Compliance | August 7th, 2024 TIAA, Morningstar Sued Over Retirement Advice Tool A Schlichter Bogard-led complaint alleges that providers pushed participants into retirement advice that led to TIAA annuity investments.
Compliance | August 3rd, 2023 Pennsylvania PSERS Files Suit Seeking Damages from Aon The pension fund sued Aon citing breach of contract, breach of fiduciary duty and negligence over accounting error.
Compliance | July 13th, 2023 403(b) Suit Against Wake Forest Health Center Settled for $3.8M Settlement comes about two years after initial complaint of fiduciary negligence and excessive fees.
Data and Research | April 6th, 2023 DC Plan Sponsors Increased Focus on Cutting Fees, Protecting Against Litigation in 2022 Callan’s Defined Contribution Trends Survey revealed that plan sponsors had increased interest in DEI efforts and eliminating fees in 2022.
Compliance | October 31st, 2022 Yale 403(b) Fiduciary Breach Counts Withstand Motions A federal judge has granted in part and denied in part, the Yale University motion for summary judgement.
Compliance | October 5th, 2022 Metro Bank Founder, Wife Reach Settlement with DOL over Profit-Sharing Plan Losses Vernon and Shirley Hill will pay more than $2 million after claims the couple invested as much as 70% of...
Compliance | September 22nd, 2022 Plaintiffs Move for Settlement Approval in 16-Year ERISA Case The class action suit sought compensation for pension plan lump-sum payments whose value had been undercalculated.
Compliance | September 19th, 2022 Goldman Sachs Did Not Violate ERISA Requirements, Court Says The judge rules that there is no evidence that Goldman Sachs acted either disloyally or imprudently with its employees’ defined...
Compliance | September 8th, 2022 Appeals Court Backs Dismissal of J&J Stock-Drop Litigation Plaintiffs in the now-dismissed case sought to establish that ‘corporate-insider fiduciaries’ violated their duties of prudence in the operation of...
Compliance | September 7th, 2022 Plaintiffs Clear Dismissal in Case Involving Prudential’s GoalMaker The judge also denies a bid by the U.S. Chamber of Commerce to file a ‘friend of the court’ brief...
Compliance | September 1st, 2022 ADP Ruling Includes Cross-Selling Claims Dismissal The mixed dismissal motion ruling, which sides mostly with the plaintiffs, agrees with the defense that certain data-sharing among providers...
Compliance | August 30th, 2022 Lawsuit Cites 401(k) Plan Omission of Target-Date Funds Among Problems The target of a new Employee Retirement Income Security Act case is a plan sponsor with more than 20,000 participants...
Compliance | August 22nd, 2022 Plaintiffs Say Swiss Re Plan Fiduciaries Committed Breaches The plaintiffs suggest their retirement plan’s fiduciaries failed to fully disclose the expenses and risk of the plan’s investment options...
Compliance | August 19th, 2022 Latest ERISA Complaint Targets Marmon Holdings Similar groups of plaintiffs represented by law firm Capozzi Adler have met with mixed success in pursuing nearly identical claims.
Compliance | August 17th, 2022 Appeals Court Upholds Decision in Boeing Stock-Drop Case Judges reaffirm the role of third-party fiduciaries in stock plans.
Compliance | August 17th, 2022 Plaintiffs’ Firms Must Pay $1.5 Million for ‘Vexatious’ Litigation An order against the firms, which were involved in lengthy litigation against Great-West, states that they behaved recklessly and unfairly...
Compliance | August 16th, 2022 Managed Account Fees Challenged in Latest ERISA Lawsuit The lawsuit comes as retirement plan sponsors and participants express increased interest in personalization and managed account services.
Compliance | August 15th, 2022 Settlement Struck in L Brands ERISA Lawsuit The defendants were accused of failing to monitor the average expense ratios charged to similarly sized plans for investment management...
Compliance | August 15th, 2022 More TDF Underperformance Lawsuits Emerge Across US Among the latest major employers to be sued under ERISA for alleged underperformance of default investment options are Marsh &...
Compliance | August 11th, 2022 Northern Trust Fails to Get Proprietary Fund Suit Dismissed A judge has rejected the defendants’ arguments that the same reasoning applied by two circuit courts in other cases should...