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...
Compliance | October 11th, 2019 Court Orders ESOP Fiduciary to Complete Fiduciary Training This is in addition to $454,545 in restitution to the plan, paid by the company and its employee stock ownership...
Compliance | October 9th, 2019 Morgan Stanley Prevails in ERISA Lawsuit In dismissing the case a federal judge said, “ERISA does not require clairvoyance on the part of plan fiduciaries” and...
Compliance | October 8th, 2019 CareerBuilder Sued Over Excessive Fees for 401(k) The complaint strongly points to revenue sharing payments between the plan and its recordkeepers and investment adviser, and says the...
Compliance | October 7th, 2019 AT&T Sued Over Calculation of Early Retirement Benefits The plaintiffs say the plan’s terms reduce benefits using “Early Retirement Factors” and “Joint and Survivor Annuity Factors” which result...
Opinions | October 1st, 2019 Barry’s Pickings: 401(k) Fiduciary Litigation – Still Chaotic Michael Barry, president of O3 Plan Advisory Services LLC, discusses how differing views by courts in various ERISA cases results...
Compliance | September 30th, 2019 Defense Wins Dismissal of PepsiCo ERISA Anti-Cutback Lawsuit The decision agrees with the defense argument that the plaintiffs have failed to plausibly allege a violation of ERISA’s anti-forfeiture...
Compliance | September 27th, 2019 Court Dismisses Invesco ERISA Lawsuit While the decision voices some concern about the Invesco plan's operations, the summary judgement ruling concludes plaintiffs have not sufficiently...
Compliance | September 25th, 2019 Home Depot ERISA Lawsuit Clears Dismissal Motions While a court has ruled the plan’s advisers should be carved out of the litigation, the counts against Home Depot...
Compliance | September 24th, 2019 Supreme Court Asked to Review Case About Annuity Contracts in Retirement Plans The question before the court is: May an ERISA plan participant or beneficiary seek disgorgement of unreasonable profits derived from...
Compliance | September 23rd, 2019 Court Rejects Proposed Classes in Nationwide Asset-Based Fee Suit The plaintiff was proposing a defendant class of all sponsors of smaller 401(k) plans that entered into program agreements with...
Compliance | September 20th, 2019 Funded Status Not a Good Measure for Whether DB Plan Participants Can Sue The U.S. Solicitor General and the Pension Rights Center have filed briefs with the Supreme Court for a fiduciary breach...
Compliance | September 18th, 2019 Safeway, Aon Agree to Settlement of Excessive Fee Suits A total payment of $8.5 million will settle two lawsuits.
Compliance | September 17th, 2019 U.S. Argues for CalSavers ERISA Preemption in Court Filing U.S. Attorneys have filed a Statement of the Interest of the United States in a lawsuit, offering evidence that the...
Compliance | September 12th, 2019 Parties in MIT Excessive Fee Lawsuit Agree to Settle They have filed a joint motion to stay all trial dates, but have not yet prepared details of the settlement...
Compliance | September 12th, 2019 Inherent Murkiness of ERISA Litigation Prevents Progress There has actually been relatively little helpful legal insight published by the courts, due to the fact that many ERISA...