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...
Tag: Fiduciary
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...
DOL Secretary Says Fiduciary Collaboration with SEC Is Ongoing
However, when pressed by a Democratic lawmaker from Ohio, DOL Secretary Alexander Acosta was not able to provide specific details...
Vanderbilt 403(b) Decision Marks Emerging Data Issues for Fiduciaries
Under the terms of a recently revealed settlement agreement, Vanderbilt 403(b) plan fiduciaries will have to contractually prohibit recordkeepers and...
Ruling in ERISA Case Lets Adviser Partly off the Hook
A mixed-bag district court ruling in Colorado closely examines the investment policy statements and contracts which governed the relationship between...
Court Denies Summary Judgement in SafeWay ERISA Lawsuits
The court has ruled that the litigation can proceed to trial because SafeWay’s summary dismissal argument that the plaintiffs’ case...
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...
Intel Wants Supreme Court’s Take on ‘Actual Knowledge’ Under ERISA
A decision by the Supreme Court on the question of what establishes “actual knowledge” of an alleged breach of fiduciary...