Compliance October 7th, 2022 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.
Compliance October 7th, 2022 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...
Compliance October 6th, 2022 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...
Compliance October 5th, 2022 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...
Compliance October 4th, 2022 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...
Compliance October 4th, 2022 Class Settlement Approved for AAA Carolinas ERISA Lawsuit The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Compliance October 3rd, 2022 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...
Compliance September 29th, 2022 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.
Compliance September 29th, 2022 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...
Compliance September 28th, 2022 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...
Compliance September 26th, 2022 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.’
Compliance September 26th, 2022 ERISA Suit Against Exelon Dismissed The plaintiffs had alleged that their employer maintained expensive and low-performing investment options for plan participants.
Compliance September 23rd, 2022 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...
Compliance September 22nd, 2022 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.
Products September 21st, 2022 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...
Compliance September 19th, 2022 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...
Compliance September 16th, 2022 Janus Henderson Sued for Allegedly Favoring Its Own Funds in Its Retirement Plan Class action lawsuit claims firm loaded its 401(k) plan with high-fee, underperforming proprietary funds.
Deals & People September 15th, 2022 Lori Lucas to Depart EBRI CEO Role After 5 Years at the Helm Lucas will continue in her current role through the end of 2022 and will help the research organization search for and transition to a new leader.
Compliance September 12th, 2022 Senator Calls for Confirmation Vote on Assistant Secretary of Labor Nominee Senator Patty Murray takes the 48th anniversary of ERISA to emphasize the importance of having a proper secretary to oversee...
Compliance September 8th, 2022 3rd Circuit Backs J&J in Stock-Drop Appeal A new order emphasizes that a stock-drop plaintiff must do more than allege a general economic theory of why earlier...