A district court has denied participants’ request for attorneys’ fees in their attempt to sue their employer over the selection of funds in their 401(k) plan.
Last week, FINRA not only provided much-needed clarification on acceptable social media usage for financial advisers, but it also recognized social and mobile technology as a boon, not...
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have requested comments from the public to assist in conducting a joint study on stable...
The fiduciary exception to the attorney-client privilege rule extends to plan administration between an ERISA trustee and a plan attorney, the 4th U.S. Circuit Court of Appeals has...
PricewaterhouseCoopers (PwC) was unable to prove that its calculation of benefits for cash balance plan participants satisfied the Employee Retirement Income Security Act (ERISA), a court found.
The U.S. Department of Labor’s Employee Benefits Security Administration will host a Webcast on August 24 to inform plan sponsors and service providers about the EBSA enforcement program,...
U.S. Secretary of Labor Hilda L. Solis is asking an appellate court to uphold a district court's decision refusing to dismiss a claim that SunTrust plan fiduciaries...
The Investment Company Institute (ICI) said plaintiffs’ contentions in Tibble v. Edison International that so-called “retail” mutual funds offered by the plan would not have been offered by...
A federal appellate court has upheld a ruling that the cash balance plan offered by El Paso Corporation does not violate the Employee Retirement Income Security Act (ERISA)...
A federal court has advanced claims by investors in State Street stock, including retirement plan participants, relating to its foreign exchange practices.
A federal district court approved an additional award of fees and costs incurred by attorneys representing participants who won a cash balance plan challenge.
A California employer group has filed an amicus brief in a case over whether 401(k) plan fiduciaries breached their duties by selecting retail-class mutual funds over institutional-class funds.
According to law firm Winston & Strawn, the Securities and Exchange Commission has modified its schedule for adopting rules relating to the Dodd-Frank Act, including the key provisions...
Senators Carl Levin (D-Michigan) and Sherrod Brown (D-Ohio) introduced legislation to end a corporate tax break allowing corporations to deduct stock option expenses on their tax returns in...
An ERISA Strategist report from law firm Constangy, Brooks & Smith LLP says 2010 was the year that illuminated retirement plan problems plaguing 403(b) plan sponsors.
A court has found that a defined contribution plan amendment liquidating two investment options was invalid because the sponsor did not follow amendment procedures dictated by the plan.
Irving H. Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), announced that he has reached a settlement with numerous feeder funds.