Stadion, United of Omaha Face Lawsuit Over Managed Account Offering
According to the lawsuit, Stadion directed participants’ accounts into investments that would better benefit itself and Mutual of Omaha, and...
Tag: Employee Retirement Income Security Act
(b)lines Ask the Experts – Do ERISA Cutback Provisions Apply to 403(b)s?
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000
In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...
Putnam Supreme Court Petition Asks About Comparisons to Index Funds
In addition to asking the high court to weigh in on whether the plaintiff or the defendant bears the burden...
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ERISApedia Adds Answers to Practical Questions to Qualified Plan eSource
S. Derrin Watson, a pension attorney and educator, has been answering questions from ERISApedia clients for the last year and...
A Year of Legislative and Regulatory Insight
“Saxon Angle” from PLANSPONSOR magazine touches on timely issues of the day.
Appellate Court Affirms Dismissal of Chevron ERISA Lawsuit
The 9th U.S. Circuit Court of Appeals found that the facts alleged are insufficient to support a plausible inference of...
USC Asks Supreme Court to Weigh in on Arbitration of Retirement Plan Claims
The 9th U.S. Circuit Court of Appeals previously concluded that the challenge to the management of the University of Southern...
Health Care System Sued Over Retirement Plans’ Governmental Status
A lawsuit alleges a health care system in North Carolina falsely claims to be a governmental entity, allowing it to...
Retirement Plan ERISA Litigation Trends Still Heating Up
It has only been about a year and a half since large U.S. universities became the target of ERISA lawsuits,...
DOL Clarifies Fiduciary Roles in Auto-Portability Solution
The agency says plan sponsors have fiduciary responsibility for selecting and monitoring Retirement Clearinghouse’s Auto-Portability Solution, but once assets have...
DOL Proposes Exemption for Retirement Plan Auto-Portability Solution
The agency is inviting public comment on the proposed exemption and encourages additional proposals.
Putnam Asks for Stay in Self-Dealing Case to Seek Supreme Court Input
The question for the Supreme Court is whether the plaintiff or the defendant bears the burden of proof on loss...
Appellate Court Revives Putnam Self-Dealing Suit
The 1st U.S. Circuit Court of Appeals found “several errors of law in the district court’s rulings.”
Fidelity Faces Another 401(k) Self-Dealing Lawsuit
The lawsuit not only calls out Fidelity’s use of all proprietary funds in its 401(k) investment lineup, but also accuses...
Court Pares Down 401(k) Self-Dealing Suit Against Neuberger Berman
Leaving only the prohibited transaction claim to move forward, a federal judge found most defendants were not fiduciaries with respect...
Business Owner Gets Prison for Benefit Plan Embezzlement
A DOL investigation found the business owner used benefit plan contributions for corporate and personal expenses.
Frontier Communications Stock Drop Lawsuit Alleges Imprudent Telecom Concentration
The DC plan trust of Frontier Communications was 219-times more concentrated in Verizon stock than defendants felt was appropriate for...
Judge Moves Forward Some Claims in M&T Bank Proprietary Funds Suit
Several defendants, including M&T Bank and certain Wilmington Trust subsidiaries were found not to be fiduciaries and dismissed from the...
Charles Schwab, Chamber of Commerce Ask Court to Reconsider Arbitration in USC Case
For its part, Schwab says the appellate court’s decision, which effectively invalidates agreements to arbitrate ERISA Section 502(a)(2) claims, conflicts...