A recently filed proposed class action lawsuit against IBM’s 401(k) plan fiduciaries highlights the importance for 401(k) plan fiduciaries to carefully select and monitor 401(k) plan investment options, especially the plan’s...more
Recently, the Department of Labor (DOL) issued an advisory opinion letter to AllianceBernstein permitting the AllianceBernstein Lifetime Income Strategy program for use as a qualified default investment alternative (QDIA) in...more
A proposed class action lawsuit filed against Empower last month highlights the importance for 401(k) plan fiduciaries to carefully negotiate their services agreements with recordkeepers and other services providers. The...more
9/4/2025
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Contract Terms ,
Data Privacy ,
Data Protection ,
Data Security ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Retirement Plan ,
Retirement Plan Providers ,
Third-Party Service Provider
Last week the White House issued an executive order directing the Department of Labor (DOL) and Securities and Exchange Commission (SEC) to facilitate 401(k) participants’ access to alternative investments, including private...more
The Department of Labor recently issued Compliance Assistance Release No. 2025-01 rescinding Compliance Assistance Release No. 2022-01 that directed 401(k) plan fiduciaries to exercise “extreme care” before adding...more
by Alex Smith The Supreme Court recently issued a decision regarding the pleading standards for ERISA prohibited transactions claims in a case involving Cornell’s 403(b) plan to resolve a federal circuit court split. Under...more
by Alex Smith A recently filed lawsuit related to Swiss Re’s 401(k) plan stands out because of the extensive assortment of allegations...more
4/2/2025
/ 401k ,
Class Action ,
Corporate Counsel ,
Employee Benefits ,
Employer Liability Issues ,
Excessive Fees ,
Fiduciary Duty ,
Investment ,
Recordkeeping Requirements ,
Retirement Plan ,
Risk Management ,
Roth IRA
Courts have been mixed regarding the enforceability of arbitration provisions in Employee Retirement Income Security Act (ERISA) retirement plans since the U.S. 9th Circuit Court of Appeals’ 2019 decision in Dorman v. Charles...more
While case law regarding the enforceability of arbitration provisions in ERISA retirement plans has been mixed, since the Ninth Circuit’s 2019 decision in Dorman v. Charles Schwab Corp. enforcing a 401(k) plan’s arbitration...more
Fidelity Investments recently announced that it will offer its 401(k) plan clients the opportunity to offer bitcoin as a 401(k) plan investment option later this year. While this may sound intriguing to some plan fiduciaries...more