News & Analysis as of

Retirement Plan › Public Employee Retirement Funds

Bricker Graydon LLP

Unicorn, Ostrich or Okapi? Fiduciary Duties for Governmental Retirement Plan Sponsors

Bricker Graydon LLP on

Most retirement plan sponsors know that ERISA - the federal law that imposes duties (and liability for breaching those duties) on certain individuals and entities that are defined as plan fiduciaries – is the primary source...more

Miller Canfield

Michigan Court of Appeals Protects Act 345 Health Care Funding for Retired Police Officers and Firefighters

Miller Canfield on

In a matter of first impression, the Michigan Court of Appeals held that municipalities may use tax dollars assessed under the Fire Fighters and Police Officers Retirement Act (a/k/a “Act 345”) to fund police and fire retiree...more

Jackson Lewis P.C.

Fiduciary Investment Advice: Implications Of Department Of Labor Prohibited Transaction Exception 2020-02

Jackson Lewis P.C. on

Employers who sponsor and maintain retirement plans on behalf of their employees and who engage investment advisors to provide investment-related advice to participants may take comfort in knowing there is a new prohibited...more

Fox Rothschild LLP

Public Retirement Systems And The Pandemic: Part III – The Litigation Risk Of Employer Disaffiliation Or Withdrawal

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The ongoing COVID-19 pandemic has presented public retirement systems with significant financial challenges that may cause some employers to attempt to disaffiliate or withdraw, leading to disputes about their ability to...more

Fox Rothschild LLP

Public Retirement Systems And The Pandemic: Part II – The Litigation Risk Of Benefit Modifications

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The ongoing COVID-19 pandemic has presented public retirement systems with a serious financial challenge. In response ? beyond reducing current retirees’ COLA, which we covered in Part I — plan settlors may seek to reduce...more

Fox Rothschild LLP

Public Retirement Systems And The Pandemic: Part I – A Coming Wave Of COLA Litigation?

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Public retirement systems in the United States are among the entities that may be particularly affected by the COVID-19 pandemic and the resulting economic downturn that has upended so many businesses and governments...more

Nossaman LLP

What’s Next After First District Court of Appeals’ Vested Rights Decision in MAPE v. MarinCERA?

Nossaman LLP on

On Aug. 17, 2016, Division Two of the First District Court of Appeal issued a unanimous published decision in MAPE et al. v. MarinCERA, et al. (Aug.17, 2016, A139610) upholding the constitutionality of certain aspects of the...more

Nossaman LLP

No Surprises in Recent Vested Rights Decision: Fry v. City of Los Angeles

Nossaman LLP on

The recent decision in Fry v. City of Los Angeles (California Second District Court of Appeal Case No. B259791, March 7, 2016) held, after careful parsing of the language in the City Charter and the applicable City...more

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