Compliance | September 24th, 2020 Duke Energy Faces Classic Excessive Fee Lawsuit The complaint suggests the plan’s recordkeeping expenses demonstrate that defendants failed to engage in prudent monitoring and engage in prudent...
Compliance | September 24th, 2020 Sizable Settlement Reached in OSF Health ‘Church Plan’ Lawsuit In the settlement agreement, OSF Health admits no wrongdoing, but the hospital system agrees to pay a sum of $25...
Compliance | September 23rd, 2020 PSNC 2020: Legislative and Regulatory Update Part II Experts explained regulations and legislation from Washington, D.C., as well as what employers can do if they ever face ERISA...
Compliance | September 22nd, 2020 Insurance Companies Agree to Settle Self-Dealing Suit Mutual of Omaha and United of Omaha agreed to pay $6.7 million to settle claims they selected certain investment options...
Compliance | September 18th, 2020 Providers to DB Plans Face Lawsuit Over Investment Strategy Because downside protection promised for certain funds wasn’t provided and it wasn’t warned, the committee for defined benefit plans of...
Compliance | September 18th, 2020 Former Intel Plan Participant Reiterates His Claims Now that the U.S. Supreme Court has decided the ‘actual knowledge’ issue, perhaps the industry will get a court ruling...
Compliance | September 17th, 2020 Excessive Fee, Self-Dealing Charges Filed Against Pentegra-Sponsored MEP The lawsuit says fiduciaries of the multiple employer plan failed to ensure reasonable fees for administration and investments and acted...
Compliance | September 16th, 2020 Parties in Cornell 403(b) Excessive Fee Suit Announce Settlement There was only one claim left in the lawsuit that was scheduled for trial to begin on September 29.
Compliance | September 14th, 2020 Sutter Health Faces Second Lawsuit Challenging Use of Actively Managed TDFs The most recent lawsuit says the actively managed suite’s risk has been amplified during the COVID-19 pandemic.
Compliance | September 4th, 2020 Delphi Retirees Lose Bid to Have Pension Takeover by PBGC Reversed A federal appellate court found that court adjudication is not required for PBGC to terminate a plan and that retirees...
Compliance | September 3rd, 2020 Biogen Targeted in Recent Suit About Use of Fidelity TDF Suite The lawsuit challenges Biogen’s use of the actively managed Freedom Funds over the index version of the target-date fund suite.
Compliance | September 3rd, 2020 Computer Graphics Company Targeted in ERISA Excessive Fee Suit The suit alleges 401(k) plan fiduciaries failed to use the lowest cost share classes or consider CIT versions of mutual...
Compliance | August 31st, 2020 Technical Ruling Clears UPS in ERISA Actuarial Equivalence Lawsuit The pro-defense ruling highlights the importance of exhausting potential administrative remedies before filing a lawsuit under ERISA.
Compliance | August 28th, 2020 Law Firm Continues Its Roll With ERISA Excessive Fee Suits The complaint against B. Braun Medical reads like a copy of many suits Capozzi Adler has filed since December.
Compliance | August 27th, 2020 Additional ESOP Valuation Litigation Targets Wilmington Trust According to the lead plaintiff, fiduciary violations occurred when an inflated valuation provided by Wilmington Trust caused an employee stock...
Compliance | August 26th, 2020 Supreme Court Asked to Weigh in on Multiemployer Plan Withdrawal Liability for PE Firms A multiemployer pension fund argues that an appellate court decision shields private equity firms that take on a withdrawing employer...
Compliance | August 26th, 2020 Colgate May Have to Make Additional Payments to Retirees A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief...
Compliance | August 24th, 2020 Parties in Lawsuit Over Revenue Sharing in 401(k) Plan Agree to Settle BTG International and company officials agreed to pay $560,000 to settle charges they allowed the plan’s recordkeeper to receive unreasonable...
Compliance | August 21st, 2020 iHeart Communications Faces 401(k) Excessive Fee Suit Company 401(k) plan fiduciaries are accused of failing to negotiate for better fees, switch to collective trusts and switch to...
Compliance | August 21st, 2020 Another Lawsuit Takes Aim at Plan’s Use of Fidelity Active TDF Suite The lawsuit also calls out what it says are ‘additional objectively imprudent investment options,’ and claims recordkeeping fees were excessive.