Compliance October 11th, 2023 Two Plan Sponsors Accused of Improper Use of 401(k) Forfeitures ERISA experts point to longstanding and widespread practice of using forfeitures to reduce future employer contributions or pay reasonable expenses.
Compliance September 25th, 2023 10th Circuit’s ‘Meaningful Benchmark’ Ruling Will Not Stymie Lawsuits, Experts Says Five circuit courts have now heightened the standard for 401(k) participant lawsuits, but ERISA attorneys do not expect lawsuits challenging...
Compliance September 14th, 2023 American Airlines Asks Judge to Toss 401(k) ESG Complaint The airline's motion maintains that former pilot has no standing in ESG investing lawsuit, including an amended complaint that sought...
Compliance September 1st, 2023 Are You Ready for Class Action Health Care Plan Fee Litigation? Joanne Roskey, a former DOL solicitor and current ERISA attorney, discusses how to prepare for the likely wave of litigation...
Compliance August 31st, 2023 Former American Airlines Pilot Fires Back in Retirement Plan ESG Suit The plaintiff doubles down on allegations the airline defaulted him into ESG-related funds.
Compliance August 14th, 2023 Lawsuit Would Block Missouri’s Anti-ESG Advising Rule Requiring registered advisers to follow state-level ESG disclosure rules violates federal law, according to SIFMA’s lawsuit.
Compliance August 11th, 2023 Live Nation 401(k) Plan Escapes Class Suit, Moves to Arbitration A federal judge in California ruled for Live Nation in a motion to move the case to arbitration.
Compliance August 8th, 2023 New 401(k) Litigators Use ‘More Credible’ Tactics in First Half of ‘23 Euclid Fiduciary’s mid-year litigation report finds fewer filings, as plaintiff law firms catch up on ’22, but new entrants using...
Compliance August 7th, 2023 American Airlines Files Motion to Dismiss 401(k) ESG Complaint The airline argued the case should be dropped partly because the ESG funds in question were not in the 401(k)...
Compliance August 3rd, 2023 Plaintiff Drops Fidelity, Financial Engines from American Airlines ESG Lawsuit The plaintiff voluntarily dismissed the two of four defendants from the lawsuit that claims ESG factors were considered ahead of...
Compliance June 5th, 2023 Pilot Sues American Airlines Due to ESG 401(k) Investing Strategy The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to...
Compliance May 26th, 2023 Court Dismisses O’Reilly Auto Excessive Fee Lawsuit A district court judge dismissed a case brought by six former employees claiming the auto parts company allowed 401(k) participants to...
Compliance May 16th, 2023 ASA: DOL Drops Appeal to 401(k) Rollover Advice Ruling According to the trade association, the regulator will not appeal a ruling that keeps 401(k) rollover advice outside of fiduciary...
Compliance May 9th, 2023 Aon, Astellas Pay to Settle CIT Conflict of Interest Litigation A 2020 case over the performance of proprietary CITs ends with a settlement.