Compliance | June 18th, 2015 World’s Largest Coal Company Faces ERISA Suit A former employee of Peabody Energy is suing the coal producer over company stock investments in its DC plans.
Compliance | June 10th, 2015 DOL Sues Firm Over Company Stock Purchases The Labor Department filed suit against a California-based manufacturer to recover millions of dollars for ESOP plan participants.
Compliance | June 10th, 2015 4th Circuit Revives Case Over Transfers to Cash Balance Plan The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
Compliance | June 8th, 2015 Settlement Reached in Fannie Mae Stock Drop Suit Affected participants will receive $9 million, less attorneys’ fees and settlement expenses.
Compliance | June 5th, 2015 U.S. Recommends Denial of RJR Stock Case Review U.S. Solicitor General Donald B. Verrilli Jr. said the questions before the Supreme Court in RJR Pension Investment Committee v....
Compliance | June 5th, 2015 PSNC: Avoiding Lawsuits It’s often simply a lack of oversight and processes not followed.
Compliance | May 29th, 2015 Documentation and Deliberation Remain Critical Post-Tibble Two experienced ERISA attorneys suggest the Tibble fee case ruling is a positive for retirement plan sponsors—highlighting important best practices...
Compliance | May 22nd, 2015 Increased Litigation Not Necessarily the Result of Tibble Some have taken the Supreme Court’s decision in Tibble vs. Edison as paving the way for increased litigation based on...
Compliance | May 19th, 2015 Considerations for Retirement Plan Sponsors after Tibble Ruling The U.S. Supreme Court has taken a modest step to ensure the fiduciary “duty to monitor” retirement plan investments is...
Compliance | May 18th, 2015 Supreme Court Reaches Decision in Tibble v. Edison The Supreme Court has vacated and remanded the specifics in the Tibble v. Edison fee case, but its decision seems to...
Compliance | April 29th, 2015 DOL Sues Bank for Excessive Retirement Plan Fees A lawsuit says City National Profit Sharing Plan fiduciaries engaged in self-dealing and conflicted transactions.
Compliance | April 17th, 2015 Court Finds Fraud in Failure to Investigate Participant Concern A retirement plan participant questioned his projected retirement benefit and a plan representative assured him it was correct, without further...
Compliance | April 13th, 2015 Calmer Perspectives on Tibble Fee Case Despite enormous industry attention paid to the case, some attorneys say a pending Supreme Court decision in the Tibble vs....
Compliance | April 9th, 2015 Real Estate Services Firm Settles Stock Drop Case LandAmerica Financial Group will pay $5 million to settle claims it held company stock in its 401(k) plan when it...
Compliance | April 6th, 2015 Fiduciaries to Pay $485K for Failing to Forward Payroll Deductions The DOL sued retirement plan fiduciaries in Connecticut for failing to forward contributions and loan repayments withheld from participants’ paychecks...
Compliance | April 3rd, 2015 Rhode Island Reaches Pension Accord With Some Unions If approved, a proposed settlement will end litigation from six challenges that arose from changes made to Rhode Islands’ public...
Compliance | March 26th, 2015 Ameriprise Financial Settles ERISA Fee Litigation Ameriprise will pay $27.5 million to settle a 401(k) excessive fee lawsuit.
Compliance | March 26th, 2015 Court Dismisses Fidelity Float Income Suit A federal district court has ruled float income is not a retirement plan asset belonging to participants.
Compliance | March 24th, 2015 Oral Misrepresentation Enough to State a Claim Under ERISA A pension plan participant who claims he didn’t receive promised credit for service can proceed with his lawsuit.
Compliance | March 18th, 2015 DOL Alleges Company’s ESOP Creation Was Flawed Accurate company valuations are critical when it comes to establishing an ESOP, the DOL says in an enforcement action announcement.