Siemens Forfeiture Case Dismissed
The company’s energy division still faces a separate complaint that was filed last week.
Tag: ERISA
Complaint Alleges ERISA Breaches by Siemens Energy
The plaintiffs accuse the company of excessive recordkeeping fees and managed account charges, poor-performing funds and using forfeitures to offset...
Complaint Alleges Franklin Templeton Investments Cost Participants Millions
Three plan participants alleged 75% of the retirement plan’s $1.6 billion in assets under management was invested in poor-performing, low-rated,...
Latest Plan Forfeiture Complaint Adds New Angle
Filing after the Department of Labor’s amicus brief, Illinois plaintiffs allege that a grocery company violated its fiduciary duty by...
ERISA Complaint Alleges Mismanaged Plan Cost Participants $100M
Two former employees of Nokia North America allege that the company failed to replace poorly performing funds.
DOL Finds Citi’s Racial Equity Program Unlawful, Rescinds Previous Opinion
The Department of Labor announced its 2023 advisory opinion no longer reflects its views.
DOL Backs Companies on 401(k) Plan Forfeiture Complaints
In filing an amicus brief on an appeal involving HP Inc., the Department of Labor offered guidance on an issue...
Pentegra to Pay $48.5M Settlement in Fiduciary Breach Case
The parties agreed to a settlement higher than the $38.8 million that was included in a prior deal in April,...
Supreme Court Asks for Solicitor General Input in Parker-Hannifin 401(k) Fees Case
The case, originally filed in 2021, alleges the company violated ERISA by retaining target-date funds that were high cost and...
Supreme Court to Hear Multiemployer Pension Plan Withdrawal Liabilities Case
Justices will decide how much flexibility actuaries have when calculating how much companies must pay when withdrawing from a multiemployer...
Benefits |
What Can the DC Universe Learn From Annuities in 403(b) Plans? It’s Complicated
The products are complex for various reasons, but recent regulatory changes and potential demand are expected to continue driving plan...
Pending Bill Brings CITs Closer to Reality for 403(b) Plans
Industry proponents expect the legislation would lower costs and broaden investment menus for sponsors and participants.
Court Rules in Favor of Natixis in ERISA Complaint
Following a two-week trial, the judge ruled that the defendants had not breached their fiduciary duty by acting in their...
Daniel Aronowitz Approved by Senate Committee as EBSA Head
Trump’s nominee will now face a full Senate vote to lead the Department of Labor agency tasked with enforcing the...
ERISA Lawyers Weigh In on Recent Cases, Aronowitz Confirmation
Plan sponsors continue to face a flurry of legal action, but the nominee to head EBSA has pledged to cut...
Blue Cross Blue Shield of Michigan Sued for Alleged ERISA Violations
A complaint by Wesco Inc. claims BCBSM exploited self-funded health plans by charging fees to fix its own billing errors,...
Federal Judge Dismisses J.P. Morgan 401(k) Funds Forfeiture Case
The complaint had accused the company of breaching its fiduciary duties and engaging in prohibited transactions.
National Rural Electric Cooperative Hit With ERISA Complaint; UnitedHealth Finalizes $69M Settlement
Retirement plan participants alleged the service organization engaged in prohibited transactions, while the health care giant agreed to pay a...
Cigna Hit With 2nd ERISA Complaint Over Alleged Misuse of 401(k) Plan Forfeitures
A separate lawsuit was filed against the health care company in May, as similar cases continue.
Senators Introduce Legislation to Increase Retirement Savings Participation
The bill would allow periodic automatic reenrollment in workplace retirement plans for workers who opt out of contributions.