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401k › Fiduciary › Investment Management

Mayer Brown

Northern District of Texas Expands Fiduciary Exposure by Permitting ESG Proxy Voting Theory to Go to Trial

Mayer Brown on

Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 - INTRODUCTION - On June 20, 2024, Judge Reed O’Connor in the Northern District of Texas (the “court”) denied a motion for summary...more

Pillsbury Winthrop Shaw Pittman LLP

DOL Expands Investment Advice Subject to Fiduciary Liability

Pillsbury Winthrop Shaw Pittman LLP on

Following previous failed attempts to expand the fiduciary liability of financial services providers, the DOL released a new rule that broadens the definition of “fiduciary” under ERISA. The new rule is expected to face...more

Mayer Brown

United States: The Long Read - Lifetime Income Products in CITs on the Rise

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As recently noted by the US Department of Labor (“DOL”), since the passage of the Employee Retirement Income Security Act of 1974 (“ERISA”), “the retirement plan landscape has changed significantly, with a shift from defined...more

Proskauer - Employee Benefits & Executive...

TRICK-or-TREAT? DOL Proposes Spooky New “Retirement Security Rule” That Would Expand the Scope of Fiduciary “Investment Advice”

Proskauer - Employee Benefits & Executive... on

Responding to the “terrifying” reality that conflicted investment advice is costing retirement savers billions of dollars each year, on October 31, 2023, the Department of Labor (“DOL”) issued proposed rules representing its...more

Proskauer - Employee Benefits & Executive...

District Court Dismisses Investment and Recordkeeping Claims Against 401(k) Plan Fiduciaries

Proskauer - Employee Benefits & Executive... on

A Kentucky federal district court ruled that a participant in CommonSpirit Health’s 401(k) plan failed to state plausible claims for breach of fiduciary duty related to the fees and performance of actively managed target date...more

Dechert LLP

An ESGplanation of ERISA's New Regulation on Social Investing

Dechert LLP on

The U.S. Department of Labor (the “DOL”) on October 30, 2020 released a final regulation (the “Final Regulation”) relating to the consideration of non-pecuniary factors by fiduciaries of employee benefit plans (“Plans”) that...more

Dorsey & Whitney LLP

ERISA Plan Investment Management in a Time of Market Disruption

Dorsey & Whitney LLP on

COVID-19 has shocked the markets, resulting in massive losses for 401(k) plans, defined benefit plans, and other ERISA-governed pension plans.  Turbulent economic times will almost certainly continue. ERISA fiduciaries find...more

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