Wawa ERISA Fiduciary Breach Lawsuit Settlement Revealed
The class action settlement agreement includes $21.6 million in cash payments, with no admission of wrongdoing by the plan’s fiduciaries.
Tag: Fiduciary
Judge Roundly Rejects CareerBuilder ERISA Lawsuit
The text of the dismissal ruling relies heavily on precedent set by the United States 7th Circuit Court of Appeals.
Court Orders Parties to Scale Back Northrop Grumman ERISA Settlement
The parties’ proposed settlement agreement impermissibly releases claims that go beyond the scope of the allegations in the operative complaint.
Back to the Fiduciary Future?
Analysts say the Department of Labor is officially reinstating the “five-part test” for determining fiduciary status.
Newly Published DOL Fiduciary Proposal Matches SEC’s Reg BI
The proposed rule aligns with the SEC’s Regulation Best Interest and the Suitability in Annuity Transactions Model Regulation adopted last...
Guilty Plea Secured in $15M Retirement Plan Embezzlement Scheme
A Texas couple has admitted to submitting more than 90 unauthorized distribution requests from some 20 retirement plans between 2014...
Improving a Retirement Plan Committee Through Diversity
Today’s workforces are becoming more diverse both generationally and culturally, and retirement plan committees should match this trend to add...
Lowe’s Defense Fails to Get ERISA Suit Dismissed
The fiduciary breach lawsuit accuses plan fiduciaries of mapping $1 billion into a fund that lagged peer performance and was...
Broad ERISA Lawsuit Targets Texas Grocery Chain
Plaintiffs suggest higher than average fees were not attributable to enhanced services for participants, but instead to defendants’ use of...
Custom Portfolio Fees, Allocations Questioned in ERISA Complaint
Retirement plan fiduciaries at Intel are accused of failing to properly monitor and evaluate “unconventional, high-risk allocation models” adopted within...
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PCS, Aspire Combine to Provide Fiduciary Specialist Services
In addition to providing new fiduciary solutions to the combined client base, PCS leadership aims to leverage Aspire’s footprint in...
The Retirement Industry Needs a Top Cop’s Guidance
All of the President’s cabinet secretaries have substantial authority to promulgate, interpret and enforce regulations. The DOL Secretary, in particular,...
Court Rules for SunTrust Defense on Fiduciaries’ ‘Actual Knowledge’ Question
The district court found "the mere fact that the plan included the affiliated funds—and defendants were aware of that fact—is...
Self-Correcting the Inevitable Mistakes
Even the most informed and dedicated retirement plan fiduciaries sometimes miss the target. The good news is, many mistakes can...
Attorney Believes Supreme Court Will Side With Plaintiffs in DB Plan Case
"How does it make sense to say that if you are a dollar over-funded, there is no risk of harm...
Democratic Leaders Call for GAO Review of Fiduciary Landscape
According to Democratic leaders in Congress, the Department of Labor appears to be doing little, if anything, to inform consumers...
Appeals Court Again Cites Dudenhoeffer in Rejecting Stock Drop Suit
The decision out of the 8th Circuit ties together the influential Supreme Court decisions known as Fifth Third v. Dudenhoeffer...
In Sequoia Fund Lawsuit, Documented Process Saves Plan Fiduciaries
A federal court found plan fiduciaries acted with loyalty and prudence, and that plaintiffs failed to show the failure to...
PSNC 2019: Understanding 3(16) and 3(38) Fiduciary Outsourcing
Good candidates for outsourcing include plan sponsors who want to spend more time focused on plan design innovation and tracking...
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...