Update and Discussion on Legal and Practical Issues
A Supreme Court decision in April made it easier for plaintiffs to keep ERISA prohibited transaction claims in play longer, and just days later a rare ERISA trial resulted in a huge win for a class of 401(k) plan...more
Two recent class action lawsuits charging a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) have increased the stakes and raised important considerations regarding a plan fiduciary’s duty of...more
Among the many claims brought by plaintiffs challenging investment offerings in defined contribution plans is the claim that plans should offer stable value funds in lieu of more conservative capital preservation funds, such...more
On June 29, 2020, the U.S. Department of Labor (the Department) formally reinstated its “five-part test” for determining what constitutes “investment advice” under ERISA and Section 4975 of the Internal Revenue Code (the...more