Clorox Wins 1st Round in 401(k) Plan Forfeiture Lawsuit
A federal judge called the plaintiff’s claims ‘impermissibly broad,’ but gave the plaintiff a chance to submit a revised complaint.
Tag: 401(k) Litigation
UC Schools Report Fraudulent Activity in Fidelity Retirement Accounts
The issue affected Fidelity retirement plan accounts at UC Davis and other schools in the University of California system.
The High Price of Discovery in ERISA Class Action
An ERISA consultant and expert witness in 401(k) litigation details how advisers can best prepare for potential class action suits.
401(k) Forfeiture Lawsuits Seeing Their Day in Court
A new complaint is filed and others are moved ahead involving Bank of America, Intuit and Qualcomm.
Judge Dismisses 401(k) Excessive Fee Allegations Against Tyson Foods
Judge rules for Tyson in employee lawsuit alleging the company overcharged participants for bundled recordkeeper fees and failing to solicit...
Lawsuit Alleges TIAA, Morningstar, Pushed Participants Into Proprietary Annuities
A proposed class action complaint filed by law firm Schlichter Bogard claims TIAA’s strategy steered participants to its own retirement...
Major 401(k) Litigators Are ‘Back in Action,’ With More Entering the Fray
After a lull in filings last year, 2024 is seeing an uptick, including from law firms not previously active in...
Retirement Law Group Rebrands as Fiduciary Law Center
Jason Roberts’ ERISA legal practice aims to represent the broader footprint of its services while also bringing on Matthew Eickman...
Why Chevron Reversal May Make Retirement’s ‘Most Cautious’ Players More Risk-Averse
ERISA experts also suggest that longer-term court rulings could lessen regulatory flip-flopping.
GE Hit By Athene PRT Lawsuit
Schlichter Bogard LLP files a lawsuit against General Electric for completing a pension risk transfer with Athene, joining suits against AT&T and Lockheed...
Packaging Co. Hit with Excessive Fee Suit on $1.2B 401(k)
Plaintiffs allege Sonoco’s plan committee did not regularly put out requests for proposal to recordkeepers to reduce plan fees for...
401(k) World: The Litigators
The final story in this quarter’s PLANADVISER In-Depth series considers 401(k) litigation’s present and future.
FlexPATH, Wood Group Beat TDF-Selection-Based Lawsuit
A 401(k) complaint alleging fiduciary imprudence was rebutted in a 70-page review of the committee’s selection and review process.
Encore Fiduciary Finds Inaccurate Fee Benchmarking in 401(k) Litigation
Fiduciary expert says the plaintiffs’ use of Form 5500s to measure fees creates erroneous comparisons, and he recommends its new...
401(k) Litigation Continues At ‘Fever Pitch’
Euclid Fiduciary’s litigation summary shows a dip in lawsuits in 2023, but signs of an uptick this year.
2023 Retirement Plan Litigation Highlights
Sean Duffy, investment & fiduciary consultant with Conrad Siegel, notes key cases and learnings from the year in 401(k) litigation.
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Litigation Trends to Watch in 2024: Drop in TDF Suits, More Forfeiture Complaints
Attorneys from Faegre Drinker Biddle & Reath LLP discuss qualified retirement plan litigation trends for the new year.
Tyson Foods Employees Allege Excessive 401(k) Plan Fees
The plaintiffs’ complaint included a detailed comparison of allegedly similar, lower-cost recordkeeper fees for the plan with $3.2B in assets.
United Airlines Sues Advisers for ‘Scheme’ to Defraud 401(k) Pilot Participants
A lawsuit filed in Minnesota federal court claims an independent advisory deceived participants by taking loans from their accounts for...