Compliance June 10th, 2021 Wake Forest University Baptist Medical Center Sued Over 403(b) Plan Fees The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.
Compliance June 10th, 2021 CDI Corp. Agrees to $1.8M ERISA Lawsuit Settlement The retirement plan in question in the suit is substantially smaller than many of those that have faced or settled...
Compliance June 9th, 2021 Estee Lauder Excessive Fee Suit Moves to Pretrial Conference A district court judge has denied the defense’s motion to dismiss without offering any explanations for his reasoning in court documents.
Compliance June 9th, 2021 Midsize Plan Claims Self-Dealing by Russell Investments The same attorney that is representing employees of Caesars Entertainment in a self-dealing lawsuit filed in May against Russell Investments...
Compliance June 9th, 2021 Judge Moves Forward Some Claims in Excessive Fee Suit, Rejects Others A judge found there was no evidence that fiduciaries of B. Braun Medical's retirement plan violated ERISA's duty of loyalty,...
Compliance June 8th, 2021 IRS OC List Helps Plan Sponsor Clients Ensure Operational Compliance An updated page on the IRS website serves as a reminder of requirements in effect and those that will be in effect soon.
Compliance June 8th, 2021 When ‘Eating Your Own Cooking’ Becomes Self-Dealing One conclusion that can be drawn from the rash of self-dealing lawsuits filed in the retirement plan services industry is...
Compliance June 7th, 2021 Northern Trust Faces New Fiduciary Breach Allegations The plaintiffs argue the plan lost ‘tens of millions of dollars’ in retirement savings due to the retainment of Northern...
Compliance June 7th, 2021 Serco Settles Excessive Fee Case for $1.2 Million The class action lawsuit had charged the Navy defense contractor with selecting higher-cost mutual funds when cheaper options were available,...
Compliance June 7th, 2021 John Hancock Life Insurance Agrees to Settle ERISA Self-Dealing Suit The defendants have agreed to a $14 million payment and to procedural changes.
Compliance June 4th, 2021 ‘Secure Act 2.0’ Likely to Become a Reality Retirement Plan Execs Confident Senate Will Pass the Bill Into Law
Compliance June 2nd, 2021 Enhancing Emergency and Retirement Savings Act Unveiled The bill would encourage retirement plan participation by giving people penalty-free access to funds in the event of an emergency.
Compliance June 2nd, 2021 SEC to Revisit Proxy Rule Amendments The agency will address criticism that the changes make advisers’ roles in proxy voting more cumbersome.
Compliance June 2nd, 2021 Biden Expected to Advance a More Stringent Fiduciary Rule, Advocate for Retirement Income and ESG Investing Industry experts reflect on what President Joe Biden has done in his first months in office with respect to retirement...
Compliance June 1st, 2021 Lowe’s Reaches Settlement in 401(k) ERISA Case The $12.5 million agreement excludes co-defendant Aon Hewitt.
Compliance June 1st, 2021 U.S. Asks Supreme Court to Weigh In on Excessive Fee Claims U.S. attorneys argue the Court of Appeals’ decision in a case against Northwestern University is incorrect and conflicts with decisions...
Compliance May 27th, 2021 Claims Against Aon Hewitt in Lowe’s 401(k) ERISA Case Will Move Forward A court document shows the investment consultant and the plaintiff were unable to reach a settlement agreement.
Compliance May 27th, 2021 Executive Order Asks DOL to Consider Rescinding Last Rule on ESG Investing President Joe Biden seems to want to pave the way for more environmental, social and governance investing in retirement plans.
Compliance May 26th, 2021 State Street Sees Self-Dealing Allegations in ERISA Lawsuit Participants in the State Street Salary Savings Program say their employer has engaged in self-dealing within the retirement savings plans.
Compliance May 25th, 2021 Russell Investments Draws Self-Dealing Scrutiny Plaintiffs in a new ERISA lawsuit say Caesars Entertainment allowed Russell Investments to pack its plan with proprietary investment options,...