News & Analysis as of

Fiduciary Duty Employee Benefits 403(b) Plans

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fee Savings from CITs in 403(b)s Could Cover 6 Months of Retirement—If Fiduciaries Pay Attention

Vanguard’s latest report makes a blunt point: allowing collective investment trusts (CITs) in 403(b) plans could save the median plan participant about 0.08% to 0.09% annually compared to mutual fund fees—translating into...more

Hall Benefits Law

SCOTUS Revives Cornell 403b Lawsuit: What Fiduciaries Must Know

Hall Benefits Law on

Fiduciaries must treat plan management as an active compliance obligation to avoid legal exposure, says a Hall Benefits Law practitioner. On April 17, 2025, the US Supreme Court issued a unanimous per curiam opinion in...more

Venable LLP

Supreme Court Endorses Plaintiff-Friendly Prohibited Transaction Pleading Standard

Venable LLP on

On April 17, 2025, the Supreme Court resolved a circuit split on the appropriate pleading standard for a specific type of prohibited transaction claim under ERISA. While that decision may sound dry and technical, the...more

Carlton Fields

The Case of Excessive Fees: Supreme Court to Investigate Pleading Standard in ERISA Excessive Fee Litigation

Carlton Fields on

ERISA class action litigation against retirement plan fiduciaries remains a prominent feature of the legal landscape this year. These lawsuits typically involve allegations that plan fiduciaries acted imprudently in...more

DLA Piper

Qualified Retirement Plans Agenda

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Our qualified retirement plans agenda outlines current legislative, litigation, and other developments concerning tax-qualified retirement plans. Sponsors are encouraged to be aware of these issues and assess whether any...more

Groom Law Group, Chartered

Is Your DC Plan Retirement Ready?

Participating in DC plans such as 401(k), 457, and 403(b) plans is the primary way most people save for retirement, and there is considerable sponsor and participant interest in making DC plans more effective at their primary...more

Kilpatrick

DOL's Interpretation of Fiduciary Rollover Advice Narrowed by District Court

Kilpatrick on

This week, a federal district court in the Middle District of Florida invalidated the Department of Labor’s ("DOL") policy as to when advice provided by a financial institution or financial professional on a rollover from an...more

Kilpatrick

Federal District Court Narrows Interpretation of Fiduciary Rollover Advice

Kilpatrick on

On February 13, 2023, a federal district court in the Middle District of Florida invalidated the Department of Labor’s (“DOL”) policy as to when advice provided by a financial institution or financial professional (“adviser”)...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Court Decisions Impacting Plan Sponsors and Fiduciaries

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by the chair of Williams Mullen’s Employee Benefits & Executive Compensation Practice, Marc Purintun, who discusses a recent Supreme Court...more

Proskauer - Employee Benefits & Executive...

Defendants Secure Motion to Dismiss Victories in Three Post-Hughes Decisions

In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. While it may be too...more

Proskauer Rose LLP

2 ERISA Rulings Highlight Need for Different Defense Tactics

Proskauer Rose LLP on

Albert Einstein is famously credited with saying, "Insanity is doing the same thing over and over and expecting different results." This adage comes to mind as defense counsel continue to resort to the same strategies for...more

Proskauer - Employee Benefits & Executive...

District Court Enforces 403(b) Plan Arbitration Clause with Class Action Waiver But Allows for Plan-wide Non-monetary Relief

A federal district court in Florida sent a proposed ERISA breach of fiduciary duty class action to individual arbitration on the basis of a plan arbitration clause that allowed for individual relief and plan-wide injunctive...more

Clark Hill PLC

Supreme Court Declines to Close Floodgates on 401(k) and 403(b) Fee Litigation

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The past 15 years have witnessed a steady stream of lawsuits alleging that employers’ 401(k) or 403(b) plans forced participants into underperforming or overpriced investment options, or that plan participants’ accounts were...more

Kilpatrick

Supreme Court Affirms Fiduciaries’ Responsibility for Each Investment Option

Kilpatrick on

The Supreme Court today issued a succinct, unanimous opinion in Hughes v. Northwestern University. The Court affirmed that fiduciaries of retirement plans (including university 403(b) plans like Northwestern’s as well as the...more

Proskauer - Employee Benefits & Executive...

DOL Statement on Private Equity Investment Emphasizes Fiduciary Responsibility

On December 21, 2021, the Department of Labor (the “DOL”) published a Supplemental Statement (the “Supplemental Statement”) to its June 3, 2020 Information Letter (the “2020 Letter”) addressing fiduciary considerations for...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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Get an ERISA attorney to bless any merger or asset sale

If your company is buying the stock or the assets of another company, get an ERISA attorney to review if there is a retirement plan of your target involved. Too many corporate attorneys forget to call in an ERISA expert and...more

Verrill

Supreme Court will Hear Northwestern University 403(b) Plan Excessive Fee Case

Verrill on

The United States Supreme Court will weigh in on the spate of recent lawsuits filed against colleges and universities related to the schools’ retirement plans. The Court has granted a request for review from participants in...more

Carlton Fields

DOL to Plan Sponsors: “It’s All About the Benjamins!”

Carlton Fields on

Dear Department of Labor: The fiduciary role of selecting 401(k) and 403(b) plan investment options based on diversification and projected risk and return is too easy. Can we sacrifice some returns in order to promote social...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Preventative Medicine For Your 401(K) And 403(B) Plan

Multiple new lawsuits have been filed since the start of 2020.  Complications caused by the Coronavirus have not slowed the onslaught of 401(k) fee litigation across the country. Last month, Teva Pharmaceuticals USA Inc. was...more

Proskauer - Employee Benefits & Executive...

DOL Issues Final “ESG” Rule Restricting ERISA Fiduciary Consideration of Non-Pecuniary Investment Factors

On October 30, 2020, the U.S. Department of Labor (the “DOL”) issued a final rule on factors for selecting plan investments, which restricts “do-good” or “ESG” investing.  In response to public comments, the final rule rolls...more

Carlton Fields

Alternative Retirement Plan Investments: A Retirement Plan Committee Checklist

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Participants do not always prefer the investment choices retirement plans offer. Whether participants want additional ways to diversify their portfolios or have other reasons, participants are asking retirement plan sponsors...more

Bowditch & Dewey

401(k) Investment Decisions: New DOL Guidance Raises a Green Flag

Bowditch & Dewey on

If you have a role in picking the investment options for your company’s 401(k) or 403(b) plan, newly proposed Department of Labor (DOL) guidelines puts guardrails around the use of Environmental, Social, and Governance...more

Bowditch & Dewey

DOL Proposes New Rules for Selecting Retirement Plan Investments

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If you are a member of the committee for your employer’s pension, 401(k), profit-sharing, or 403(b) plan, you should check out a set of proposed rules for selecting investments. If you have an outside investment advisor, as...more

Proskauer - Employee Benefits & Executive...

D.C. Circuit Rules that ERISA Plan Participant’s Release Extends to Fiduciary Breach Claims On Behalf of The Plan

On March 24, 2020, the D.C. Circuit Court upheld a district court ruling that an ERISA plan participant’s broad release of claims includes breach of fiduciary duty claims against ERISA plan fiduciaries, notwithstanding the...more

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