Actively Managed Funds and High-Cost Share Classes Called Out in ERISA Suit
Participants of a terminated 403(b) plan say the plan sponsor's fiduciary breaches caused them approximately $4.6 million in losses.
Tag: ERISA
DOL Secretary Nominee Walsh Faces Senate Hearing This Week
Sources say Marty Walsh’s long-term ties to organized labor will likely be a main topic of discussion at the forthcoming confirmation hearings, but pension issues and retirement security...
DOL Q&A: What’s Next with ESG, Fiduciary and Proxy Regs?
The path ahead is clearer for insurance producers and fiduciary investment advisers compared with the potential ambiguities facing broker/dealers, says...
Court Finds Insufficient Evidence for ERISA Claims Against Intel
For most claims regarding the use of alternative investments in Intel Corp.'s retirement plans, the judge found the plaintiffs didn't...
DOL Secretary Objects to Provision in Settlements of DST ERISA Lawsuits
The settlements include a provision that would bar Secretary of Labor Eugene Scalia from continuing his efforts in a lawsuit he filed regarding the same matter.
Mercedes-Benz Is Latest National Brand to Face ERISA Litigation
Similar complaints have met different fates in the courts, based largely on the degree to which judges feel the preliminary...
Schlichter Strikes Again, This Time Against Takeda Pharma’s 401(k)
The lawsuit alleges that plan fiduciaries selected unproven TDFs for the plan, failed to monitor them and failed to replace...
Court Filing Details $13M UPenn 403(b) Lawsuit Settlement
Emergence of the settlement details comes after the filing of a stay motion in December.
Lawsuit Says Provider Used Plan to Promote Its Own Funds
Associated Banc-Corp is also accused of allowing the plan to pay excessive recordkeeping fees to its subsidiary.
Dueling Dismissal Motions Denied in BlackRock Self-Dealing Lawsuit
The ruling states there are genuine disputes of material facts as to make summary judgement, whether in favor of the plaintiffs or the defense, inappropriate at this time.
DST Systems, Investment Manager Settle Lawsuit Over Risky Retirement Plan Investment
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
Vail Resorts Wins Dismissal of ERISA Fiduciary Breach Lawsuit
The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.
401(k) Plan Administrator Sues VALIC Over Surrender Fees Charged to Plan
The insurer is charged with engaging in a prohibited transaction under ERISA when the fees were charged during a move to a new provider, as well as with...
Plaintiffs Petition SCOTUS in Wells Fargo Stock-Drop Litigation
The plaintiffs’ plea to the Supreme Court questions the precedents set by Fifth Third v. Dudenhoeffer—a 2014 high court ruling that significantly raised the pleading standards for ERISA...
Allstate Faces Additional ERISA Fiduciary Breach Lawsuit
A new complaint filed in Illinois echoes allegations leveled against the insurance company in a complaint from November.
A Few Important Points About the DOL’s Fiduciary Actions
Among other important developments, the Department of Labor has confirmed that one cannot simply write their way out of a functional fiduciary relationship.
Supreme Court Ruling Addresses ERISA Preemption
A recent decision filed by the U.S. Supreme Court has significant implications in the area of ERISA preemption of state laws and regulations, though the direct impact on...
Is the Tide of ERISA Litigation Turning?
One ERISA attorney who tends to represent plaintiffs says the future might hold fewer cases, thanks to certain key Supreme...
ERISA vista
The DOL’s Latest Proposed PTE
How advisers who only do rollovers would avoid prohibited transactions.