Compliance | January 30th, 2020 $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...
Compliance | January 29th, 2020 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...
Compliance | January 28th, 2020 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...
Compliance | January 23rd, 2020 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.
Compliance | January 22nd, 2020 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...
Compliance | January 14th, 2020 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...
Compliance | January 14th, 2020 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.
Compliance | January 14th, 2020 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...
Compliance | January 14th, 2020 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...
Compliance | January 10th, 2020 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...
Compliance | January 10th, 2020 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...
Compliance | January 8th, 2020 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.
Compliance | January 8th, 2020 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...
Compliance | January 7th, 2020 Settlement Announced in Case About Forcing Participants Out of ESOP The case has been stayed until the parties can draft the settlement agreement.
Compliance | January 3rd, 2020 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,...
Compliance | January 3rd, 2020 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...
Compliance | January 3rd, 2020 ERISA Fiduciary Breach Lawsuit Targets Trader Joe’s Trader Joe’s retirement plan committee is accused of failing to seek competitive bids for recordkeeping, among other alleged fiduciary breaches.
Compliance | January 2nd, 2020 Wilmington Trust Agrees to Settle ESOP Lawsuit It has agreed to pay $5 million into a settlement fund.
Opinions | January 2nd, 2020 Barry’s Pickings: Retirement Policy 2019 Report Card: B+/A- Michael Barry, president of O3 Plan Advisory Services LLC, rates how actions of Congress, regulators and the courts have or...
Compliance | December 31st, 2019 ERISA Class Action Complaint Targets Ardent Health Services One unique feature of the complaint is a short discussion of Sageview Advisory Group being a “non-defendant fiduciary.”