Compliance | August 8th, 2019 Court Issues Mixed Ruling in Case Over ESOP Stock Purchase The court decision highlights the difficulty in determining the fiduciary status of parties and of making claims for equitable relief...
Compliance | August 7th, 2019 Court Moves Forward Suit Over Plans’ Use of Retail Funds The court decision in Lutz v. Kaleida Health reviews what it takes to be a retirement plan fiduciary and acknowledges...
Compliance | August 6th, 2019 Settlement in Johns Hopkins 403(b) Plan Lawsuit Includes Recordkeeper Bid The $14 million settlement agreement also requires the University to retain an independent consultant to assist plan fiduciaries in reviewing...
Compliance | August 5th, 2019 Pension Plan Sponsor Dupes Employees Out of ‘TPA Fee’ A business owner who sponsored pension plans for his employees pleaded guilty of charges that he deducted a “third-party administrator...
Compliance | August 1st, 2019 Retirement Plan Excessive Fee Cases Continue to Move Down-Market TriHealth Inc. has been accused of carrying high fees in its 401(k) plan, benchmarked against peer plans with an asset...
Compliance | July 31st, 2019 SEI Investments Agrees to Settle ERISA Self-Dealing Suit In addition to a $6.8 million payment, defendants in the lawsuit agreed to certain procedures for plan management, including that...
Compliance | July 30th, 2019 Court Decides Medical Center Plan is a Church Plan Under ERISA Citing the Supreme Court decision regarding church plan cases and using a three-part test, a federal judge found the St....
Compliance | July 23rd, 2019 Lawsuit Says Money Market Fund Was Like ‘Stuffing Cash Into a Mattress’ BBVA Compass Bancshares is accused of failing to monitor investments and remove imprudent ones.
Compliance | July 18th, 2019 Court Rules for SunTrust Defense on Fiduciaries’ ‘Actual Knowledge’ Question The district court found "the mere fact that the plan included the affiliated funds—and defendants were aware of that fact—is...
Compliance | July 17th, 2019 Even With No CBA, Withdrawing Employer May Have to Pay Multiemployer Plan A multiemployer plan was found to have brought a viable claim for a withdrawal contribution required in its trust documents.
Compliance | July 16th, 2019 GWU Lawsuit Over Two Retirement Plans Dismissed A federal court judge ultimately found that a participant in George Washington University’s two retirement plans had previously waived her...
Compliance | July 15th, 2019 Adidas Sued Over Excessive Fees for 401(k) Participants Plaintiffs in the lawsuit argue that passive funds would have resulted in better returns net of fees that the actively...
Compliance | July 9th, 2019 Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer In a new ERISA lawsuit seeking class action status, the plaintiffs claim their pension assets were disloyally and imprudently transferred...
Compliance | July 3rd, 2019 Fidelity Argues Infrastructure Fees Are Necessary In support of its motion to dismiss a consolidated lawsuit, Fidelity argues that it is entitled to negotiate and collect...
Compliance | July 1st, 2019 Attorney Believes Supreme Court Will Side With Plaintiffs in DB Plan Case "How does it make sense to say that if you are a dollar over-funded, there is no risk of harm...
Compliance | June 28th, 2019 50-Year Old Mortality Data Questioned in Latest ERISA Lawsuit The mortality table in question, published in 1971, assumes 90% of Huntington Ingalls Industries’ employees are male and that 90%...
Compliance | June 27th, 2019 Gucci Settles Excessive Fee Suit The company will pay $1.2 million, of which, $395,000 goes to class counsel.
Compliance | June 24th, 2019 Appeals Court Again Cites Dudenhoeffer in Rejecting Stock Drop Suit The decision out of the 8th Circuit ties together the influential Supreme Court decisions known as Fifth Third v. Dudenhoeffer...
Compliance | June 20th, 2019 In Sequoia Fund Lawsuit, Documented Process Saves Plan Fiduciaries A federal court found plan fiduciaries acted with loyalty and prudence, and that plaintiffs failed to show the failure to...
Compliance | June 18th, 2019 Settlement of MFS Excessive Fee Suit Includes Plan Design Changes MFS has also agreed to pay $6,875,000 into a qualified settlement fund to resolve the claims of the court-approved class.