Compliance | January 14th, 2020 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.
Compliance | January 14th, 2020 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...
Compliance | January 10th, 2020 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...
Compliance | January 7th, 2020 Settlement Announced in Case About Forcing Participants Out of ESOP The case has been stayed until the parties can draft the settlement agreement.
Compliance | January 6th, 2020 2020 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Compliance | January 6th, 2020 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...
Compliance | January 3rd, 2020 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...
Compliance | January 3rd, 2020 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.
Compliance | January 2nd, 2020 Wilmington Trust Agrees to Settle ESOP Lawsuit It has agreed to pay $5 million into a settlement fund.
Compliance | December 31st, 2019 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.”
Compliance | December 31st, 2019 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...
Compliance | December 26th, 2019 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...
Compliance | December 26th, 2019 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.
Compliance | December 19th, 2019 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...
Compliance | December 19th, 2019 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...
Compliance | December 9th, 2019 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.
Ask the Experts | December 3rd, 2019 Improving Readability of Participant Fee Disclosures Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations.
Compliance | November 27th, 2019 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.
Compliance | November 26th, 2019 Supreme Court Denies Review of Case About Annuity Contracts in Retirement Plans The plaintiff said Great-West’s conduct in setting the credited rate of its Key Guaranteed Portfolio Fund violates ERISA’s clear rules...
Compliance | November 18th, 2019 Participants Say Sutherland’s 401(k) Fees Aren’t Reasonable Among other issues, the plaintiffs allege the defendants “failed to properly minimize the reasonable fees and expenses of the plan.”