Fiduciaries responsible for the investment of almost $30 trillion in U.S. retirement funds are required by federal law (ERISA) to discharge their duties “solely in the interest of participants and beneficiaries” for the...more
ERISA generally requires retirement plan fiduciaries to invest prudently, diversify assets to minimize the risk of large losses, and act solely in the interest of plan participants. These duties have been interpreted as...more
The U.S. Department of Labor has recently issued a proposal for meeting fiduciary duties when evaluating retirement plan investments having environmental, social and governance (ESG) factors....more
The U.S. Supreme Court recently heard arguments in Hughes v. Northwestern University, in which the Seventh Circuit Court of Appeals had rejected claims that the fiduciaries of two defined contribution retirement plans at...more
2/17/2022
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Plan Participants ,
Remand ,
Retirement Plan ,
Retirement Plan Providers ,
SCOTUS
Private Equity Investments in Defined Contribution Plans -
The US Department of Labor (DOL) recently concluded in Information Letter 06-03-2020 that, if properly structured, offering a professionally managed fund with a...more
7/7/2020
/ 401k ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Information Letters ,
Investment ,
Investment Management ,
Private Equity ,
Retirement Plan
Targeting Educational Institutions -
Since August, 2016, sixteen institutions of higher education with large retirement plans have become targets of federal lawsuits for breach of fiduciary duty under ERISA. To date, the...more
Financial institutions that sell mutual funds to the public often maintain 401(k) and other retirement plans for their own employees. In these plans, many financial institutions make their own mutual funds available to...more
For years, employers have been getting a free pass from the courts for a number of different violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the operation of retirement, medical,...more
Many employers offer 401(k) and other retirement plans for their employees as part of the cost of doing business. Too often, retirement plans are established and operated without much thought given to the numerous legal...more