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A Step Towards Guidance Instead of Regulation by Litigation in the ESOP Space

Employee Stock Ownership Plans (ESOPs), their sponsors and participants, and other industry players will welcome the news announced by the ESOP Association on April 14, 2023, that the Department of Labor (DOL) has committed...more

Cryptocurrencies As Investment Options In 401(k) Plans

On March 10, 2022, the U.S. Department of Labor (“DOL”) issued a Compliance Assistance Release (the “Release”) addressing its views on the availability of cryptocurrencies on 401(k) investment platforms. This guidance comes...more

ERISA Litigation Update - April 2022

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

ERISA Litigation Update - December 2021

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

ERISA Litigation Update - April 2021

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

DOL Fiduciary Rule: 60-day Delay to the Applicability Date Finalized

The delay came in response to the Presidential Memorandum issued on February 3, 2017, regarding the Fiduciary Rule. The Presidential Memorandum directed the DOL to conduct an updated impact assessment on whether the Rule “may...more

DOL Fiduciary Rule: Proposed Delay to the Applicability Date

The DOL’s proposal comes in response to the Presidential Memorandum issued on February 3, 2017, regarding the Fiduciary Rule. The Presidential Memorandum directed the DOL to conduct an updated impact assessment on whether the...more

DOL Issues Final Fiduciary Rule

The final rule, while expanding the types of retirement investment advice covered by fiduciary protections, especially for IRAs, also provides carveouts for retirement education, order-taking by brokers and sales pitches to...more

Federal District Court Addresses Measure of Damages in ERISA Breach of Fiduciary Duty Case

Fiduciaries of two defined contribution retirement plans sponsored by the same employer (the “Plans”) sued the Plans’ former investment manager for breach of ERISA fiduciary duties and state law violations in connection with...more

Third Circuit Affirms Dismissal of Excessive Fee Claims Against Insurer

The Third Circuit has affirmed dismissal of all claims against the insurer in a 401(k) excessive fee suit, rejecting arguments that the insurer is an ERISA fiduciary for its product's fees, even where the service provider has...more

District Court Relies on Fee Disclosure Regulation to Dismiss Complaint

A federal district court in New York last month dismissed a class action complaint brought by a company sponsoring a 401(k) plan. The plaintiff, in Skin Pathology Associates v. Morgan Stanley, alleged, among other claims,...more

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