Plaintiffs in the now-dismissed case sought to establish that ‘corporate-insider fiduciaries’ violated their duties of prudence in the operation of an employee stock ownership plan.
The comment period of the DOL’s proposed amendment was scheduled to expire in late September, but the regulator says it will now accept comments through mid-November.
The lawsuit suggests Vernon and Shirley Hill invested as much as 70% of a profit-sharing plan’s assets in the stock of Metro Bank PLC, where Vernon Hill was...
A new bulletin addresses the ‘independence’ requirement for accountants who audit employee benefit plans under the Employee Retirement Income Security Act.
The mixed dismissal motion ruling, which sides mostly with the plaintiffs, agrees with the defense that certain data-sharing among providers was not inherently problematic.
The stressed union pension plan will receive more than $28 million in special financial assistance, including interest to the expected date of payment to the plan.
The target of a new Employee Retirement Income Security Act case is a plan sponsor with more than 20,000 participants that ‘periodically’ reviewed the plan’s investment options to...
The plaintiffs suggest their retirement plan’s fiduciaries failed to fully disclose the expenses and risk of the plan’s investment options to participants and beneficiaries, among other allegations.
The ruling only applies to the case at hand, but there are still lessons to be learned from an employer’s successful appeal to transfer excess assets from a...
An order against the firms, which were involved in lengthy litigation against Great-West, states that they behaved recklessly and unfairly in the pursuit of their claims.