Compliance | February 27th, 2019 Parties in Vanderbilt University 403(b) Suit Have Reached a Settlement A federal district court judge has granted the parties' request to set a deadline of April 22, for the filing...
Compliance | February 27th, 2019 ICI Says Supreme Court Holds Important Decision in Its Hands In an amicus curiae brief, the Investment Company Institute says letting an appellate court decision in a case against Putnam...
Compliance | February 22nd, 2019 Fidelity Charged With ‘Secret’ Payment Scheme in Violation of ERISA A lawsuit contends that kickback payments Fidelity requires from investment funds bear no relationship to the cost or value of...
Compliance | February 22nd, 2019 Parties Reach Settlement Agreement in Anthem 401(k) Excessive Fee Case The case is notable for arguing that an investment that had only a 4 basis point annual fee could have...
Compliance | February 20th, 2019 U.S. Supreme Court Denies USC Petition to Review Motion to Compel Arbitration The denial leaves in place an appellate court’s decision that claims in a lawsuit against the University of Southern California...
Compliance | February 19th, 2019 Details of Settlement of Franklin Templeton Self-Dealing Lawsuit Revealed In addition to a more than $13 million payment, Franklin has agreed to select a non-proprietary target-date fund (TDF) for...
Compliance | February 19th, 2019 Retaliation Claim Against Central States Multiemployer Plan Dismissed Employees of Kroger say Central States’ plan trustees refused to negotiate a proposal with them after they filed an ERISA...
Compliance | February 6th, 2019 Exxon Mobil Stock Drop Suit Dismissed A federal judge concluded for a second time that plaintiffs in the suit failed to meet a significant pleading standard...
Compliance | February 6th, 2019 MassMutual Wins Lawsuit Over Stable Value Fund Spread A judge found the plaintiff in the lawsuit was bound by a prior settlement agreement and that MassMutual did not...
Compliance | February 1st, 2019 Anthem 401(k) Fiduciaries Denied Summary Judgment in Fee Case A federal judge found that the plaintiffs provided more than enough evidence to support excessive fee claims, noting that, “Plaintiffs...
Compliance | January 30th, 2019 Stadion, United of Omaha Face Lawsuit Over Managed Account Offering According to the lawsuit, Stadion directed participants’ accounts into investments that would better benefit itself and Mutual of Omaha, and...
Compliance | January 25th, 2019 Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000 In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...
Compliance | January 24th, 2019 University of Rochester Excessive Fee Suit Voluntarily Dismissed According to the complaint, TIAA has been able to extract “grossly excessive fees” because its fees are tethered not to...
Compliance | January 22nd, 2019 Putnam Supreme Court Petition Asks About Comparisons to Index Funds In addition to asking the high court to weigh in on whether the plaintiff or the defendant bears the burden...
Compliance | January 17th, 2019 Details Available About Duke University 403(b) Lawsuits Settlement The settlement agreement calls for a gross monetary payment of $10.65 million to a settlement fund and other non-monetary actions...
Compliance | January 9th, 2019 Judge Rules to Dismiss Georgetown University 403(b) ERISA Lawsuit The colorfully worded opinion chides plaintiffs for failing to acknowledge the unique character of 403(b) retirement plans—including their common use...
Compliance | January 7th, 2019 ConAgra Brands Faces ERISA Suit Over Interpretation of Plan Document The complaint argues defendants violated ERISA duties by reinterpreting plan language in a conflicted manner aimed at reducing employer costs.
Compliance | December 26th, 2018 Chevron Plaintiffs Make One More Attempt to Win ERISA Challenge In a case that alleges, among other things, that defendants breached their ERISA duties by offering a money market fund...
Compliance | December 24th, 2018 Kentucky Court Moves Forward Claims Over KRS Hedge Fund Investments The lawsuit claims the Kentucky Retirement Systems (KRS) lost money on more than $1.5 billion in hedge fund investments in...
Compliance | December 24th, 2018 MetLife Settles With Massachusetts Regarding Pension Risk Transfer Beneficiary Payments MetLife has been accused of failing to take sufficient measures to locate annuitants, declaring them dead and transferring the assets...