Displaying 23 results
AllianceBernstein 401(k) lawsuit booted
A court dismissed the case, pointing to the facts that the company waived fees for its participants and didn't really benefit from the assets.
EBSA reports $1.4B recovery haul from 2023 enforcement actions
The DOL unit closed nearly 200 criminal investigations and recovered more than $840 million through formal enforcement actions.
Retirement plan administrator accused of stealing millions
EBSA found that the third-party administrator embezzled at least $5.5 million in retirement plan assets.
401(k) settlements went way up in 2023
There were far fewer cases filed, but employers and their insurers agreed to big payouts for previously filed litigation.
New strategy in 401(k) litigation: Ask for settlement before suit is filed
Law firm Lieff Cabraser is reportedly busy sending letters to plan sponsors.
Lawsuit over ESG in 401(k) not cleared for takeoff, American Airlines says
ESG-themed funds named in the case are only available through a brokerage window, the defendant noted.
Verizon 401(k) lawsuit settles for $30 million
The settlement sends an uncomfortable message to retirement plan advisors and other fiduciaries, an observer says.
3 best practices for avoiding a fiduciary breach
Given the many lawsuits filed against retirement plan sponsors in recent years for breaching their fiduciary duties, here are the steps plan committees should be taking to mitigate risk.
Clean Harbors latest in shower of April ERISA cases, decisions
The environmental services company is being sued for overcharging 401(k) plan participants; meanwhile, similar cases concerning VCA and Trader Joe's heat up.
DOL sues employee benefit plan fiduciaries for over $2.8 million
The Labor Department charges a Chicago fund's fiduciaries and counsel with committing multiple ERISA violations.
Gomez would bring industry experience to DOL’s retirement plan oversight
The nominee to head Employee Benefits Security Administration could receive full Senate confirmation later this month.
ESG, the proposed DOL rule and fiduciary duty
The Labor Department's proposed ESG rule is a great step forward. The transition to a more sustainable economy will require increased attention to material risks and opportunities, including those related to ESG factors.
Russell, Wake Forest, Generac targeted in lawsuits
The new class-action suits against the three employers allege fiduciary breaches. Two defendants in other cases recently reached settlements over $1 million.
Who is your 401(k) client?
Retirement plan advisers have to choose one client over the interest of others – and that affects the services they provide, their fiduciary responsibilities and profitability.
401(k) sponsors in the dark about cognitive decline
A Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
DOL limits retirement-plan proxy votes to those affecting financial returns
The move could curb shareholder actions related to sustainable investing
New bill would require advisers to consider socially responsible investing in retirement plans
Michigan Democrat Andy Levin plans to introduce two bills in the House addressing ESG
How to stay out of trouble with ESG-related investments
What the DOL has failed to grasp is that today, ESG items can be financial factors, capable of creating value or exposing liability
Mutual of Omaha settles ERISA lawsuit for $6.7 million
The agreement would end the class-action suit brought in early 2018
Princeton settles DC lawsuit for $5.8 million
Plaintiffs in the class-action case alleged the school's retirement plans had high fees and poorly performing, restrictive investment options
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