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Benefit Plan Sponsors › Investment Funds

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Overpaying for Underperformance: A Fiduciary Breakdown in Plain Sight

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

A massive new study by Abernathy-Daley covering nearly 58,000 corporate 401(k) plans delivered a simple—but startling—message: virtually every plan suffers from overpriced, underperforming funds. In fact, 99% of plans have at...more

Mayer Brown

Decision Alert: Northern District of Texas Expands Fiduciary Liability To Cover Non-ESG Fund Managers’ ESG-Related Conduct

Mayer Brown on

Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 - Introduction - On February 21, 2024, Judge Reed O’Connor in the Northern District of Texas (the “Court”) denied a motion to dismiss an...more

Dorsey & Whitney LLP

DOL Warns 401(k) Plan Fiduciaries about Cryptocurrency Investments

Dorsey & Whitney LLP on

Investments in Cryptocurrencies such as Bitcoin and Ethereum are becoming more and more mainstream. Driven by outrageous returns, and presenting outrageous volatility and risk, both traditional institutional and individual...more

Perkins Coie

Employee Benefit Plan Developments—2020 Year in Review

Perkins Coie on

Employee benefits professionals have faced many challenges in 2020. We have seen remarkable changes to state and local requirements, an onslaught of new benefits legislation and governmental policies, shifting reporting and...more

McDermott Will & Emery

Big ERISA Decisions on the Horizon—SCOTUS to Review Third ERISA Case this Term

McDermott Will & Emery on

The US Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Edward Jones Forks over $3 million in 401(k) lawsuit

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Edward Jones is going to pay $3.2 million to settle a lawsuit alleging they were using investments in the 401(k) plan to enrich themselves....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary That Buys The Groceries

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When the great Bill Parcells was the head coach of the New England Patriots, he got into a tiff with owner Robert Kraft because Parcells wanted more of a say in the personnel decision-making process. Parcells famously said:...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Nordstrom is the latest large employer sued over their 401(k) plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

The department store business model is selling items at high prices with the heavy end of season discounting. Now if only Nordstrom did the same with their nearly $3 billion 401(k) plan....more

Akin Gump Strauss Hauer & Feld LLP

FAQs for Fund Managers Related to DOL’S Fiduciary Rule which Became Partially Effective June 9, 2017

Akin Gump Strauss Hauer & Feld LLP on

As stated in our May 25, 2017 Executive Compensation, Employee Benefits and ERISA Alert, the Department of Labor’s (DOL’s) new fiduciary rule (“Fiduciary Rule”) became partially applicable on June 9, 2017. Set forth below are...more

Proskauer - Employee Benefits & Executive...

District Court Dismisses Allegations That Stable Value Fund is Too Conservative

Proskauer - Employee Benefits & Executive... on

A district court in Rhode Island dismissed claims by participants in the CVS Employee Stock Ownership Plan that plan fiduciaries imprudently invested plan assets in the plan’s stable value fund...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2017

Proskauer Rose LLP on

Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Carlton Fields

What Does the Supreme Court’s Tibble Ruling Mean for Practitioners and ERISA Fiduciaries?

Carlton Fields on

The Supreme Court’s recent decision in Tibble v. Edison Int’l, et al., --- S.Ct. ---, Case No. 13-550, 2015 WL 2340845 (May 18, 2015), is perhaps more interesting for what the Court did not decide than for what it did....more

Stinson - Benefits Notes Blog

Ameriprise Avoids Trial On Class Action Suit By Current and Former Employees With $27.5 Million Payment

Stinson - Benefits Notes Blog on

In 2011, a group of current and former employees filed a class action lawsuit in the District Court of Minnesota claiming that Ameriprise Financial, Inc. and members of its 401(k) Plan fiduciary committee had breached their...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Why bad funds remain in 401(k) plans

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

A few years ago, researchers from the business schools at the University of Indiana and the University of Texas at Austin looked at some data to try to figure out why many poor 401(k) investment choices linger on fund...more

Poyner Spruill LLP

Paying Fees from the Plan is Not a "No-Brainer"!

Poyner Spruill LLP on

Although using the revenue generated by the Plan’s investment funds to pay investment, advisory or recordkeeping fees may seem at first a “no-brainer”, this decision requires financial analysis, assessment of fiduciary...more

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