Last May, we provided a client alert about a recent federal district court case (Spence v. American Airlines, No. 4:23-cv-00552-O, 2025 WL 225127, at *2 (N.D. Tex. Jan. 10, 2025)), in which a plan sponsor and certain plan...more
10/29/2025
/ 401k ,
American Airlines ,
Benefit Plan Sponsors ,
Damages ,
Duty of Loyalty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Fiduciary Duty ,
Investment Management ,
Investment Opportunities ,
Plan Participants ,
Proxy Voting ,
Regulatory Requirements ,
Retirement Plan
In our recent client alert, “Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged “ESG Investing” Without Any ESG Funds,” we reported that a Texas district court recently upheld Biden-administration...more
6/5/2025
/ 401k ,
Biden Administration ,
Compensation & Benefits ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Investment Opportunities ,
Regulatory Reform ,
Retirement Plan ,
Rulemaking Process ,
Trump Administration
On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more
5/16/2025
/ 401k ,
American Airlines ,
Asset Management ,
Compensation & Benefits ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
ERISA Litigation ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Funds ,
Investment Management ,
Investment Opportunities ,
Popular ,
Proxy Voting ,
Retirement Plan
While year-end is ordinarily a busy time for companies, the number of COVID-19-related pieces of legislation and developments present additional items employers and plan sponsors must address in wrapping up 2021....more
11/16/2021
/ CARES Act ,
COBRA ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Hardship Distributions ,
IRS ,
MHPAEA ,
Retirement Plan
Section 105 of the Employee Retirement Income Security Act of 1974, as amended (ERISA), requires administrators of defined contribution plans to provide participants with periodic pension benefit statements. Benefit...more