The United States Court of Appeals recently shed light on when—and under what conditions—a plaintiff may seek a monetary recovery under § 502(a)(3) of the Employee Retirement Income Security Act (ERISA). Section 502(a)(3)...more
The Second Circuit sent shock waves through the community of ERISA stock-drop practitioners late last year in Jander v. Retirement Plans Committee of IBM by finding plan participants had plausibly alleged a breach of duty of...more
7/26/2019
/ 401k ,
Breach of Duty ,
Certiorari ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
IBM ,
Pleading Standards ,
Retirement Plan ,
SCOTUS ,
Stock Drop Litigation ,
Stock Ownership
The U.S. Court of Appeals for the Fifth Circuit recently addressed “the labyrinthine complexities of ERISA law and practice.” Manuel v. Turner Industries Group, LLC, et al., No. 17-30835 (5th Cir. Oct. 1, 2018). ...more
In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and...more
8/13/2018
/ 401k ,
Colleges ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Excessive Fees ,
Fiduciary Duty ,
Investment Management ,
Popular ,
Retirement Plan ,
Universities
On June 5, 2017, in a split decision to be published, the U.S. Court of Appeals for the Tenth Circuit held that the plaintiff bears the burden on each element of its Employee Retirement Income Security Act of 1974 (“ERISA”)...more
In a unanimous decision, the U.S. Supreme Court in Tibble v. Edison International held that plan fiduciaries owe an ongoing duty to review plan investments periodically to ensure compliance with their obligations under the...more
In 2011, the U.S. Supreme Court recognized, for the first time, that some forms of equitable relief could lead to an award of a monetary payment for breach of fiduciary duty under section 502(a)(3) of ERISA, 29 U.S.C. section...more