As we discussed in our previous Alerts, "Novel Suit by Kentucky Pension Beneficiaries Continues" and "Kentucky Court Holds That Public Pension Plan Beneficiaries Lack Standing to Sue," beneficiaries of Kentucky's public...more
7/20/2020
/ Defined Benefit Plans ,
Employee Benefits ,
Fiduciary Duty ,
Injury-in-Fact ,
Investment Management ,
KY Supreme Court ,
Motion to Dismiss ,
Pensions ,
Public Pension ,
Standing ,
State Attorneys General
A lower court's decision to allow beneficiaries of Kentucky's Public Retirement System to sue administrators and advisors over fiduciary responsibilities is overturned....more
The Situation: The Pennsylvania Legislature passed Act 5 in 2017, which, among other things, created the Pennsylvania Public Pension Management and Asset Investment Review Commission ("Commission"). The Commission was...more
The Pension Review Commission has determined its recommendations to improve the management and performance of the state’s largest public pension systems
A Pennsylvania commission—tasked with evaluating and making...more
A Kentucky court decided in favor of the beneficiaries of Kentucky's Public Retirement System by striking down a motion to dismiss their suit, which alleges that administrators and their advisors breached their fiduciary...more
At its October 2018 meeting, the Pennsylvania Public School Employees' Retirement System ("PSERS") Board passed a resolution that created an ad hoc committee to look into fee-related issues. The committee will hold its first...more
Pennsylvania's Commission was told at the September hearing regarding the PSERS and SERS probe that $3.8 billion in investment fees have gone unreported.
The Commission in Pennsylvania that has been focusing on the...more