A recent US Court of Appeals for the Seventh Circuit case supplies answers to many questions left open in 401(k) fee litigation cases after the US Supreme Court’s ruling earlier this year in Hughes v. Northwestern University....more
The US Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for...more
7/23/2019
/ Benefit Plan Sponsors ,
Breach of Duty ,
Certiorari ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Funds ,
Pensions ,
Retirement Plan ,
SCOTUS ,
Standing
On Monday, the US Supreme Court agreed to review the Second Circuit’s decision in Jander v. Retirement Plans Committee of IBM, a “stock drop” lawsuit against IBM’s benefit plan fiduciaries. The Second Circuit’s decision...more
6/11/2019
/ Breach of Duty ,
Certiorari ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
IBM ,
Pleading Standards ,
Retirement Plan ,
SCOTUS ,
Standard of Care ,
Stock Drop Litigation
A recent summary-judgment decision explains how individual releases can bar the individual from pursuing ERISA fiduciary-breach claims on behalf of the plan. A plan, employer or fiduciary that wants to ensure a release that...more
5/20/2019
/ Breach of Duty ,
Depositions ,
Discovery ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
Former Employee ,
Hiring & Firing ,
Release Agreements ,
Severance Agreements ,
Summary Judgment
A recent Eighth Circuit decision regarding “cross-plan offsetting” serves as an important reminder of how ERISA’s fiduciary duties impact both employers and fiduciaries who handle claims.
The case involved the common...more
Recently, the US District Court for the District of Columbia dismissed a proposed class action lawsuit brought by former Georgetown employees under the Employee Retirement Income Security Act of 1974 (ERISA) over fees and...more
1/30/2019
/ 401k ,
403(b) Plans ,
Breach of Duty ,
Class Action ,
Defined Contribution Plans ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Fees ,
Fiduciary Duty ,
Former Employee ,
Investment Management ,
Investors ,
Mismanagement ,
Retirement Plan ,
Universities
The US Court of Appeals for the Eighth Circuit recently affirmed a Minnesota district court’s dismissal of a claim against Wells Fargo & Company (Wells Fargo) under ERISA. A former employee had alleged Wells Fargo breached...more