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...
Compliance September 7th, 2022 Judge Rejects Chamber’s Commentary in ERISA Suit The court rejects the defense’s motion to dismiss the case, but denies the U.S. Chamber of Commerce’s bid to submit...
Compliance September 6th, 2022 DOL Sues Couple, Alleges They Lost Millions in Profit-Sharing Plan A prominent New Jersey couple faces allegations that they invested plan assets in companies in which they had significant financial...
Compliance September 2nd, 2022 DOL Updates Guidance on Audit Independence Rules Labor Department leadership says the update is designed to expand retirement plans’ access to highly qualified auditors and audit firms.
Compliance September 1st, 2022 District Court Rejects Cross-Selling Claims in Mixed ERISA Ruling Much of the ruling sides with plaintiffs and permits the case to move to discovery, but the defendants successfully defeat...
Compliance August 30th, 2022 Plaintiffs Say 401(k) Plan Omitted Target-Date Funds Among Problems The target of a new Employee Retirement Income Security Act is a plan sponsor with more than 20,000 participants that ‘periodically’ reviewed the plan’s investment options to ensure...
Compliance August 25th, 2022 Plaintiffs Allege AME Church Plan Agreed to ERISA Status The consolidated class action complaint suggests the church plan at issue is an ERISA plan because the summary plan document...
Compliance August 22nd, 2022 Global Insurance Firm Latest to Face ERISA Litigation The plaintiffs claim familiar allegations pertaining to excessive recordkeeping and administrative fees.
Compliance News Legislative and Judicial Actions The SEC favors proxy voting advice rule amendments; the PBGC issues final rule implementing the Special Financial Assistance program; appeals...
Compliance August 19th, 2022 Marmon Holdings Faces Latest Capozzi Adler Complaint As in many prior ERISA cases, the plaintiffs allege their DC plan fiduciaries breached their duties by failing to adequately...
Compliance August 18th, 2022 7th Circuit Issues Key Stock Drop Decision in Boeing Max Case One expert attorney says the decision has particular importance to plan sponsors and fiduciaries who have employer stock as an...