Risk April 29, 2021 Kimberly-Clark Faces ERISA Lawsuit over 401(k) Plan Lawsuit alleges fiduciary failure cost participants nearly $6.3 million in retirement plan services fees.
Risk April 20, 2021 Lawsuit: DC Plans More Vulnerable to ERISA Litigation Than DB Plans Lawyers taking aim at a company’s retirement savings plan say firms with 401(k)s should expect to be sued more than those with traditional pensions.
Market Moves April 19, 2021 Court Rules in Favor of Principal Life Insurance in ERISA Lawsuit District court judge concludes conflict of interest alone is not a breach of fiduciary duties.
Risk March 31, 2021 BlackRock Agrees to Settle ERISA Lawsuit Asset management giant ends class action litigation by paying plan participants $9.65 million.
Regulation March 24, 2021 GOP Senators Demand Reversal of DOL’s ESG Decision Republicans say retirement plans will be harmed if fiduciaries promote justice, diversity, and lower carbon emissions.
Regulation December 16, 2020 DOL Finalizes Fiduciary Exemption Consistent with Best Interest Standard Investment professionals can collect payment for a wider range of transactions, so long as they satisfy the reinstated ‘five-part test’ for fiduciaries.
Regulation December 14, 2020 Court Rules Pensions Can’t Exist in a State of Limbo In ‘most unusual case,’ judges back PBGC and find that someone must be held responsible for a pension even if the sponsor is long gone.
Risk November 30, 2020 Northern Trust Sued for Allegedly Loading 401(K) with Proprietary Duds Lawsuit claims default retirement plan investments have underperformed up to 90% of peers for nearly a decade.
Regulation November 25, 2020 DOL Sends Fiduciary Rule Update to OMB Experts believe the White House will conduct a quick review of the ‘middle-of-the-way’ proposal.
Pensions August 26, 2020 Court Rules for Colgate Retirees in Benefit Calculation Lawsuit Colgate may have to pay a total of $300 million to 1,200 retirement plan participants.
Pensions August 26, 2020 Teamsters Pension Asks Supreme Court to Reverse PE Firm Withdrawal Ruling Pension says circuit court ruling ‘provides a blueprint’ for private equity funds to ‘escape withdrawal liability.’
Pensions August 10, 2020 Public Funds Lead Institutional Investment Rebound Funds with significant exposure to equities outperformed during the second quarter.
Regulation June 4, 2020 Ohio Court Rules Segal Blend Violates ERISA Case has ‘significant ramifications’ for employers contesting their withdrawal liability from multiemployer plans.
Newsmakers June 1, 2020 Supreme Court Rules Pensioners in Fully Funded Plans Can’t Serve ERISA Suits Plaintiffs charging mismanagement of funds would have received the same fixed payment regardless of investment outcomes, the ruling said.
Regulation May 4, 2020 Judge Dismisses Trader Joe’s ERISA Lawsuit Court ruling shoots down five allegations of breach of fiduciary duty.