$17.5M Settlement Reached Over ‘Too Conservative’ Plan Investments
The plan’s investment policy statement allegedly called for 70% of the plan’s assets to be allocated into domestic fixed income...
Tag: Fees
Another Health Care Provider Accused of ERISA Breaches
Barnabas Health is the latest to face class action allegations filed by the law firm Capozzi Adler.
Lack of Index Funds Cited in Latest ERISA Lawsuit
The Oshkosh Corp. is accused of permitting excessive recordkeeping fees and inappropriately favoring expensive active management funds in its retirement...
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LT Trust Simplifies Fee Schedule, Enhances Service Suite
The low-cost retirement plan provider says its new fee structure is designed to promote understanding and transparency.
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.”
Evolving Best Practices: Recordkeeping Fees
Per participant or asset-based? Each approach has its merits, but is one preferable under the Employee Retirement Income Security Act’s...
Amended Complaint Coming in Neuberger Berman ERISA Suit
The judge determined that the plaintiffs’ allegations sufficiently suggest the prospect that a fiduciary breach occurred, and as a result...
BTG International Subject to ERISA Revenue Sharing Suit
The complaint suggests defendants “larded the plan with excessively expensive sub-advised accounts” that paid excessive fees to the recordkeeper John...
ESG, Proxy Voting Trends Unlikely to Shift on Executive Order
The ultimate impact of President Trump’s new executive order is likely to be more symbolic than substantive when it comes...
Fidelity Faces Another ‘Pay-to-Play’ Lawsuit
Fidelity faces a third lawsuit alleging the company collects “secret kickback payments” from mutual fund providers on its recordkeeping platform—claims...
Great-West Appellate Court Ruling Clarifies Duties of ‘Parties in Interest’
The appellate court decision tests ERISA’s restrictions on transactions between fiduciaries and non-fiduciary third parties, referred to as “parties in...
12 Years of Litigation Deliver Final Settlement in Tussey vs. ABB
The plan sponsor was previously ordered to make reforms such as using lower-cost share classes and conducting an open recordkeeping...
Oracle Defeats Most ERISA Class Action Claims
The defense benefited strongly from the fact that expert witness testimony given in favor of plaintiffs was rejected by the...
Parts of Schwab Self-Dealing ERISA Lawsuit Will Proceed
A district court in California has issued a mixed ruling in a self-dealing lawsuit filed against Schwab Retirement Plan Services...
American Century Defeats Self-Dealing ERISA Lawsuit
The district court had several times ruled against the firm in summary dismissal and discovery decisions—but the firm has prevailed...
Best Practices for Managing ERISA Litigation Risk in 2019
Three Mayer Brown ERISA attorneys discuss the current litigation landscape and offer practical strategies for promoting compliance in 2019.
Plaintiffs Agree to Drop Empower ERISA Revenue-Sharing Lawsuit
Both parties agreed to dismiss the litigation under Federal Rule of Civil Procedure 41(a), and each party will bear its...
Judge Rules to Dismiss Georgetown University 403(b) ERISA Lawsuit
The colorfully worded opinion chides plaintiffs for failing to acknowledge the unique character of 403(b) retirement plans—including their common use...
Mutual of Omaha ERISA Lawsuit Defeats Early Dismissal Motions
In his opinion, the district court judge says an ERISA complaint of this nature does not need to describe in...
Assessing Courts’ ERISA Decisions in 2018
Some 83,000 lawsuits have been filed under the Employee Retirement Income Security Act (ERISA) in federal district court since 2009,...