Court Decision in PBGC Suit Shows Sponsors Have Ultimate Fiduciary Liability
“IHI cannot delegate fully its statutory responsibilities under ERISA,” a federal judge says in her opinion.
Tag: Fiduciary
Nearly Half of Sponsors Fail to Realize They Are Fiduciaries
This is true for members of administrative and investment committees alike.
Union Fund Hit With Excessive Fee Suit
Similar to many excessive fee lawsuits filed against single-employer plans, the complaint accuses a multiemployer plan of failing to leverage...
House Bill Seeks Expansion of Open MEPs, Aggressive Plan Designs
Among other adjustments viewed as vital to the expansion of open multiple employer plans, the bill would remove the “one...
Investment Committee Quiz Reveals Fiduciary Knowledge Shortfall
The results of a fiduciary primer quiz survey prove once again that institutional investing can be a tricky topic for...
Argument for Auto-Enroll Emergency Savings
The idea is relatively simple: workers who do not yet have emergency savings will be directed to first fund a...
Appeals Court Sides with UPMC in Top-Hat Plan Dispute
A recent appellate court decision underscores the important differences in anti-cutback vesting requirements that exist between “top-hat” plans and retirement...
Wells Fargo 401(k) Participant Files Excessive Fee, Self-Dealing Suit
Throughout the complaint, the plaintiff alleges that the plan’s fiduciaries’ lack of a systematic and unbiased review process caused participants...
Experts Push for Sponsor Courage When Offering In-Plan Lifetime Income
DOL leadership has stated explicitly that investments with lifetime income elements can be a prudent investment option in DC plans,...
DOL Reaches Triple Settlement With First Bankers Trust
The DOL alleged in all three cases that the firm approved transactions without undertaking the due diligence required of an...
Franklin Templeton Faces Familiar Self-Dealing Allegations
The suit alleges that defendants “breached their fiduciary duties by causing the plan to invest in funds offered and managed...
Fiduciaries of MEWA Barred for Failing to Pay Medical Claims
Employer and employee contributions to the multiple employer welfare arrangement were found in offshore Bermuda accounts.
DOL Fiduciary Rule Enforcement Delay Under Review at OMB
Until the final rule’s publication in the Federal Register, the exact details and length of the second enforcement delay will...
The Current State of Retirement Plan Litigation
Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned...
ERISA Suit Targeting MIT Partially Dismissed in District Court
The district court decision spells out a number of caveats impacting this type of ERISA litigation, explaining why it is...
Phillips 66 Retirement Plan Faces Suit Over Inclusion of Former Parent Stock
Not only does the lawsuit claim ConocoPhillips stock does not meet ERISA’s definition of “employer securities,” but it says participants...
The Thrust of Fiduciary Liability Insurance
In a world of heightened plan sponsor scrutiny, fiduciary liability insurance can be a powerful tool.
Embracing In-Plan Annuities
Specific policy changes and plan sponsor initiatives can make guaranteed lifetime income a norm in the DC plan space, TIAA...
Participant Says ‘Large Plan’ Failed to Negotiate Better Fees
An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan...
Wells Fargo Stock Drop Suit Dismissed
A federal district court ruled the plaintiffs did not meet all the pleading standards set forth by the U.S. Supreme...