Compliance July 22nd, 2021 ERISA Ruling in 5th Circuit Supports American Airlines Defendants The appeals court has technically affirmed, vacated and reversed parts of a district court ruling that granted summary judgement against...
Compliance July 21st, 2021 MetLife Accused of Favoring Proprietary Index Funds in 401(k) The lawsuit suggests that MetLife had an imprudent and disloyal preference for its index fund products, in part because of...
Compliance July 19th, 2021 Judge Allows Claims in ERISA Suit Against Prime Healthcare to Proceed The lawsuit challenges the company's use of an active TDF suite in its 401(k) plan, among other things.
Compliance July 14th, 2021 Confidential Settlement Reached in Excessive Fee Suit Against Voya A previous court decision left only one claim in the lawsuit, which was related to fee disclosures.
Compliance July 14th, 2021 Koch Industries Agrees to $4 Million Settlement of ERISA Excessive Fee Suit The settlement includes a stipulation to perform a recordkeeper RFP.
Compliance July 13th, 2021 Lawsuit Claims Yum! Brands Misclassified Employee, Denied Him Retirement Benefits The complaint alleges that the plaintiff met the test for employee status per prior case law, but Yum misclassified him...
Compliance July 9th, 2021 Judge Stays Land O’Lakes Lawsuit for Mediation The Land O’Lakes defendants’ motion to dismiss the suit based on a lack of subject matter jurisdiction and failure to...
Compliance July 7th, 2021 ERISA Lawsuit Filed Against AAA Carolinas The plaintiffs in the case say that when the plan switched to cheaper share class TDFs, participant accounts should have been ‘repaired.’
Compliance July 7th, 2021 Plaintiffs in T. Rowe Price ERISA Lawsuit Denied Interlocutory Appeal The plaintiffs wanted an appellate court to decide whether a plan amendment requiring the use of T. Rowe Price funds...
Compliance July 6th, 2021 Court Affirms Arrangement Between Sponsor and Recordkeeper Not a Prohibited Transaction After reviewing a decision in an ERISA lawsuit against Banner Health, the 10th Circuit also found no reason to order...
Compliance July 2nd, 2021 Hidden Commissions, Fraud Alleged in New Fiduciary Breach Lawsuit Plaintiffs in a lawsuit filed in Tennessee say their adviser never disclosed that he received a commission on the sale...
Compliance July 2nd, 2021 High Court Agrees to Review Northwestern University ERISA Suit The review could clarify what qualifies as a plausible claim for relief in DC plan excessive fee suits.
Compliance July 2nd, 2021 DOL Addresses Question About Providing Audio Recordings to ERISA Claimants The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to...
Compliance June 25th, 2021 A DOL Fiduciary Rule and PTE Refresher No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection...
Compliance June 24th, 2021 $5.4 Million Settlement Negotiated in Transamerica ERISA Suit The settlement agreement also calls for continued fiduciary training for trustees and continued use of an unaffiliated investment consultant.
Compliance June 23rd, 2021 Former Employee Claims DuPont Misled Him About Benefits Availability A federal judge has found it plausible that DuPont was misleading, based on benefits notices sent to the former participant.
Compliance June 21st, 2021 A Well-Informed Look at the EBSA’s Terminated Vested Participant Project Justine Kim worked as a DOL investigator from 2006 to 2018. In this guest article, she offers tips for advisers...
Compliance June 16th, 2021 Mixed Ruling Issued in MetLife Mortality Table ERISA Lawsuit The retirees’ main claim is that the plan’s use of mortality tables from 1971 and 1983 to convert default retirement benefits into the alternative benefits that they opted...
Compliance June 16th, 2021 Judge Significantly Pares Down Claims in ERISA Excessive Fee Suit Some claims against Konica Minolta and its 401(k) committee were moved forward but all claims against the company’s board were...
Compliance June 11th, 2021 ERISA Excessive Fee Lawsuit Filed Against Generac Power Systems The complaint includes allegations similar to those in many suits filed over the past few years.