News & Analysis as of

Employee Retirement Income Security Act (ERISA) Retirement Fiduciary Duty

Kelley Drye & Warren LLP

Colgate-Palmolive 401(k) Theft Case Settles on Undisclosed Terms, Leaving Open Questions

Many who work with defined contribution plan administrators and consult plan sponsors on their ERISA fiduciary duties have been carefully monitoring Disberry v. Employee Relations Committee of the Colgate-Palmolive Company...more

Hogan Lovells

Court rulings put implementation of Department of Labor Fiduciary Rule on hold

Hogan Lovells on

Two federal district courts in Texas have issued orders staying the implementation of the United States Department of Labor’s (DOL) 2024 Fiduciary Rule (the Final Rule) and related prohibited transaction exemption amendments....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

New DOL rule frozen by Texas Federal judge

U.S. District Judge Jeremy Kernodle, of the Eastern District of Texas, has frozen the new fiduciary rules, by issuing a preliminary injunction to freeze the Department of Labor’s (DOL’s) Retirement Security Rule, which is...more

Morgan Lewis - ML Benefits

Stick to the (ERISA) Plan

The backbone of a fiduciary’s duties is the written plan document: understanding the key terms and adhering to them provides a bulwark against fiduciary breach. ERISA Sections 402(a)(1) and 404(a)(1)(d) require that every...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Paychex sued over distribution checks

Paychex is fighting a lawsuit by a participant claiming their distribution check was stolen in New York state court....more

Groom Law Group, Chartered

Is Your DC Plan Retirement Ready?

Participating in DC plans such as 401(k), 457, and 403(b) plans is the primary way most people save for retirement, and there is considerable sponsor and participant interest in making DC plans more effective at their primary...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Beware Of The Dark Side Of The 401(k) Business

I grew up in New York City and the City of today isn’t like it was when I grew up. They called it Fun City and not because it was fun unless you thought crime was fun. I remember going to take a Washington D.C. bus (because...more

McGuireWoods LLP

Lessons From Wood Group’s Success in ERISA Defense Over Target-Date Funds

McGuireWoods LLP on

In a win for employee retirement plan sponsors and investment managers alike, the U.S. District Court for the Southern District of California recently ruled in favor of the defendants following a bench trial in a class action...more

Jones Day

Another 401(k) Plan Sponsor Faces Novel Suit Regarding its Use of Forfeiture Funds

Jones Day on

The Employee Retirement Income Security Act ("ERISA") plaintiffs' bar has found a new way to allege that 401(k) plan sponsors have breached their fiduciary duty....more

Faegre Drinker Biddle & Reath LLP

ERISA Litigation Roundup: 401(k) Fee Suits Tossed for Pleading Deficiencies Is Positive Trend for Plan Fiduciaries

A judge in the Eastern District of Wisconsin recently issued a trio of decisions on the same day, which tossed suits alleging 401(k) plan mismanagement because all three complaints contained insufficient pleadings that did...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

These Things You Can’t Afford To Neglect About Your 401(k) Plan

We all know from your health, that if you neglect certain things, it will hurt you later down the line. Whether it’s your heart or your teeth, neglecting important health issues is only going to make the situation worse. The...more

Groom Law Group, Chartered

2024 Adjusted Penalties for ERISA Violations

On January 11, 2024, the Department of Labor (“DOL”) released a final rule that provides new figures reflecting the adjusted civil penalty amounts for 2024, pursuant to the Federal Civil Penalties Inflation Adjustment Act...more

Robinson Bradshaw

401(k) Plan Excessive Fee Suits 

Robinson Bradshaw on

For the fourth year in a row, excessive fee lawsuits are the hottest trend in ERISA fiduciary litigation. The number of excessive fee suits filed against 401(k) plan fiduciaries skyrocketed in 2020 and has remained unusually...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary Rule revamp begins, all over again

It looks like we may see a new fiduciary proposal this August, said the Department of Labor (DOL) in its Spring Regulatory Agenda. As Yogi Berra would say: “It’s de ja vu all over again.”...more

Proskauer - Employee Benefits & Executive...

New York District Court Rejects ERISA Excessive Fee Claims as Insufficient

A district court in New York recently dismissed a putative class action challenging retirement plan recordkeeping and investment management fees. The case is Singh v. Deloitte LLP, No. 21-cv-8458, 2023 WL 186679 (S.D.N.Y....more

Jackson Lewis P.C.

ESG Considerations for Retirement Plans: A Moving Target

Jackson Lewis P.C. on

For those with an eye on ERISA and its fiduciary rules, the past few years have caused whiplash when it comes to environmental, social, and corporate governance (“ESG”) investments in retirement plans....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - Volume 13 Issue 6, June 2022

Organization Ideas For 401(k) Plan Sponsors To Limit Liability Organization tools always pop up for sale after New Year’s because a lot of people want to try to keep their resolutions. My local Costco always trots out the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

I get what Fidelity is trying to do

People are scratching their heads, the Department of Labor (DOL) had grave concerns over offering crypto in 401(k) plans, and less than a week later, Fidelity announced their plan to offer Bitcoin as an option for plan...more

Holland & Hart - The Benefits Dial

You Spin Me QPAM Baby QPAM: DOL’s Proposed QPAM Rule May Mean Changes to Collective Trust Agreements for Plan Sponsors

The DOL published on July 27, 2022 a proposed change to the QPAM Exemption (“Proposed QPAM Amendment”) that may require retirement plan sponsors to update their collective trust agreements in order to satisfy the new DOL...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review

The Problems With Free and Small Retirement Plans - There is no such thing as a free lunch. There is no such thing as free advice. The more years I spend in the retirement plan business; I know that there is no such thing...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fight like hell for plan participants

A lot of talk in political circles surround politicians using fighting words. I’m not a politician and I don’t like to use my space for that....more

Seyfarth Shaw LLP

No, You Cannot Invest Your Retirement Plan to Save the Planet!

Seyfarth Shaw LLP on

Seyfarth Synopsis: On October 30, 2020, the Department of Labor (“DOL”) released a final regulation amending the fiduciary regulations governing investment duties under the Employee Retirement Investment Security Act of 1974...more

Burr & Forman

DOL Updates Factors For Selecting Plan Investments

Burr & Forman on

On October 30, 2020, the U.S. Department of Labor (the “DOL”) released a Final Rule to “provide clear regulatory guideposts for fiduciaries of private-sector retirement and other employee benefit plans in light of recent...more

Bowditch & Dewey

401(k) Investment Decisions: New DOL Guidance Raises a Green Flag

Bowditch & Dewey on

If you have a role in picking the investment options for your company’s 401(k) or 403(b) plan, newly proposed Department of Labor (DOL) guidelines puts guardrails around the use of Environmental, Social, and Governance...more

Groom Law Group, Chartered

Court Challenges to DB Plan Actuarial Assumptions – One Year Later

Eleven cases have been filed against defined benefit pension plan sponsors and certain fiduciaries alleging that the plan’s assumptions—called “actuarial equivalence factors” or “actuarial equivalence assumptions”— for...more

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