Investment and Recordkeeping Fees Questioned In ERISA Lawsuit Against DaVita Inc.
Plan participants claim they were charged excessive fees for a plan with over $1 billion in assets.
Tag: ERISA
Order in Kimberly-Clark ERISA Suit Instructs Plaintiffs to Replead Case
While the order determines that outright dismissal at this stage is inappropriate, it also notes that the plaintiffs need to...
Court Allows Nationwide ERISA Suit to Proceed
The complaint says the defendants failed to negotiate contractual terms for the firm’s 401(k) plan’s guaranteed investment fund that were comparable...
Molina Healthcare Sued Over TDF Offering, Fees
A lawsuit says the organization offered ‘untested’ target-date funds and that those funds and others were more expensive than other funds available to use in its 401(k) plan.
Lawsuit Accuses Raytheon of Violating Rehires’ Benefits Rights
A former employee claims he wasn’t told he could repay to the company’s retirement plan his previous distribution and that...
Costco Agrees to $5.1M ERISA Case Settlement
The agreement, in which Costco admits no wrongdoing, also includes mandatory changes to the plan’s fee management process.
Lawsuit Alleges Hyatt’s Tip Policy Causes ERISA Violation
An employee has sued the company for not being able to defer a percentage of his tip wages into the...
DOL Compliance Notice Warns Against Crypto Risks
The DOL’s Compliance Assistance Release No. 2022-01 urges plan fiduciaries to exercise ‘extreme care’ before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu.
Josh Itzoe Launches FiduciaryRx Platform
The former Greenspring Advisors professional describes FiduciaryRx as a modern tech platform that empowers advisers to improve the ‘fiduciary wellness’ of their plan sponsor clients.
DOL Amends Certain Prohibited Transaction Exemptions
The amendments remove credit rating requirements related to the evaluation of non-convertible debt securities, commercial paper and securities lending transactions.
Partners Healthcare Defeats ERISA Actuarial Equivalence Lawsuit
The case has a complex procedural history that has seen rulings issued both in favor of the plaintiffs and in...
DOL to Hold Fiduciary Responsibilities Webcast Series in March
The agency says the webcasts will help employers and service providers understand provisions of ERISA and how to avoid common problems in plan management.
Settlement Agreement Reached in Land O’Lakes ERISA Suit
The case had been stayed in mid-2021 to give the parties a chance to explore mediation—a process that has now...
Supreme Court Won’t Consider CalSavers ERISA Preemption Lawsuit
The move by the high court stops an advocacy organization’s effort to halt the program, which provides workplace retirement savings...
Lawsuit Questions Use of Revenue Sharing by Ricoh USA
According to the complaint, participants in the company’s 401(k) plan were harmed by paying higher fees than participants in similarly...
Coca-Cola Consolidated Settles ERISA Fiduciary Lawsuit for $3.5M
The settlement includes both monetary and nonmonetary aspects.
Compliance News
Legislative and Judicial Actions
The DOL denies general support for private equity; the Supreme Court sends ‘Northwestern’ back to the appeals court; the PBGC...
Taylor Corp. Facing ERISA Recordkeeping Fee Suit
The lawsuit represents yet another case of a sub-$1 billion retirement plan finding itself the subject of excessive recordkeeping fee...
ERISA vista
An Objectivity Lesson
The more objective the presentation, the less likely it will seem like advice.
