Labor & Employment Finance & Banking Civil Procedure

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Supreme Court Hits Home Run for 401(K) Plan Beneficiaries

This week’s decision by the United States Supreme Court in Tibble v. Edison International, 2015 U.S. LEXIS 3171 (May 18, 2015), is expected to trigger an increase in lawsuits against 401(k) plan fiduciaries....more

Tibble v. Edison International Decision Finds Ongoing Duty to Monitor Investments in 401(k) Plans

The Supreme Court holds that ERISA’s limitations period does not bar an alleged breach for failure to monitor a plan’s investments. Background - On May 18, the Supreme Court issued a unanimous decision in Tibble v....more

U.S. Supreme Court Decision on ERISA Fiduciary Duty Statute of Limitations Case Provides Broad Principle But Little Practical...

Last week the U.S. Supreme Court issued its opinion in Tibble v. Edison International, a highly anticipated case involving whether ERISA’s six year statute of limitations for breach of fiduciary duty claims prevented a claim...more

Supreme Court: ERISA Fiduciaries Have Ongoing Duty to Monitor Investments - Selection of Plan Investment Alternative Is Not a...

In Tibble v. Edison International, 13-550 (U.S. May 18, 2015), the U.S. Supreme Court ruled that the Employee Retirement Income Security Act of 1974 (ERISA) requires ERISA plan fiduciaries to monitor plan investments for...more

U.S. Department of Labor Re-Proposes Rules Governing the Definition of “Fiduciary”—Part 3: The Impact on Large Retirement Plans

In Part 1 of this series, we reported on recently proposed regulations issued by the U.S. Department of Labor amending the definition of the term “fiduciary” under the Employee Retirement Income Security Act (ERISA) and the...more

Unanimous Supreme Court Decision Paves Way for 401(k) Plan Lawsuits

On May 18, 2015, the U.S. Supreme Court rendered a unanimous decision that may pave the way for more lawsuits against ERISA plans alleging a breach of fiduciary duty regarding plan fees and choice of investment alternatives....more

Supreme Trouble with Tibble

While the Supreme Court ruled in the monumental 401(k) case Tibble v. Edison that mostly dealt with statute of limitations issues, one could read something into it a little more. Tibble was the case where the District...more

Supreme Court Rules on Plan Fiduciaries Duty to Monitor Plan Investments

In a unanimous decision, the U.S. Supreme Court held on Monday, May 18, 2015, that a plan trustee has a continuing duty to adequately monitor plan investments and remove imprudent ones. Tibble v. Edison, Int’l, 2015 BL...more

Class Certified in Pennsylvania Payroll Debit Card Litigation

We previously discussed on this blog the potential risks associated with the use of payroll debit cards to pay wages to employees. The absence of federal and state regulations specifically addressing this relatively new...more

Supreme Court Ruling Heightens Pressure on Fiduciaries to Monitor 401(k) Plan Investments

On May 18th, the U.S. Supreme Court unanimously held in Tibble et al. v. Edison International et al., No. 13-550 (S. Ct. May 18, 2015) that ordinary principles of trust law impose on ERISA fiduciaries a duty to continually...more

Some Limited Trouble with Tibble? Part II –Supreme Court Decides Excessive-Fee Case Involving 401(k) Plan

Earlier this week, the U.S. Supreme Court unanimously decided the case of Tibble v. Edison International. In Tibble, the Court held that the statute of limitations under the Employee Retirement Income Security Act of 1974...more

401(k) Fee Litigation to Increase Following Tibble Decision

As a result of the U.S. Supreme Court’s decision in Tibble v. Edison Int'l, it will now be easier for participants in 401(k) and other participant-directed plans to bring lawsuits challenging investment options added to the...more

Locke Lord QuickStudy: The Supreme Court Opines In Tibble v. Edison That The Duty to Monitor Investments Is Ongoing

In a highly anticipated decision, the United States Supreme Court recently held that a 401(k) fiduciary breach lawsuit may proceed even when the claim is based on an imprudent selection of investment funds that occurred more...more

Supreme Court: 401(k) Plan Fiduciaries Have An Ongoing Duty To Monitor

In April 2013 I reported on the 9th Circuit Court of Appeals decision in Tibble v. Edison International which involved an alleged breach of fiduciary duty by the Edison 401(k) Savings Plan committee selecting six retail...more

Unanimous Supreme Court Vacates Tibble v. Edison International: Much Ado About Nothing? Or Something More?

On May 18, 2015, the United State Supreme Court, by a 9-0 vote, vacated and remanded the Ninth Circuit’s holding in Tibble, et al. v. Edison International, et al., 729 F.3d 1110 (9th Cir. 2013). Tibble is an “excessive fee”...more

"Supreme Court Recognizes ERISA Fiduciary Duty to Monitor Plan Investments"

On May 18, 2015, a unanimous U.S. Supreme Court held in Tibble v. Edison International1 that fiduciaries who select investment options for 401(k) plans have a continuing duty under the Employee Retirement Income Security Act...more

Supreme Court Update: Harris V. Viegelahn (14-400), Tibble V. Edison International (13-550), Henderson V. United States (13-1487)...

As we approach June, the Court is attempting to clear out its docket, issuing six decisions Monday. We'll cover four short ones—all unanimous—here: Harris v. Viegelahn (14-400), holding that a debtor who converts from Chapter...more

Continuing Duty To Monitor? Yes. Scope of That Duty? Wait And See…

In a case we have blogged about before, the Supreme Court in Tibble v. Edison International unanimously has concluded that an ERISA fiduciary has a continuing duty to monitor investments made in an ERISA governed savings...more

The ERISA Litigation Newsletter - May 2015

Editor's Overview - This month we focus on the EEOC's proposed rules concerning wellness programs. As our colleague, Amy Covert, discusses, a recent change of position by the EEOC provides employers with opportunities...more

Supreme Court Instructs Ninth Circuit to Consider Common Law of Trusts in Applying ERISA's Statute of Limitations

The Supreme Court has once again emphasized the importance of ERISA’s origins in the common law of trusts, this time in interpreting its statute of limitations. On May 18, the Court reversed the Ninth Circuit’s decision in...more

Spring Vacations: Which arguments are winning on appeals from arbitration so far in 2015?

Today I present a collection of recent state and federal appellate court decisions that vacate or un-vacate arbitration awards. The seven opinions below emphasize how difficult it is to prove that an arbitrator exceeded his...more

ERISA Plan Sponsors – Are You Monitoring Investments and Fees?

In a unanimous decision, the U.S. Supreme Court vacated the Ninth Circuit’s decision in Tibble v. Edison International and remanded for determination of the scope of an ERISA plan fiduciary’s duty to monitor plan investments...more

Supreme Court Clarifies Scope of Fiduciary Duty Under ERISA

On May 18, the Supreme Court held, in Tibble v. Edison International that a fiduciary “has a continuing duty to monitor trust investments and remove imprudent ones. This continuing duty exists separate and apart from the...more

Supreme Court Vacates Ruling on Time-Barred ERISA Claims

In Tibble v. Edison Int’l1, the U.S. Supreme Court today vacated a Ninth Circuit ruling that Edison plan beneficiaries' ERISA (Employee Retirement Income Security Act) fiduciary claims against the company based on allegedly...more

Supreme Court: ERISA Imposes Continuing Fiduciary Duty to Monitor Plan Investment Options

Section 409 of ERISA imposes personal liability on a plan fiduciary to make good to the plan any losses resulting from the fiduciary’s breach of any duties imposed by Title I of that statute. Section 413 provides generally...more

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