News & Analysis as of

Department of Labor (DOL) Breach of Duty 401k

Foley & Lardner LLP

Five Things on the Department of Labor’s Radar for Employee Benefit Plans

Foley & Lardner LLP on

All qualified retirement plans are subject to a myriad of requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The United States Department of Labor (DOL) is charged with enforcing the...more

Jones Day

Another 401(k) Plan Sponsor Faces Novel Suit Regarding its Use of Forfeiture Funds

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The Employee Retirement Income Security Act ("ERISA") plaintiffs' bar has found a new way to allege that 401(k) plan sponsors have breached their fiduciary duty....more

ArentFox Schiff

Airline 401k Decision Illustrates Continued Takeoff of ESG Litigation

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A Texas federal judge recently permitted an environmental, social, and governance- (ESG) related Employee Retirement Income Security Act (ERISA) case filed by an airline pilot against his employer and its benefits plan to...more

Holland & Hart - The Benefits Dial

Can’t Touch This … DOL Discourages Plans From Investing in Cryptocurrency

Among the many phrases of ERISA, one that is familiar to investment fiduciaries is the requirement to choose investments with the care, skill, prudence, and diligence that a prudent person who is familiar with such matters...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Abbott wins in theft suit, for now

Abbott Laboratories beat back a 2020 lawsuit from a 401(k) participant whose account was fraudulently raided of $245,000. The plaintiff, Heide Bartnett, also sued Alight Solutions, the plan’s recordkeeper, and that case...more

Goodwin

ERISA Litigation Update - April 2021

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Preventative Medicine For Your 401(K) And 403(B) Plan

Multiple new lawsuits have been filed since the start of 2020.  Complications caused by the Coronavirus have not slowed the onslaught of 401(k) fee litigation across the country. Last month, Teva Pharmaceuticals USA Inc. was...more

Fox Rothschild LLP

The DOL: The New Securities Regulator?

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The United States Department of Labor (“DOL”) has had a very active summer regulating the securities industry. Yes, you heard it right, the DOL has made certain pronouncements that have considerable effect on the securities...more

Proskauer Rose LLP

ERISA Newsletter - Fourth Quarter 2019

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Editor's Overview - Happy New Year. We wrap-up 2019 with an article that reflects on significant developments in ERISA litigation during 2019, and takes a look at what's on the horizon for 2020. The courts (at all levels)...more

McDermott Will & Emery

ERISA Health Plan Fiduciaries Defeat DOL’s Excessive Fee Claims

McDermott Will & Emery on

In one of the first ERISA cases to address claims against fiduciaries for excessive health plan fees, the court entered judgment in favor of the defendants on all counts. The decision addresses health plan fiduciary standards...more

McDermott Will & Emery

ERISA Plan Controversy: Rising Stakes for Those Unprepared

McDermott Will & Emery on

WHAT’S THE EXPOSURE? • Settlements up to $140 million • Last year alone, settlements of $17 million, $22 million, $24 million, and among others • Plaintiffs’ lawyers generally get 1/3 of the settlement amounts • Plaintiffs’...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Theater of the Absurd

Chutzpah is nerve, shameless audacity. The best example of chutzpah is someone who kills their parents and asks the court for leniency because they’re an orphan. I’ve been in this business of ours for the past 20 plus...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Settlements should encourage vigilance

While 2018 may have had less 401(k) litigation than the previous year, there was more than $90 million in settlements....more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2018

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As we head into the thick of summer, all eyes are on President Trump's nomination to the U.S. Supreme Court to replace retiring Justice Anthony Kennedy and the impact the new Justice will have on shaping the law for...more

Proskauer Rose LLP

ERISA Newsletter - First Quarter 2018

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Despite the change in seasons, there appears to be no change in the pace of complex and class action ERISA litigation. Investments in defined contribution plans—both 401(k) and 403(b) plans—continue to be the leading target...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2017

Proskauer Rose LLP on

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

Proskauer Rose LLP

ERISA Newsletter - First Quarter 2017

Proskauer Rose LLP on

After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - February 2017

Concepts That Retirement Plan Advisors Shouldn't Focus On. It would be a detriment to focus only on this stuff. Being a financial advisor isn't as easy as many people on the outside think. There are so many things you ...more

Seyfarth Shaw LLP

The U.S. Supreme Court And Workplace Class Actions

Seyfarth Shaw LLP on

Seyfarth Synopsis: As profiled in our recent publication of the 13th Annual Workplace Class Action Litigation Report, the U.S. Supreme Court’s rulings have a profound impact on employers and the tools they may utilize to...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - September 2016

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Editor's Overview - This month, we have re-published an interview of our colleague Seth Safra discussing the Department of Labor’s final regulation concerning fiduciaries and conflicts of interest. In this interview,...more

WilmerHale

Life and Annuity Series: ERISA—Shape of Things to Come

WilmerHale on

The class action complaint titled Bell v. Anthem, Inc., et al. (S.D. Indiana) raises a number of novel ERISA allegations that could be a preview of the future, especially if the DOL fiduciary rule is adopted this year. ...more

McDermott Will & Emery

Focus on Private Equity - July 2015

McDermott Will & Emery on

What Private Equity Funds Should Know About ERISA: Basics of ERISA Coverage - The Employee Retirement Income Security Act of 1974, as amended (ERISA) imposes numerous duties on fiduciaries holding employee benefit...more

Polsinelli

Supreme Court Reminds Companies to Monitor 401(k) Plan Investments, Sets Parameters for "Regular Review" Requirements

Polsinelli on

Companies and in-house fiduciaries face increasing scrutiny these days over their 401(k) and other retirement plans. This was underscored again recently by a key Supreme Court ruling. In Tibble v. Edison International, the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Two law school professors and their 401(k) study

There is a tendency to shoot the messenger because folks don’t like the message. I ought to know. Whether it was in college, law school, or working at a third party administrator, I was the messenger of some terrible news....more

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