News & Analysis as of

Breach of Duty Benefit Plan Sponsors Employee Benefits

Haynes Boone

DOL Approves the Use of Forfeitures to Offset Employer Contributions

Haynes Boone on

In a lawsuit currently under appeal at the U.S. Court of Appeals for the Ninth Circuit, the court has been asked to decide whether the plan administrator violated its fiduciary duties of prudence and loyalty under ERISA when...more

Carlton Fields

Considerations for Plan Sponsors in the Wake of Cunningham v. Cornell

Carlton Fields on

Excessive fee cases against plans governed by the Employee Retirement Income Security Act (ERISA) have been on the rise for the last decade. ERISA litigation is expanding with novel theories such as forfeiture litigation....more

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

Seyfarth Shaw LLP

The DOL May Not Actually Want to Hear From You: New Guidance Streamlining the Voluntary Fiduciary Correction Program

Seyfarth Shaw LLP on

The DOL updated its voluntary fiduciary correction program (“VFCP”) which was introduced over 20 years ago to allow plan sponsors to corrected enumerated fiduciary breaches. The amended VFCP now allows for self-correction of...more

Miller Canfield

American Airlines Breaches Fiduciary Duty of Loyalty with BlackRock ESG Funds in 401(k) Plans

Miller Canfield on

Whether, and the extent to which, a plan fiduciary can consider nonpecuniary environmental, social and governance (“ESG”) objectives in selecting plan investments has been a hot-button issue for many years, with the view on...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - October 2024

The October Monthly Minute highlights two recent retirement plan cases, one in which the court sides with the plan and emphasizes plan administrative review over specific investment results and another where plaintiffs are...more

Proskauer - Employee Benefits & Executive...

District Court Dismisses Challenge to Use of Plan Forfeitures

A federal district court recently granted a motion to dismiss claims that defined contribution plan fiduciaries breached their fiduciary duties of loyalty and prudence, and violated ERISA’s anti-inurement and prohibited...more

Dickinson Wright

Why Establish a Fiduciary Committee for Welfare Benefit Plans?

Dickinson Wright on

Many plan sponsors have read about the lawsuit filed against Johnson & Johnson alleging that it breached its fiduciary duties with regard to the prescription drug component of its group health plan, causing participants to...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit: Changes to a Services Agreement Require Consideration of Indirect Compensation

A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing...more

Faegre Drinker Biddle & Reath LLP

Another 401(k) Plan Fiduciary Defeats Breach of Fiduciary Duty Claims at Trial

Following a bench trial in a Pennsylvania federal district court in Nunez v. B. Braun Medical, Inc., 401(k) plan fiduciaries defeated a lawsuit alleging that the fiduciaries imprudently managed and paid excessive...more

Proskauer Rose LLP

Individual Arbitration of ERISA Breach of Fiduciary Duty Claims – Is it Possible and, if So, Is It Worth It?

Proskauer Rose LLP on

As plan sponsors and fiduciaries cope with the increased volume of class action Employee Retirement Income Security Act (ERISA) lawsuits, some have considered the prospects of reducing their exposure through arbitration...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Microsoft wins Blackrock TDF lawsuit

A U.S. District Court judge threw out a case against Microsoft which claimed that the BlackRock LifePath Index Funds suite of target-date funds was an imprudent investment choice for their plan participants....more

Miller Canfield

Sixth Circuit Decision Highlights Fiduciary Duties in Handling Premiums and Disclosing Information

Miller Canfield on

Key Takeaways - ..Mishandling of premiums can lead to breach of fiduciary duty claims under ERISA against employers. ..Information beyond what is required to be disclosed by ERISA may need to be provided by plan...more

Goodwin

ERISA Litigation Update - April 2022

Goodwin on

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

Akin Gump Strauss Hauer & Feld LLP

Supreme Court Holds That Reasonably Prudent ERISA Fiduciaries Must Monitor Recordkeeping and Investment Manager Fees for All...

Key Points - 401(k) plan fiduciaries have the duty to monitor reasonableness of fees for all investment options available to participants under a 401(k) plan. Offering low-fee investment options does not alleviate the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

This case will be the mother of all battles

With so many fee litigation cases over the last few years, I was concerned that the Federal court was getting sick of cases where plaintiff’s attorney just merely pleaded that the costs of the plan were too much and. it was a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You can still lose by winning

The news comes trickling in for 401(k) plan providers and plan sponsors beating back class action lawsuits....more

Goodwin

ERISA Litigation Update - December 2021

Goodwin on

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

Bass, Berry & Sims PLC

Supreme Court Hears Oral Argument: Are Allegations of Excessive Retirement Plan Fees Sufficient to State a Claim under ERISA?

Bass, Berry & Sims PLC on

On December 6, the U.S. Supreme Court heard oral argument in the case of Hughes v. Northwestern University. The question at issue is whether allegations that a defined-contribution retirement plan paid fees that substantially...more

Faegre Drinker Biddle & Reath LLP

Lessons Learned from Recent Fiduciary Victories

There is nothing a plan sponsor or ERISA fiduciary can do to prevent allegations of fiduciary breach; however, there are many things they can do to be prepared to rebut such claims. Unfortunately, because of “headline news,”...more

Goodwin

ERISA Litigation Update - October 2021

Goodwin on

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

Goodwin

ERISA Litigation Update - July 2021

Goodwin on

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Abbott wins in theft suit, for now

Abbott Laboratories beat back a 2020 lawsuit from a 401(k) participant whose account was fraudulently raided of $245,000. The plaintiff, Heide Bartnett, also sued Alight Solutions, the plan’s recordkeeper, and that case...more

Jackson Lewis P.C.

California District Court Again Dismisses ERISA Lawsuit Challenging 401(k) Plan’s Fees

Jackson Lewis P.C. on

The Northern District of California dismissed with prejudice a lawsuit alleging a 401(k) plan’s sponsor and fiduciaries included unreasonably expensive funds in the plan’s investment lineup. The court previously dismissed...more

Goodwin

ERISA Litigation Update - April 2021

Goodwin on

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

47 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide