News & Analysis as of

Retirement Plan › Prohibited Transactions › Breach of Duty

Jones Day

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

Jones Day on

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

Jackson Lewis P.C.

Eighth Circuit Holds Principal Did Not Breach Its Fiduciary Duty to 401(k) Plan Participants Despite Conflict of Interest

Jackson Lewis P.C. on

The U.S. Court of Appeals for the Eighth Circuit recently affirmed a District Court’s finding that Principal Life Insurance Company (“Principal”) did not breach its fiduciary duties regarding its stable value contract for...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Enforces Forum Selection Clause in 401(k) Plan

Proskauer - Employee Benefits & Executive... on

On April 1, 2021, the Ninth Circuit became the third circuit court to conclude that a forum-selection clause in an ERISA 401(k) plan is enforceable. The Ninth Circuit thus denied a petition for mandamus seeking to overturn a...more

Proskauer - Employee Benefits & Executive...

American Airlines 401(k) Plan Not Required To Offer Stable Value Fund

Proskauer - Employee Benefits & Executive... on

Among the many claims brought by plaintiffs challenging investment offerings in defined contribution plans is the claim that plans should offer stable value funds in lieu of more conservative capital preservation funds, such...more

ArentFox Schiff

Buyer Beware: Health Plans Need to Exercise Caution in Retaining Third-Party Administrators and Medical Claim Reviewers

ArentFox Schiff on

A federal court in Nebraska recently rejected a health plan’s fiduciary breach claims under the Employee Retirement Income Security Act of 1974 (ERISA) against third-party service providers, holding that the service providers...more

Proskauer - Employee Benefits & Executive...

401(k) Plan Participant Cannot Pursue Claims On Behalf Of Plans In Which She Did Not Participate

Proskauer - Employee Benefits & Executive... on

A federal district court in Ohio concluded that a 401(k) plan participant could assert fiduciary breach and prohibited transaction claims only on behalf of the plan in which she participated, and not on behalf of other plans....more

Littler

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Seyfarth Shaw LLP

ERISA University Excessive Fee Cases Take Another Hit

Seyfarth Shaw LLP on

Seyfarth Synopsis: Excessive fee complaint dismissed because the diverse selection of funds available to plan participants negates any claim that Defendants breached their duties of prudence simply because cheaper funds were...more

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