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Tag: ERISA
ERISA Industry Committee Comments in Opposition to New DOL QPAM Rule
The DOL has proposed that QPAMs would be disqualified for 10 years for foreign convictions and for entering into non-prosecution...
ERISA Suit Brought Against Quanta Services
401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.
Proposed Legislation Would Ban Mandatory Arbitration and Discretionary Clauses
The Mental Health Matters Act would, among other things, ban forced arbitration clauses, class action waivers, discretionary clauses, and representation...
Insurer the Target of ERISA Lawsuit
An ERISA lawsuit against Mutual of America has alleged that 401(k) plan fiduciaries breached their duties to participants.
ERISA Lawsuit Against Associated Bank Dismissed
A Wisconsin District Court judge was unconvinced by arguments made by the plaintiffs that plan fiduciaries breached their duty to...
Cybersecurity Experts Warn of Increased Fraud Risk to Retirement Plans
Cybercriminals are becoming more sophisticated and patient in their approach due to the massive payouts fraudsters can manage to steal...
New Bill Seeks to Encourage 401(k) Investment in Alternative Assets
The Retirement Savings Modernization Act aims to clarify ERISA to incentivize retirement investment in assets such as real estate, private...
Settlement Reached with Couple that Lost Millions in Profit-Sharing Plan
The pair will pay more than $2 million to settle claims they invested assets in companies in which they had...
Class Settlement Approved for AAA Carolinas ERISA Lawsuit
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Home Depot Victorious in ERISA Suit
The judge ruled that even though Home Depot may have followed an imprudent process for choosing investments, the plaintiffs were...
Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Gomez Confirmed as New Head of EBSA
The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits...
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...
Lawsuit For Wake Forest University Retirement Plan Proceeds
The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
ERISA Suit Against Exelon Dismissed
The plaintiffs had alleged that their employer maintained expensive and low-performing investment options for plan participants.
Parties Reach Preliminary Settlement in 16-Year ERISA Lawsuit
Plaintiffs agree to settle for $267 million in a class action suit that alleged that PricewaterhouseCoopers LLP undercalculated lump-sum payments...
All 3 Defendants Move to Dismiss Cybersecurity ERISA Suit
The defendants are accused of ignoring several red flags, resulting in over $750,000 being stolen from a retirement account.
Wilmington Trust Introduces Digital CIT Onboarding Tool
Plan adviser users of the tool can automatically pull key data for the plan they are advising into the system...
Judge Rules in Favor of Goldman Sachs in ERISA Suit
A federal judge rules that Goldman Sachs did not privilege its own mutual funds at the expense of retirement plan...