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Employee Retirement Income Security Act (ERISA) › Duty of Prudence › Corporate Counsel

Fisher Phillips

Federal Appeals Court Decision Reminds Employers About Their Duty to Monitor Service Providers of ERISA-Covered Health and Welfare...

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A federal appeals court just illustrated the importance of an employer’s duty to monitor service providers that assist with the administration of employee welfare benefit plans. In the May 21 decision of Tiara Yachts v. Blue...more

Proskauer - Employee Benefits & Executive...

Eighth Circuit Joins Growing Number of Courts Rejecting Common ERISA Fee and Investment Claims

Proskauer - Employee Benefits & Executive... on

In Matousek v. MidAmerican Energy Co., 2022 WL 6880771, __ F.4th __ (8th Cir. 2022), the Eighth Circuit joined the Sixth and Seventh Circuits in affirming dismissal of ERISA breach of fiduciary duty claims alleging that the...more

McGuireWoods LLP

U.S. Supreme Court Reinforces ERISA Fiduciary Duty to Monitor Investment Options

McGuireWoods LLP on

On Jan. 24, 2022, the U.S. Supreme Court vacated the U.S. Court of Appeals for the Seventh Circuit’s ruling in Hughes v. Northwestern University, and remanded the case for further consideration, bringing new life to current...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Enforces Forum Selection Clause in 401(k) Plan

Proskauer - Employee Benefits & Executive... on

On April 1, 2021, the Ninth Circuit became the third circuit court to conclude that a forum-selection clause in an ERISA 401(k) plan is enforceable. The Ninth Circuit thus denied a petition for mandamus seeking to overturn a...more

Cozen O'Connor

ERISA Fiduciaries Get Protection as a result of High Court Ruling

Cozen O'Connor on

This week’s ruling of the U.S. Supreme Court is potentially positive news and has promising favorable future implications for fiduciaries of ERISA-regulated employee pension plans who might be faced with allegations of...more

Littler

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Cozen O'Connor

Will Plan Participants’ Demands for Perfection Retire Large 401(k) Plans?

Cozen O'Connor on

Participants in Anthem Inc.’s $5.1 billion 401(k) plan have sued plan fiduciaries, alleging that they have top-shelf tastes that constitute a breach of the duties of loyalty and prudence owed to participants, and that the...more

Cozen O'Connor

Supreme Court Rejects Presumption of Prudence for ESOP Fiduciaries

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On June 25, 2014, the Supreme Court of the United States, in Fifth Third Bancorp v. Dudenhoffer, declared that no “presumption of prudence” applied to fiduciaries of “employee stock ownership plans” (ESOPs). ...more

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