A federal district court rebuffed putative class claims alleging that Cigna Health and Life Insurance Co. and two of the plans it administered violated the Mental Health Parity and Addiction Equity Act of 2008 (“MHPAEA”) by...more
A federal district court in Massachusetts dismissed ERISA fiduciary breach and prohibited transaction claims against 401(k) plan fiduciaries, ruling that the prohibited transaction claims were time-barred and the fiduciary...more
4/18/2024
/ 401k ,
Attorney's Fees ,
Breach of Duty ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Fiduciary Duty ,
Investment Funds ,
Motion to Dismiss ,
Prohibited Transactions ,
Proprietary Funds ,
Recordkeeping Requirements ,
Settlement Agreements ,
Statute of Limitations
A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing...more
9/22/2023
/ 401k ,
Benefit Plan Sponsors ,
Breach of Duty ,
Class Action ,
Compensation ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Adviser ,
Real Party in Interest ,
Recordkeeping Requirements ,
Service Agreements
A recent Seventh Circuit decision affirms the principle that an ERISA severance plan can reserve to the employer discretion over who is eligible for severance benefits. The case is Carlson v. Northrop Grumman Severance Plan,...more
Two recent district court decisions add to the growing number of courts granting motions to dismiss putative ERISA class actions challenging defined contribution plan fees and investment performance. These decisions from the...more
10/14/2022
/ 401k ,
403(b) Plans ,
Breach of Duty ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Failure To State A Claim ,
Fees ,
Fiduciary ,
Investment ,
Recordkeeping Requirements
A federal district court in Florida sent a proposed ERISA breach of fiduciary duty class action to individual arbitration on the basis of a plan arbitration clause that allowed for individual relief and plan-wide injunctive...more
2/3/2022
/ 403(b) Plans ,
Breach of Duty ,
Class Action ,
Class Action Arbitration Waivers ,
Defined Contribution Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Federal Arbitration Act ,
Fiduciary Duty ,
Injunctive Relief ,
Investment Management ,
Mandatory Arbitration Clauses ,
Retirement Plan