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Department of Labor (DOL) Settlement Employee Benefits

Ropes & Gray LLP

Plan Sponsors Beware: The U.S. Supreme Court Just Eased Requirements to File ERISA Prohibited Transaction Suits

Ropes & Gray LLP on

Many sponsors and fiduciaries of ERISA retirement plans had been hoping that the U.S. Supreme Court’s opinion in Cunningham v. Cornell University (No. 23-1007) would articulate new pleading standards that would slow the...more

Polsinelli

New DOL Settlement Takes Aim at Indemnification for ESOP Fiduciaries

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On January 12, 2021, the United States Department of Labor (“DOL”) entered into a consent order with another fiduciary of an employee stock ownership plan (“ESOP”).  The consent order in Scalia v. Professional Fiduciary...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

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