Compliance | August 9th, 2023 DOL Lawsuit Alleges Participant Assets Locked by Fiduciaries The department is seeking access to retirement assets owned by employees of a closed time-share-properties business in Houston.
Benefits | August 4th, 2023 RTX Corp. Sued for Denying Beneficiary Long-Term Disability Benefits The aerospace and defense contractor was sued for allegedly failing to pay required long-term disability benefits to a disabled former...
Compliance | August 3rd, 2023 Defendants List Narrowed on American Airlines ESG Lawsuit Fidelity Institutional and Financial Engines Advisors, LLC were removed as defendants to the lawsuit, the court docket shows.
Compliance | August 2nd, 2023 UnitedHealth Group Insurance TPA, UMR Sued by DOL The Department of Labor’s complaint may indicate health care regulations are going the way of rules for retirement plans.
Administration | July 31st, 2023 Former HR Head Sues Investment Manager Alleging Retirement Plan Breaches The former director of human resources at alternatives specialist Weiss-Multi-Strategy Advisers has sued the company, adviser subsidiary and retirement plan...
Compliance | July 24th, 2023 Trustee GreatBanc Trust, Company Executives Sued for Disputed ESOP Sale, Valuation Former employees are suing GreatBanc Trust Co. and executives from Buckeye Corrugated Inc., a national packaging and display products manufacturer,...
Administration | July 21st, 2023 TECO Energy DB Plan Sued by Pension Beneficiary for Shortfall The complaint alleges the Florida-based energy company and its pension plan failed to disclose material information in the summary plan...
Deals and People | July 21st, 2023 Retirement Industry People Moves CalPERS names Teykaerts executive director; SageView hires Sarah Parker as plan consultant; SWBC Retirement brings on new investment adviser; and...
Administration | July 19th, 2023 Indiana Erector Set Manufacturer’s Former Chairman Sued by ESOP Participants The plaintiffs allege fiduciary breaches occurred in a leveraged buyout after the company founder’s death.
Administration | July 17th, 2023 DOL Seeks Independent Fiduciary for 401(k) Plan of Closed NY Construction Company When L D Wenger Construction Co. Inc. ceased operations, its 401(k) plan was deserted by the fiduciary, barring retirement plan...
Compliance | July 13th, 2023 403(b) Suit Against Wake Forest Health Center Settled for $3.8M Settlement comes about two years after initial complaint of fiduciary negligence and excessive fees.
Benefits | July 11th, 2023 Complaint Targets Waters Corp. 401(k) Plan, Board, Benefits Panel The suit, filed in Massachusetts federal court, alleges retirement plan fiduciaries caused participants to pay excessive fees to plan recordkeeper...
Benefits | July 10th, 2023 DOL Targets New Jersey 401(k) Plan for Concrete Companies Concrete producer Di Ferraro Inc. failed to remit employee withholdings and loan repayments to the plan over six years, the...
Benefits | July 7th, 2023 DOL Sues SIMPLE IRA Plan Sponsor for Pocketing Retirement Deferrals A Minnesota HVAC company is alleged by the Department of Labor to have misappropriated the retirement contributions of its’ employees,...
Benefits | July 6th, 2023 DOL Sues West Virginia Company for Fiduciary Breaches MSES Consultants Inc. failed to fund its health plan for much of 2016, leaving participants and beneficiaries on the hook...
Compliance | June 29th, 2023 Jury Delivers Win To Yale With 403(b) Lawsuit Verdict A jury decided almost entirely in the university’s favor in the nearly seven-year lawsuit.
Compliance | June 16th, 2023 DOL Sues Missouri Bankers Benefit Plan The Department of Labor has alleged one fiduciary breach against the plan’s trustees for operating with negative assets in six...
Compliance | June 16th, 2023 Lawsuit Targets California Medical Center 403(b) Plan A former employee of Cedars-Sinai Medical Center alleges onerous plan fees and under-performing funds.
Compliance | June 14th, 2023 Lawsuit Targets SaveATree Subsidiary ESOP, Trustees The Arborwell Inc. employee stock ownership program began in 2017, but the plaintiffs allege the ESOP’s 2020 sale to CI...
Compliance | June 12th, 2023 Legal Complaint Targets Pfizer 401(k) Plan Committee, Board The class action proposal seeks to recover retirement plan losses allegedly caused by fiduciary breaches leading to ‘unreasonable’ fees.