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 and other defendants.
Tag: Fiduciary
PBGC Makes Pilot Mediation Program Permanent, Adds Fiduciary Disputes
The Pension Benefit Guaranty Corporation has added fiduciary breach cases to the categories of disputes covered by the mediation program.
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 against ERISA fiduciary breach claims after an 11 day trial.
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.
2019 Could Be Banner Year for ESG in ERISA Plans
Plan sponsors voice concern about a lack of uniform ESG data reporting and lingering regulatory uncertainty—but more and more continue to embrace the use of environmental, social and governance investing programs.
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 own attorneys’ fees and expenses.
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 of annuities and multiple recordkeepers.
ConAgra Brands Faces ERISA Suit Over Interpretation of Plan Document
The complaint argues defendants violated ERISA duties by reinterpreting plan language in a conflicted manner aimed at reducing employer costs.
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 exhaustive detail the ways in which plaintiffs believe defendants breached their fiduciary duties.
Self-Dealing ERISA Challenge Targets Transamerica and Affiliates
The complaint suggests Transamerica continued to offer proprietary portfolios when their rates of return were meaningfully below stated long-term benchmarks.
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, according to Lex Machina, a LexisNexis company; fewer than...
Mercer Sets Goals for DC Plans for the Coming Year
They are centered around three key themes: 1) Secure your foundation, 2) Achieve greater prosperity and 3) Inspire confidence.
Most Counts Against GE Allowed to Proceed in ERISA Lawsuit
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.
9th Circuit Questions Meaning of ‘Actual Knowledge’ for ERISA Statute of Limitations
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.
Stock-Drop Lawsuit Targeting IBM Revived and Remanded
An appellate court has taken the rare step of overturning a successful motion to dismiss a stock drop lawsuit targeting IBM.
Lawsuit Argues MetLife Pension Calculations Use Outdated Mortality Table
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.
More Diverse ERISA Litigation Expected in 2019
Reflecting on lessons learned this year, Jamie Fleckner, partner at Goodwin Procter, says cases still are growing more diverse in their claims and outcomes relative to earlier waves of retirement plan litigation.
$24M Settlement Proposed By Parties in BB&T Self-Dealing ERISA Litigation
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.
Stakeholders Say Auto-Portability Complements Modern Plan Design
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.
Retirement Plan ERISA Litigation Trends Still Heating Up
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.