A district court in California has issued a mixed ruling in a self-dealing lawsuit filed against Schwab Retirement Plan Services and other defendants.
The Pension Benefit Guaranty Corporation has added fiduciary breach cases to the categories of disputes covered by the mediation program.
The district court had several times ruled against the firm in summary dismissal and discovery decisions—but the firm has prevailed against ERISA fiduciary breach claims after an 11 day trial.
Three Mayer Brown ERISA attorneys discuss the current litigation landscape and offer practical strategies for promoting compliance in 2019.
Both parties agreed to dismiss the litigation under Federal Rule of Civil Procedure 41(a), and each party will bear its own attorneys’ fees and expenses.
The colorfully worded opinion chides plaintiffs for failing to acknowledge the unique character of 403(b) retirement plans—including their common use of annuities and multiple recordkeepers.
The complaint argues defendants violated ERISA duties by reinterpreting plan language in a conflicted manner aimed at reducing employer costs.
In his opinion, the district court judge says an ERISA complaint of this nature does not need to describe in exhaustive detail the ways in which plaintiffs believe defendants breached their fiduciary duties.
The complaint suggests Transamerica continued to offer proprietary portfolios when their rates of return were meaningfully below stated long-term benchmarks.
They are centered around three key themes: 1) Secure your foundation, 2) Achieve greater prosperity and 3) Inspire confidence.
The text of a new ruling on GE defendants' summary dismissal motion steps through complex issues of timeliness that are being tested in other ongoing ERISA cases.
The appellate court sent a case over Intel's use of alternative investments in its target-date funds back to a lower court for review.
An appellate court has taken the rare step of overturning a successful motion to dismiss a stock drop lawsuit targeting IBM.
A newly filed complaint takes issue with the way MetLife calculates the actuarial equivalence of different types of annuity benefit options available in the firm’s pension plan.
The long-running litigation appears to be heading for a mediated conclusion, after a contentious discovery process that produced over 260,000 pages of documents and more than 20 depositions.
Jana Steele, senior vice president and researcher for Callan, says auto-portability is the next natural extension of highly successful plan design innovations from the past decade.
It has only been about a year and a half since large U.S. universities became the target of ERISA lawsuits, making for a fresh crop of claims and defense strategies that matter for all types of DC plans.