Principal Back on the Hook for GIC Challenge
A federal district court’s decision that Principal is not a fiduciary when it sets the crediting rate for a GIC...
Tag: retirement plan litigation
CBIZ Actuarial Error Lawsuit Moves Ahead
A court has ruled against CBIZ’s motion for summary judgement in a lawsuit accusing the firm of making costly actuarial...
2nd Circuit Again Remands Decade-Old PwC ERISA Litigation
The appellate court disagreed with a lower court finding that reformation of PwC's cash balance plan and the recalculation of...
Navy Contractor Serco Faces ERISA Excessive Fee Lawsuit
The complaint states that the plan’s investment options and fees “cannot be justified.”
$10M Settlement Agreement Filed in Berkshire Hathaway Pension Lawsuit
Much of the settlement value is tied into a new pension funding formula Berkshire Hathaway will use for certain employees...
Court Permits Healthcare System Cash Balance Lawsuit to Proceed
The parties in Belknap v. Partners Healthcare System have been given an opportunity to submit supplemental briefing as to the...
Shell Oil, Fidelity Face Allegations in New ERISA Lawsuit
Among other allegations, the litigation says Shell Oil fiduciaries allowed Fidelity to inappropriately utilize plan data for its own commercial...
Excessive Fee Cases Continue With Lawsuit Against Cerner Corporation
The ERISA complaint includes familiar allegations that retirement plan fiduciaries failed to manage or monitor plan recordkeeping and investment fees.
Supreme Court Declines to Review Question About Dudenhoeffer Pleading Standards
A former employee of SunEdison Semiconductor LLC claimed that the 8th Circuit “discarded the core lesson of Dudenhoeffer and imposed...
Supreme Court Remands IBM v. Jander Stock Drop Challenge
The Supreme Court has issued a limited ruling in a case that could have had a big impact on the...
Northrop Grumman Agrees to Settle 401(k) Excessive Fee Suit
The defendants have agreed to pay a gross settlement amount of $12,375,000 to resolve all claims.
Court Ends Dispute of Proper Remedy in Amara v. Cigna
A federal district court has refused to reconsider its ruling that Cigna is carrying out its orders correctly in the...
Supreme Court Will Not Weigh In on Burden of Proof and Index Fund Comparison
The denial will let a 1st U.S. Circuit Court of Appeals decision stand, which the Investment Company Institute previously said...
Assumptions for Withdrawal Liability Cannot Be Changed and Applied Retroactively
“The selection of an interest rate assumption after the Measurement Date would create significant opportunity for manipulation and bias” by...
Chemical Distributor’s U.S. DC Plan Subject of Excessive Fee Suit
The plaintiffs suggest that the task of evaluating investments has become simpler for plan fiduciaries and that prudent fiduciaries will...
Judge Tosses Church Plan Lawsuit Against Adventist Health System
Basically, the plaintiff never alleged an injury from the DB plan operating as exempt from ERISA requirements.
Lawsuit Against Trade Association’s 401(k) Plan Moves Forward
National Rural Electric Cooperative Association, previously subject of a DOL investigation, is facing a lawsuit regarding excessive fees and prohibited...
Settlement Announced in Case About Forcing Participants Out of ESOP
The case has been stayed until the parties can draft the settlement agreement.
403(b) Litigation Offers Instruction for Plan Sponsors
403(b) plan sponsors should be aware of how their plan investments and fees stack up and of their fiduciary responsibilities,...
Advisory Firm Settles ERISA Litigation
Jeffrey Slocum & Associates will pay some $500,000 into a settlement account in exchange for a release of all ERISA...