News & Analysis as of

Retirement Plan › Settlement

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Edward Jones Forks over $3 million in 401(k) lawsuit

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Edward Jones is going to pay $3.2 million to settle a lawsuit alleging they were using investments in the 401(k) plan to enrich themselves....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity sued again over their 401(k) plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I have always been concerned about the use of proprietary funds, especially belong to mutual fund companies and their use in their own 401(k) plans because they’re ripe to be a target for a class action lawsuit. Fidelity...more

Best Best & Krieger LLP

Settlement Reached with CalPERS on Behalf of Truckee BB&K Represented Town in Negotiations

Best Best & Krieger LLP on

Following a CalPERS audit of the Town of Truckee, Calif. about three years ago, CalPERS determined that merit pay was not PERSable because it was only offered to employees who had reached the maximum on their salary ranges....more

Carlton Fields

Fifth Circuit Vacates Settlement Approval in ERISA Class Action, Remanding With Instructions to Reexamine the Legitimacy of...

Carlton Fields on

The Fifth Circuit recently vacated a class action settlement that included unsecured and uncollateralized future payments to the plaintiffs, while providing a swift and complete payout of fees to class counsel. The case...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Problem With Providers Using Their Own Funds In Their 401(k) Plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I always say that I come up with many ideas, but most of them are bad. Seriously, there are so many bad ideas out there in the 401(k) space and one of the really bad ideas out there are bundled plan providers using their own,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Providers and their Plans

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I love Clint Eastwood movies and one favorite is “In The Line of Fire’. John Malkovich is playing a wannabe Presidential assassin named Leary and Clint is playing Frank Horrigan, the Secret Service agent who is trying to...more

Goodwin

Plan Sponsor Agrees to $62 Million Settlement in ERISA Case Challenging 401(k) Plan Fees

Goodwin on

Lockheed Martin Corp. has settled the 401(k) excessive fee litigation pending against it in federal court in Illinois....more

Goodwin

Insurer Agrees to $140 Million Settlement in ERISA Case Challenging Revenue Sharing Practices

Goodwin on

Nationwide Life Insurance Co. has agreed to settle ERISA fiduciary breach claims brought on behalf of a class of retirement plan trustees that purchased annuity contracts and/or services from Nationwide for their plans....more

Holland & Knight LLP

Religious Institutions: August 2014

Holland & Knight LLP on

If the Internal Revenue Service (IRS) had a moratorium on enforcing §501(c)(3) electioneering restrictions against churches and religious organizations, the IRS states that it has been lifted incident to the settlement and...more

Carlton Fields

DC Circuit Holds Named Plaintiff Who Settles Individual Claims Retains Standing To Appeal Denial Of Class Certification

Carlton Fields on

In Stephens, two former pilots brought a putative class action lawsuit against their employer airline and their retirement plan, alleging that a delay in paying retirement benefits and failure to pay interest during the delay...more

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