News & Analysis as of

Benefit Plan Sponsors 401k Breach of Duty

Proskauer - Employee Benefits & Executive...

District Court Dismisses Challenge to Use of Plan Forfeitures

A federal district court recently granted a motion to dismiss claims that defined contribution plan fiduciaries breached their fiduciary duties of loyalty and prudence, and violated ERISA’s anti-inurement and prohibited...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit: Changes to a Services Agreement Require Consideration of Indirect Compensation

A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing...more

Faegre Drinker Biddle & Reath LLP

Another 401(k) Plan Fiduciary Defeats Breach of Fiduciary Duty Claims at Trial

Following a bench trial in a Pennsylvania federal district court in Nunez v. B. Braun Medical, Inc., 401(k) plan fiduciaries defeated a lawsuit alleging that the fiduciaries imprudently managed and paid excessive...more

Proskauer - Employee Benefits & Executive...

ERISA Fee Complaint Dismissed in Pennsylvania District Court, Extending Favorable Trend

In Krutchen v. Ricoh USA, No. 22-cv-678, 2022 U.S. Dist. LEXIS 206792 (E.D. Pa. Nov. 15, 2022), a Pennsylvania district court dismissed an ERISA excessive fee complaint for failing to provide enough information about alleged...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Mutual of America sued over their plan

Mutual of America 401(k) plan participants have brought a class action lawsuit against Mutual of America Life Insurance Company for alleged breach of fiduciary duty....more

Proskauer - Employee Benefits & Executive...

Seventh Circuit Provides Hope for ERISA Plan Sponsors and Fiduciaries Defending Investment Fee & Performance Litigation

The Seventh Circuit recently provided a ray of sunshine in what has largely been a gloomy stretch for plan sponsors and fiduciaries defending ERISA breach of fiduciary duty claims based on allegedly excessive investment and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Ricoh sued over 401(k) Plan

Former employees have sued Ricoh USA, alleging breaches of fiduciary duty under ERISA....more

Jackson Lewis P.C.

Heightened Litigation Risk Is Not A Basis to Shield Attorney-Fiduciary Communications in 401(k) Litigation

Jackson Lewis P.C. on

A Massachusetts district court recently ordered defendants in an ERISA fiduciary breach case to produce certain communications with their in-house and outside counsel, rejecting defendants’ argument that the communications...more

Akin Gump Strauss Hauer & Feld LLP

Supreme Court Holds That Reasonably Prudent ERISA Fiduciaries Must Monitor Recordkeeping and Investment Manager Fees for All...

Key Points - 401(k) plan fiduciaries have the duty to monitor reasonableness of fees for all investment options available to participants under a 401(k) plan. Offering low-fee investment options does not alleviate the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

This case will be the mother of all battles

With so many fee litigation cases over the last few years, I was concerned that the Federal court was getting sick of cases where plaintiff’s attorney just merely pleaded that the costs of the plan were too much and. it was a...more

Goodwin

ERISA Litigation Update - October 2021

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Goodwin

ERISA Litigation Update - July 2021

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Abbott wins in theft suit, for now

Abbott Laboratories beat back a 2020 lawsuit from a 401(k) participant whose account was fraudulently raided of $245,000. The plaintiff, Heide Bartnett, also sued Alight Solutions, the plan’s recordkeeper, and that case...more

Jackson Lewis P.C.

California District Court Again Dismisses ERISA Lawsuit Challenging 401(k) Plan’s Fees

Jackson Lewis P.C. on

The Northern District of California dismissed with prejudice a lawsuit alleging a 401(k) plan’s sponsor and fiduciaries included unreasonably expensive funds in the plan’s investment lineup. The court previously dismissed...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Reliance settles their role in Insperity case for $40 million

Reliance Trust has settled one of the largest 401(k) excessive suit settlements in their role in the Insperity 401(k) plan. The price tag of the settlement is $39.8 million....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Red Cross sued over their 401(k) Plan

When you’re big enough, you are a target for a 401(k)lawsuit. The American National Red Cross has become another target for its 401(k) plan....more

Goodwin

ERISA Litigation Update - April 2021

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Proskauer - Employee Benefits & Executive...

Second Circuit Rules ERISA Fiduciary-Breach Claims Are Outside the Scope of General Employment Arbitration Agreement

In response to the deluge of ERISA class action breach of fiduciary duty claims, plan sponsors and fiduciaries have increasingly sought to compel individual arbitration of such claims pursuant to arbitration clauses in...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Parent Company of Victoria’s Secret Sued over 401(k) Plan

A former participant in the L Brands 401(k) Savings and Retirement Plan is suing the plan sponsor for breaching their fiduciary duty under the Employee Retirement Income Security Act (ERISA) by allowing excessive fees for...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Mutual of Omaha settles lawsuit

Mutual of Omaha Insurance Co. and its subsidiary United of Omaha has agreed to settle Mutual of Omaha’s 401(k) plan over allegations of self-dealing....more

Foley & Lardner LLP

401(k) Fee Lawsuits: What Can a Plan Sponsor Do?

Foley & Lardner LLP on

Most weeks, a plan sponsor (and frequently, several plan sponsors) is sued for breach of fiduciary duty in connection with the investment choices offered under its 401(k) or 403(b) plans. Often, the complaint alleges...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Cybersecurity Considerations for Retirement Plan Sponsors

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Nichole Labott, managing director at SageView Advisory Group, to discuss the importance of proper cybersecurity for retirement...more

Proskauer - Employee Benefits & Executive...

American Airlines 401(k) Plan Not Required To Offer Stable Value Fund

Among the many claims brought by plaintiffs challenging investment offerings in defined contribution plans is the claim that plans should offer stable value funds in lieu of more conservative capital preservation funds, such...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

ERISA litigators are always at the cutting edge

While every large 401(k) plan is a target for a class-action lawsuit over costs, I believe the years of litigation and fee disclosure regulations will exhaust the number of class-action lawsuits, as well as courts taking a...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Wisconsin Becomes a Hotbed for ERISA Class Action Claims

In recent months, Wisconsin federal courts have witnessed a dramatic increase in class litigation raising breach of fiduciary duty claims under the Employee Retirement Income Security Act of 1974 (ERISA). These claims target...more

79 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide