benefit Liabilities Dismissed The lawsuit was previously dismissed because the alleged breach of fiduciary duty involved the amendment of plan benefits, which is...
Compliance | March 16th, 2020 BOK Financial Accused of Only Self-Interest When Selecting and Retaining 401(k) Plan Funds Underlying investments in funds using BOK’s CIT structure, as well as the use of BOK’s proprietary money market fund, are...
Compliance | March 13th, 2020 Salesforce Accused of Fiduciary Imprudence in New ERISA Lawsuit Case documents show Salesforce has actually changed some of the practices that are criticized in the complaint, but the plaintiffs...
Compliance | March 13th, 2020 Mediation Leads to $29M Settlement in SunTrust ERISA Litigation The underlying lawsuit alleged that SunTrust Bank’s 401(k) plan engaged in corporate self-dealing at the expense of plan participants.
Compliance | March 11th, 2020 Lawsuit Arguing ERISA Preemption of CalSavers Dismissed A federal court judge found no impermissible reference to or connection with ERISA plans in the statute establishing California’s state-run...
Compliance | March 11th, 2020 Invesco Agrees to Pay Nearly $3.5 Million to Settle Self-Dealing Claims The firm has also agreed to offer non-proprietary ETFs in its 401(k) plan’s self-directed brokerage account.
Compliance | March 9th, 2020 Teva Pharma Argues DC Plan Fiduciaries Acted Prudently Defendants in an excessive fee case point to an appellate court decision that found "the fact that fiduciaries did not...
Compliance | March 6th, 2020 ERISA Lawsuit Challenging CenturyLink Fund Choices Dismissed The decision emphasizes that the use of hindsight to judge the prudence of fiduciaries’ investment decisions is impermissible under ERISA.
Compliance | March 4th, 2020 Class Action ERISA Fiduciary Breach Lawsuit Targets Evonik Similar to the plethora of ERISA excessive fee fiduciary breach lawsuits that have been filed in recent years, this one...
Compliance | March 3rd, 2020 DOL Announces Know Your Fiduciary Responsibilities Webcast Series Contents of the DOL’s Getting It Right – Know Your Fiduciary Responsibilities seminar will be presented via three different webcast...
Compliance | March 3rd, 2020 Former Pension Fund Trustee to Pay $462K for Embezzlement The trustee embezzled approximately $186,123.93 from the plan, as well as knowingly and willingly failed to file a required annual...