News & Analysis as of

Benefit Plan Sponsors Fiduciary Duty Corporate Counsel

Pullman & Comley - Labor, Employment and...

Retirement Plan Update – Forfeitures are New Focus of Fiduciary Breach Litigation

Many employer-sponsored defined contributions plans, including 401(k) profit sharing plans and money purchase pension plans include a vesting schedule – a period over which a plan participant earns a nonforfeitable right to...more

Williams Mullen

Annual Employee Benefits Compliance Checklists - Corporate Counsel

Williams Mullen on

The following checklist highlights key issues for corporate counsel with respect to employee benefit plans and executive compensation arrangements....more

Latham & Watkins LLP

DOL Final Rule on ESG Factors to Take Effect February 1, 2023

Latham & Watkins LLP on

The Final Rule clarifies the application of ERISA’s fiduciary duties of prudence and loyalty to the selection of plan investments that incorporate ESG goals. On November 22, 2022, the US Department of Labor (DOL) released a...more

Fisher Phillips

The Top 14 Workplace Law Stories from January 2022

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years—and this past month...more

Wiley Rein LLP

Fifth Circuit: No Fiduciary Liability Coverage for Claim Against Third-Party ESOP Trustee

Wiley Rein LLP on

The United States Court of Appeals for the Fifth Circuit recently upheld an insurer’s denial of fiduciary liability coverage for claims brought against a third party appointed by the insured to manage its employee stock...more

Dorsey & Whitney LLP

Is Data the Next Frontier in ERISA Litigation?

Dorsey & Whitney LLP on

Health and retirement benefit plans subject to the Employee Retirement Income Security Act (“ERISA”) have troves of personal information regarding plan participants and their beneficiaries - e.g., participants’ age, marital...more

Groom Law Group, Chartered

DOL Presses Forward With Lifetime Income Disclosure in Defined Contribution Plans

On August 18, 2020, the Department of Labor (the “DOL”) issued an interim final rule (the “IFR”) implementing Section 203 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), which...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Experience can mean a lot of things

I always talk about how plan sponsors need to work with experienced financial advisors, third party administration (TPA) firms, and ERISA attorneys on their plan needs. Like with reasonable fees, I believe that the term...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You Can Learn Something New Every Day

As an ERISA attorney, I always have an open phone policy with plan sponsors, financial advisors, accountants, TPAs, and other attorneys from around the country on questions they may have about their plan or a client’s...more

Pillsbury Winthrop Shaw Pittman LLP

A Ninth Circuit Ruling Repaves the Intersection of ERISA and Arbitration Law

Dorman v. The Charles Schwab Corp. narrows the options of employees asserting breach of fiduciary duty in retirement plans. Breach of fiduciary duty claims that “arise out of” and “relate to” a 401(k) plan—including those...more

American Conference Institute (ACI)

[Event] ERISA Litigation – Valuable insights on how to prevent, manage and defend against rising, costly ERISA disputes - November...

Ensure that You are Equipped with the Latest Updates and Strategies to Prevent, Manage and Defend Against Rising, Costly ERISA Disputes - This annual event is your best opportunity to gain best practices for your everyday...more

McDermott Will & Emery

Ninth Circuit Answers Some Questions About Arbitration of ERISA Claims

McDermott Will & Emery on

In two opinions—one published and one unpublished—the Ninth Circuit overturned prior precedent and held that a Plan amendment requiring arbitration meant that an individual had to arbitrate, on an individual basis, purported...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

BCLP

Exceptional Plan Governance: Beat Back the Coming Litigation Onslaught

BCLP on

It was bound to happen. For several years, the plaintiffs’ bar has sued fiduciaries of large 401(k) plans asserting breach of their duties under ERISA by failing to exercise requisite prudence in permitting excessive...more

McCarter & English, LLP

Pension Plan Sponsors Beware: The Department of Labor Is Investigating Plans That Fail to Locate and Pay Benefits to Terminated...

A Department of Labor (“DOL”) official recently disclosed a new DOL investigation initiative focusing on the adequacy of defined benefit plan procedures to locate and pay out benefits to terminated vested participants. The...more

BakerHostetler

Unanimous Supreme Court Vacates Tibble v. Edison International: Much Ado About Nothing? Or Something More?

BakerHostetler on

On May 18, 2015, the United State Supreme Court, by a 9-0 vote, vacated and remanded the Ninth Circuit’s holding in Tibble, et al. v. Edison International, et al., 729 F.3d 1110 (9th Cir. 2013). Tibble is an “excessive fee”...more

Fisher Phillips

ERISA Fiduciaries Must Continuously Monitor 401(k) Investment Choices

Fisher Phillips on

The U.S. Supreme Court has held unanimously that a plan fiduciary has a continuing duty to monitor investments offered under a 401(k) plan, a duty that is separate and apart from the duty to exercise prudence in selecting...more

Epstein Becker & Green

Considerations for Employee Benefit Programs That Benefit Employers and Employees

Epstein Becker & Green on

Employers must compete in the marketplace for talented employees at every level—both in recruitment and retention. It is thus in employers’ best interests to provide employee benefit plans that are attractive to employees and...more

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