Plaintiffs’ Prudence Claims Snapped in General Cable Stock Drop Suit
In dismissing the stock drop challenge, the judge offers an illuminating review of what is required by ERISA’s duty of...
Tag: retirement plan litigation
Independent Contractors’ ERISA Lawsuit Fails to State Actionable Claim
The dispositive question is not whether the claimants were employees but whether, considering them as employees, they were eligible to...
Brown University 403(b) Plans Suit Moves Forward
A federal judge denied dismissal of plaintiffs’ allegations that a prudent fiduciary would have chosen one—rather than two—recordkeepers; that a...
ERISA Excessive Fee Claims Against Checksmart Time-Barred by District Court
The decision points to mailings and various other disclosures sent by Checksmart to the defendant over the years leading up...
Matrix Trust Company Sued Over Asset Transfers From 403(b) Plans
Matrix is being sued for violating its fiduciary duties because it did not verify that the transfers were authorized by...
R.I. Governor Signs Bill to Facilitate Settlement of Church Plan Suits
A newly filed challenge to St. Joseph Health Services of Rhode Island’s retirement plan claims the plan at some point...
GWU Tells Court 403(b)s Cannot Be Compared to 401(k)s
In a brief supporting a motion to dismiss a case against George Washington University related to the management of its...
PSNC 2018: Best Practices to Protect Yourself and Your Company from Fiduciary Liability Lawsuits
Having prudent processes in place when making plan decisions is of utmost importance, and if a plan sponsor gets sued,...
Appellate Court Rejects Bank of America Participants’ Claim for More Relief
Noting that the bank already made restitution to the participants under an IRS closing agreement, the 4th Circuit agreed with...
New Claim Added to Vanderbilt University 403(b) Plan Lawsuit
The new claim is related to the defendants’ alleged failure to protect plan assets by allowing third parties to market...
Invesco Accused of Self-Dealing in 401(k)
Plaintiffs allege the firm added poorly performing proprietary mutual funds to their plan.
Second Stock Drop Complaint Against Edison International Dismissed
A federal district court judge found that additional allegations that alternatives to continuing to offer the company stock would lead...
ERISA Excessive Fee Suit Filed Against University of Rochester
The suit challenges fees paid to provider TIAA.
Lawsuit Filed Against Plan Sponsor, Aon Hewitt for Untested Funds in 401(k)
According to the complaint, the defendants removed a large number of established funds in the plan that were performing well...
Opinions |
The Retirement Enhancement and Savings Act of 2018: What Would It Mean for MEPs?
In March, the Retirement Enhancement and Savings Act of 2018 (RESA) was introduced in the U.S. Senate. If passed, the...
Public Pension Fund Files Complaint Against Wells Fargo Over Compensation Received
The bank admitted that because of “a system error,” revenue sharing payments were not credited to the retirement fund, but...
ESOP Fiduciaries to Pay More Than $2 Million to Settle DOL Lawsuit
The Department of Labor sued Sonnax Industries, company officers and ESOP fiduciaries Tommy Harmon and Frederick Fritz, and Illinois-based First...
Opinions |
Barry’s Pickings: Keeping Employers in the 401(k) System: Fixing 401(k) Fee Litigation
Michael Barry, president of the Plan Advisory Services Group, delves into fee litigation assumptions—and what is wrong with them.
Court Affirms DB Plan Sponsor Owes Excise Taxes on Non-Deductible Contributions
A federal appellate court agreed with the Commissioner of Internal Revenue that Pizza Pro Equipment Leasing incorrectly calculated the limitation...
Court Finds Company Owners Not Responsible for Multiemployer Plan Withdrawal Liability
The 9th Circuit depended on its own precedent in finding that unpaid contributions to employee benefit funds are not plan...