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.
Tag: ERISA
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.
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...
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...
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...
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...
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.
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...
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...
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...
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...
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...
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...
Plaintiffs Firms Must Pay $1.5 Million for ‘Reckless’ Litigation
A judge has determined that two law firms, Schneider Wallace Cottrell Konecky LLP and Schlichter Bogard & Denton LLP, are...
Dover Corporation Faces ERISA Suit Over Managed Account Fees
The proposed class action lawsuit challenges excessive managed account fees and the retention of Financial Engines, the managed account service...
L Brands Settles ERISA Suit After Dismissal Motions Fail
The plaintiffs in the case alleged various plan fiduciaries breached their duties under ERISA by allowing the payment of excessive...
More TDF Underperformance ERISA Lawsuits Filed
The new cases closely resemble a host of others filed in recent months that suggest fiduciary defendants selected underperforming target-date...
Lawsuit Against Northern Trust Over TDFs Will Proceed
The defendants’ motion to dismiss has been denied.
6th Circuit Ruling Revives Parts of TriHealth ERISA Lawsuit
The district court ruling in the case granted full dismissal of the excessive fee lawsuit, but the 6th Circuit has...