Compliance | December 11th, 2019 Judge Denies Dismissal of Suit Against Archdiocese Over Pension Plan Unlike ERISA lawsuits that are argued in federal courts, this case is playing out in state court.
Compliance | December 9th, 2019 Intel Case Parties Present Different Sides About ‘Actual Knowledge’ to Supreme Court There was substantial discussion of Intel’s argument about how the statute of limitations provision read when ERISA was originally written.
Compliance | December 2nd, 2019 Court Finds Private Equity Funds Not Liable for Plan Withdrawal Liability An appellate court found a partnership test set forth in a previous case had not been met between the private...
Compliance | November 27th, 2019 Settlement Announced in Invesco Self-Dealing Suit Though Invesco previously prevailed in the lawsuit, the plaintiff was in the process of filing an amended complaint.
Compliance | November 26th, 2019 Supreme Court Denies Review of Case About Annuity Contracts in Retirement Plans The plaintiff said Great-West’s conduct in setting the credited rate of its Key Guaranteed Portfolio Fund violates ERISA’s clear rules...
Compliance | November 18th, 2019 Participants Say Sutherland’s 401(k) Fees Aren’t Reasonable Among other issues, the plaintiffs allege the defendants “failed to properly minimize the reasonable fees and expenses of the plan.”
Compliance | November 15th, 2019 Mediation May Resolve SunTrust Bank ERISA Challenge The parties have requested that the district court stay all proceedings and deadlines pending the outcome of a mutually agreed...
Compliance | November 14th, 2019 Plaintiffs Say AutoZone Breached ERISA Through Prudential’s GoalMaker AutoZone plan fiduciaries are accused of permitting Prudential to steer an excess of assets towards its own proprietary products via...
Compliance | November 7th, 2019 Prudential Faces ERISA Self-Dealing Allegations in New Lawsuit According to the complaint, by selecting Prudential-affiliated funds, the fiduciary defendants placed Prudential’s interests above the plan’s interests.
Compliance | November 5th, 2019 Attorneys Argue Plan Disclosures May Not Provide Actual Knowledge of Wrongdoing In a brief to the Supreme Court, U.S. attorneys disagree with the implication that retirement plan participants actually know all...
Administration | November 1st, 2019 Evolving Best Practices: Recordkeeping Fees Per participant or asset-based? Each approach has its merits, but is one preferable under the Employee Retirement Income Security Act’s...
Compliance | October 31st, 2019 Greystar ERISA Fee Challenge Will Be Individually Arbitrated Following some important appellate and Supreme Court decisions, it is “no longer good law” to presume as a general matter...
Compliance | October 30th, 2019 Plaintiffs Left With Only One Claim in CenturyLink ERISA Case CenturyLink seems to be off the hook regarding a specific fund offered in its 401(k), but its investment management company...
Compliance | October 29th, 2019 $18.1M MIT Fiduciary Breach Lawsuit Settlement Includes RFP Process Among the non-monetary elements of the settlement is a requirement to conduct a recordkeeping RFP process that will result in...
Compliance | October 28th, 2019 Court Recommendation Highlights Difficulty in Consolidating 403(b) Providers Although a judge said annuity relationships may be “akin to a hostage-type situation,” he still recommended the suit against Columbia...
Compliance | October 28th, 2019 Goldman Sachs Accused of Self-Dealing in 401(k) Plan Among other things, the lawsuit says Goldman Sachs did not prudently use revenue-sharing payments.
Compliance | October 24th, 2019 School Board Broke Contract When It Suspended 403(b) Contributions Georgia’s Supreme Court found a contract that required the Board to provide a two-year notice before changing plan funding was...
Opinions | October 22nd, 2019 Cassell v. Vanderbilt University: Nonmonetary Remedies Sometimes, with retirement plan litigation settlements, the most telling detail and the true value to participants is in the nonmonetary...
Compliance | October 21st, 2019 Allina Health System Reaches Agreement in Lawsuit Regarding Plans’ Investments The original complaint said a provider was allowed to add any mutual fund it wished, “regardless of whether the funds...
Compliance | October 14th, 2019 New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans A former 401(k) plan participant is suing the plan sponsor and plan providers after unauthorized distributions were made from her...