Virtual Currency Regulations: Key Insights for the Payments Industry — Payments Pros – The Payments Law Podcast
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Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts
Excessive fee cases against plans governed by the Employee Retirement Income Security Act (ERISA) have been on the rise for the last decade. ERISA litigation is expanding with novel theories such as forfeiture litigation....more
Certain transactions between employee benefit plans and “parties in interest” are prohibited under the Employee Retirement Income Security Act of 1974, as amended (ERISA). ...more
Under the Supreme Court’s recent decision in Cunningham v. Cornell University, No. 23-1007 (April 17, 2025), plaintiffs asserting that ERISA plan administrators engaged in prohibited transactions under ERISA Section 406 are...more
On April 17, 2025, the Supreme Court of the United States clarified the pleading requirements to bring a prohibited-transaction claim under the Employee Retirement Income Security Act of 1974 (“ERISA”) in Cunningham v....more
On April 17, the Supreme Court unanimously resolved a circuit split in Cunningham v. Cornell University, holding that plan participants need only allege that fiduciaries engaged in a “prohibited transaction” under the...more
On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University,...more
On April 17, 2025, the U.S. Supreme Court issued a decision that dealt a blow to benefit plan fiduciaries nationwide. The Court unanimously held in Cunningham v. Cornell University that a plaintiff asserting that a plan and...more
On April 17, 2025, the Supreme Court decided Cunningham v. Cornell University, unanimously holding that a plaintiff can state a valid claim under ERISA by merely alleging that a plan used “plan assets” to pay a service...more
On April 17, 2025, the U.S. Supreme Court issued a unanimous opinion in Cunningham v Cornell University, addressing the pleading standard applicable to prohibited transaction claims under the Employee Retirement Income...more
On April 17, 2025, the Supreme Court resolved a circuit split on the appropriate pleading standard for a specific type of prohibited transaction claim under ERISA. While that decision may sound dry and technical, the...more
In a unanimous decision reversing dismissal of prohibited transaction claims based on fees paid to defined contribution plan recordkeepers, the Supreme Court held that ERISA’s prohibited transaction exemptions are affirmative...more
The most recent wave of ERISA litigation is focused on the use of plan forfeitures in 401(k) plans, with the newest case, Armenta v. WillScot Mobile Mini Holdings Corp. being filed just last week. Although, for years, many...more
Many employer-sponsored defined contributions plans, including 401(k) profit sharing plans and money purchase pension plans include a vesting schedule – a period over which a plan participant earns a nonforfeitable right to...more
Key Takeaways - In October 2024, SCOTUS granted review of Cunningham v. Cornell University to provide guidance on certain pleading standards in ERISA litigation claims, with oral arguments scheduled for January 2025....more
In our December 7, 2023 post, we noted five class action lawsuits, all filed by the same law firm within two months, in which 401(k) plan participants allege plan fiduciaries violated ERISA by using plan forfeitures to offset...more
ERISA’s prohibited transaction rules are notoriously complex and opaque. On August 4, 2023, the Ninth Circuit issued an important decision on those prohibited transaction rules that arguably conflicts with decision from the...more
I am always against conflict of interest, going back to the day pre-fee disclosure when producing third party administrators (TPAs) were not transparent about the revenue sharing they collect. Beyond that, I’m also against...more
North Carolina District Court Permits Plan’s Lawsuit Against Third Party Administrator to Continue A federal district court in North Carolina has ruled that a plan subject to the Employee Retirement Income Security Act of...more