News & Analysis as of

Class Action Employee Retirement Income Security Act (ERISA) Pensions

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
The Wagner Law Group

District Court Grants Motion to Dismiss Forfeiture Complaint

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Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by using forfeitures to reduce employer...more

Jackson Lewis P.C.

Conflicting Decisions Foreshadow Upcoming Disputes in ERISA 401(K) Forfeiture Class Actions

Jackson Lewis P.C. on

Conflicting orders on motions to dismiss from two California courts foreshadow issues for a new theory of ERISA liability. Employers have faced a recent wave of novel ERISA class actions that challenge the reallocation of...more

Jackson Lewis P.C.

Use of Plan Forfeitures Not the Slam Dunk It Used to Be

Jackson Lewis P.C. on

A recent rash of class action lawsuits in California claim that using forfeitures to reduce future employer contributions to tax-qualified retirement plans runs afoul of the Employee Retirement Income Security Act (ERISA)....more

The Wagner Law Group

District Court Denies Motion to Dismiss Forfeiture Complaint

The Wagner Law Group on

In December, we suggested, contrary to popular opinion, that serious attention should be given to the filing of several class action lawsuits alleging that plan fiduciaries violated ERISA by applying forfeitures to reduce...more

Troutman Pepper

EDVA Judge Allows Pension Investment Expert to Testify in Class Action ERISA Case

Troutman Pepper on

A recent decision by Senior District Judge Robert Payne on a Daubert motion in class action litigation against a pension fund offers some helpful lessons on challenging expert witnesses in the EDVA. Trauernicht v. Genworth...more

The Wagner Law Group

Pension Risk Transfers and the Continuing Concern About Buying a Pig in a Poke

The Wagner Law Group on

Pension risk transfers (“PRTs”) continue to make the news. And well they should. Last year alone, over $100 billion in liabilities were transferred from defined benefit pension plans to insurance companies. And the trend...more

Bricker Graydon LLP

Pension Risk Transfer Considerations and Recent Litigation - A Case of Imprudent “Passing the Buck” or Sound Risk Management?

Bricker Graydon LLP on

Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group...more

Jackson Lewis P.C.

What Manufacturers Sponsoring Pension Plans Should Know About Class Actions Challenging Plan Assumptions

Jackson Lewis P.C. on

An enduring wave of novel class actions challenging the actuarial assumptions used to calculate certain pension benefits has prompted many sponsors of defined benefit pension plans to evaluate their plan’s terms for...more

Hall Benefits Law

Sprint, Former Employees Urge Kansas Federal Court to Approve $3.5M Deal to Resolve Benefit Calculation Suit

Hall Benefits Law on

Three former Sprint Communications employees asked a Kansas federal court to approve its multimillion-dollar proposed class action against Sprint, which the parties reached through mediation. According to the former...more

Epstein Becker & Green

#WorkforceWednesday: SCOTUS in Review, Biden Acts to Limit Non-Competes, NY HERO Act Model Safety Plans - Employment Law This...

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Welcome to #WorkforceWednesday. This week, we recap the U.S. Supreme Court’s term and its impact on employers. U.S. Supreme Court Employment Law Decisions in Review (see video attached) The Supreme Court’s term ended on...more

Littler

Supreme Court Declines to Hear Appeal in ERISA Class Action Permitting Recalculation of Benefits as Available Relief

Littler on

The U.S. Supreme Court declined to review the Second Circuit’s decision in Laurent v. PricewaterhouseCoopers LLP, which held that retirees could receive money damages in the form of recalculated benefits in a class action...more

Pillsbury Winthrop Shaw Pittman LLP

Supreme Court Limits Participant Rights to Bring Actions for Investment Losses in Pension Plans

Good news for defined-benefit pension plan sponsors. Decision should discourage class action litigation involving defined-benefit plan investments....more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2019

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In this edition of our Newsletter, we take a look at a pair of cases that, while unrelated, together remind us of the importance of having clear plan rules in place that reflect the plan sponsor’s intention. The first article...more

Nelson Mullins Riley & Scarborough LLP

Class Action Exposure – Rates and Mortality Tables in Your Pension Plan

The phrase “actuarial equivalence” does not roll off anyone’s lips.  But, it may be the key phrase in the next wave of class action potential liability for defined benefit plans.  ...more

Laner Muchin, Ltd.

Pension Plan Sponsors Should Be Mindful Of A New Wave Of Class Action Lawsuits

Laner Muchin, Ltd. on

In December 2018, class action lawsuits under the Employee Retirement Income Security Act (ERISA) were filed against several large single-employer defined benefit plans.  The suits focus on the calculation of joint and...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2017

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Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Carlton Fields

Fifth Circuit Vacates Settlement Approval in ERISA Class Action, Remanding With Instructions to Reexamine the Legitimacy of...

Carlton Fields on

The Fifth Circuit recently vacated a class action settlement that included unsecured and uncollateralized future payments to the plaintiffs, while providing a swift and complete payout of fees to class counsel. The case...more

Seyfarth Shaw LLP

Administrative Exhaustion As a Defense to Statutory ERISA Claims?  Not So Much

Seyfarth Shaw LLP on

Seyfarth Synopsis: The Sixth Circuit becomes the seventh circuit court to not require administrative exhaustion for statutory ERISA claims (as opposed to denial of benefit claims), while two circuit courts still do. In...more

Epstein Becker & Green

Benefits Litigation Update – Fall 2016

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A Publication from Epstein Becker Green and The ERISA Industry Committee - Epstein Becker Green and The ERISA Industry Committee (“ERIC”) are pleased to release the current issue of the Benefits Litigation Update...more

Morgan Lewis

Why Should Hospitals with “Church Plans” Be Concerned Now? - Hospital Industry Viewpoint

Morgan Lewis on

Religiously affiliated hospitals and health systems have recently come under attack by private litigants for exercising the right to remain exempt from ERISA requirements. Such hospitals and health systems should assess their...more

McDermott Will & Emery

Multiple Class Action Complaints Challenge Church Plan Status of Hospital Pension Plans

Recent complaints challenging the “church plan” status of certain pension plans maintained by church-sponsored hospital systems may signal the beginning of a new wave of lawsuits challenging underfunded church pension plans. ...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - May 2013

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This month our articles focus on the availability of damages in complex ERISA class actions and withdrawal liability actions. Jackie Len first provides Proskauer's perspective on the implications for ERISA litigation arising...more

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