News & Analysis as of

Third-Party Service Provider Excessive Fees

Pullman & Comley - Labor, Employment and...

Employee Benefit Plan Fiduciaries: Why Solid Fee Benchmarking Should Be On Your To-Do List

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

Skadden, Arps, Slate, Meagher & Flom LLP

Another Mutual Fund Adviser Prevails at Trial in Excessive Fee Case

On July 31, 2019, Judge George H. Wu of the U.S. District Court for the Central District of California released tentative findings of fact and conclusions of law dismissing an excessive fee claim brought under Section 36(b)...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #9

Best Practices: Lessons Learned from Litigation (#2)—the Vanderbilt Case - I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - July 2016

The Future Is Now For 401(k) Plan Sponsors. The future is here. When I was the head ERISA attorney at a New York based third party administrator (TPA), I left because I saw the future of the retirement plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - June 2016

The New Fiduciary Rule: What It Means To Plan Sponsors - Bottom line: what does it mean? More than a dozen years ago, there was a medical report that dental plaque could cause heart disease. I thought it was some...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2016

Proskauer Rose LLP on

Editor's Overview - Happy New Year! Because 401(k) plans play an increasingly prominent role as an employee's principal retirement investment vehicle, fiduciaries overseeing those plans face increased pressure to see...more

Williams Mullen

Federal Court Dismisses “Excessive Fee” Claims Against Plan’s Service Provider: McCaffree Financial Corporation v. Principal Life...

Williams Mullen on

The U. S. Court of Appeals for the Eighth Circuit has affirmed the dismissal of a retirement plan’s claims against a company with whom the plan had contracted to provide the plan’s investment options. The holding in McCaffree...more

Proskauer - Employee Benefits & Executive...

Eighth Circuit Holds Service Provider Is Not A Plan Fiduciary In Excessive Fee Case

Continuing a trend in other Circuits, the Eighth Circuit held that a service provider that was contracted to provide the 401(k) plan’s investment options does not act as an ERISA fiduciary when, consistent with the terms of a...more

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