Ameriprise Financial Settles ERISA Fee Litigation
Ameriprise will pay $27.5 million to settle a 401(k) excessive fee lawsuit.
Tag: Litigation
Court Dismisses Fidelity Float Income Suit
A federal district court has ruled float income is not a retirement plan asset belonging to participants.
Oral Misrepresentation Enough to State a Claim Under ERISA
A pension plan participant who claims he didn’t receive promised credit for service can proceed with his lawsuit.
DOL Alleges Company’s ESOP Creation Was Flawed
Accurate company valuations are critical when it comes to establishing an ESOP, the DOL says in an enforcement action announcement.
Supreme Court Could Consider RJR Stock Drop Case
The U.S. Supreme Court may take up important fiduciary liability questions related to a “reverse stock-drop” case leveled against a...
Court Orders Additional Recovery of Misused Pension Funds
A federal court has ordered a fiduciary to repay $300,000 to a number of pension plans, for which the Department...
Justices Consider ‘Duty to Monitor’ in Fee Case Arguments
The U.S. Supreme Court heard oral arguments in a case said to be the first excessive 401(k) fee litigation to...
Long-Running Lockheed Martin Fee Case Settled
Plaintiffs’ attorney Jerry Schlichter says the settlement is the largest result for a 401(k) excessive fee claim ever levied against...
Firm Not Liable for Botched Benefit Estimates
A federal appeals court in Puerto Rico ruled retirement benefits a participant believed were negotiated were not due under the...
Aegon Sued Over Management of Its Retirement Plan
A lawsuit claims retirement plan provider and asset manager Aegon USA caused superfluous fees to be charged to its own...
Former Comcast Employee Accused of Bilking Retirement Accounts
A U.S. attorney has accused a former Comcast employee of creating dummy retirement accounts and defrauding the firm of nearly...
Supreme Court Urged to Drop Review in Tibble Case
Edison International has petitioned the U.S. Supreme court to drop its review of Tibble vs. Edison International, a closely watched...
DOL Challenges Rochester Investment Adviser on Fees
The U.S. Labor Department filed a complaint against a Rochester, New York, investment adviser and plan administrator to recover losses...
FedEx Pension Plan Faces DOMA-Related Challenge
The surviving spouse of a fully vested participant in a FedEx pension plan claims she is being unlawfully denied a...
DOL Explains Drop in 2014 Collections Number
The DOL’s Employee Benefits Security Administration says a substantial year-over-year drop in the agency’s reported collection totals for 2014 is...
2014 EBSA Collection Totals Questioned
The dollar amount secured by the DOL’s Employee Benefit Security Administration dropped substantially in 2014 compared with the previous year,...
2nd Circuit Agrees with Reformation of CIGNA Cash Balance Plan
In Amara v. CIGNA Corp., an appellate court has once again agreed that a change in plan terms is an...
DOL Collected Almost $600 Million in 2014 Enforcement Actions
The Department of Labor’s Employee Benefits Security Administration says it restored over $599.7 million to employee benefit plans and participants...
ERISA Lawsuit Filed Against Avon Products
A lawsuit claims fiduciaries to Avon Products defined contribution plan violated their duties to participants by keeping company stock as...
District Court Moves Forward Boeing Fee Case
A federal district court has denied Boeing’s request for summary judgment on the merits of Spano vs. The Boeing Company,...