A recent wave of cases has attempted to apply the theory of liability for retirement plan excessive fee cases to health plans – specifically, arrangements with pharmacy benefit managers.
Though the cases thus far have...more
4/11/2025
/ Benefit Plan Sponsors ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Excessive Fees ,
Fiduciary Duty ,
Health Insurance ,
Health Plan Sponsors ,
Pharmacy Benefit Manager (PBM) ,
Prescription Drugs ,
Retirement Plan ,
Standing
The U.S. Court of Appeals for the Tenth Circuit issued its decision in Matney v. Barrick Gold of North America, et al. on Sept. 6, 2023, finding that participants in an employer-sponsored defined contribution retirement plan...more
9/27/2023
/ Appeals ,
Appellate Courts ,
Benchmark Pricing ,
Benefit Plan Sponsors ,
Breach of Duty ,
Class Action ,
Defined Contribution Plans ,
Dismissals ,
Employee Retirement Income Security Act (ERISA) ,
Employment Litigation ,
Excessive Fees ,
Fiduciary ,
Investment Management ,
Investment Trust Companies ,
Pleading Standards ,
Recordkeeping Requirements ,
Retirement Plan
Following the U.S. Supreme Court's decision in Hughes v. Northwestern University, courts around the country continue to articulate the pleading requirements for a breach of duty of prudence claim under the Employee Retirement...more
9/23/2022
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Colleges ,
Defined Benefit Plans ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Hughes v. Northwestern University ,
Management Fees ,
Plan Participants ,
Putative Class Actions ,
Retirement Plan ,
Retirement Plan Providers ,
Transaction Fees ,
Universities
The U.S. District Court for the Northern District of Illinois has dismissed a putative class action lawsuit brought under the Employee Retirement Income Security Act of 1974 (ERISA) by a participant of 401(k) plan against the...more