News & Analysis as of

Fiduciary Duty Pensions

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Overpaying for Underperformance: A Fiduciary Breakdown in Plain Sight

A massive new study by Abernathy-Daley covering nearly 58,000 corporate 401(k) plans delivered a simple—but startling—message: virtually every plan suffers from overpriced, underperforming funds. In fact, 99% of plans have at...more

A&O Shearman

UK Pensions in dispute - July 2025

A&O Shearman on

A scheme has been ordered to pay over GBP50,000 by the Pensions Ombudsman (TPO) for failure to pay lump sum death benefits within a two-year window set out in the scheme’s rules: CAS-66581-S4T8. The rules provided that...more

Latham & Watkins LLP

US Government Reopens Discussion of Private Pension Investments Expectations

Latham & Watkins LLP on

The Department of Labor has taken two recent actions that indicate where the approach to retirement investment policy may go under the new administration....more

Blake, Cassels & Graydon LLP

The Future of Canadian Pension Governance: Updated Legal Insights

The Canadian regulatory landscape presents a dynamic mix of regulatory, policy and governance updates that demand careful attention from Canadian pension plan sponsors and administrators. Federal and provincial initiatives,...more

Stikeman Elliott LLP

Commu(nica)ted Value: The Québec Superior Court Provides Guidance to Pension Plan Administrators and Employers

Stikeman Elliott LLP on

A recent Québec Superior Court decision (Bernard c. Association de bienfaisance et de retraite des policiers et policières de la Ville de Montréal (“Bernard”)) highlights the importance of clear communications with pension...more

Mayer Brown

DB Pension Endgame Options – Pensions Regulator Guidance

Mayer Brown on

The Pensions Regulator (TPR) has published guidance for trustees on new models and options for DB and hybrid pension schemes. While some of these are endgame options, the guidance also covers options for improving financial...more

A&O Shearman

UK Pensions: What’s new this week? May 19, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Mansion House Accord: pension providers commit to increase...more

Hogan Lovells

Celebrating a Century: The enduring relevance of the Trustee Act 1925 for UK Pension Trustees

Hogan Lovells on

2025 marks the centenary of the Trustee Act 1925, which received Royal Assent in Parliament on 9 April 1925. This article explores how, 100 years on, the Act continues to provide crucial guidance and protection for trustees,...more

Morgan Lewis - ML Benefits

DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL unveils Model VFCP Model Participant Notice

The Department of Labor (DOL) has issued a model notice for applicants to the Voluntary Fiduciary Correction Program (VFCP)....more

Verrill

Does ERISA Work?

Verrill on

On Labor Day, September 2, 1974, Gerald Ford signed the Employee Retirement Income Security Act (“ERISA”) into law. ERISA governs the employee benefit plans (i.e., retirement and welfare plans) of most private employers in...more

Jackson Walker

2025 Regulatory Review: Implications for Retirement Plans and Employer Actions

Jackson Walker on

The first few months of 2025 brought the potential for many changes. On January 20, 2025, one of the Executive Orders pulled back all proposed regulations that had been issued in the last 60 days, including proposed...more

Seyfarth Shaw LLP

First Rulings on Pension Risk Transfer — ERISA Class Actions Reach Opposite Conclusions on Article III Standing

Seyfarth Shaw LLP on

The first two district court opinions deciding whether plaintiffs have Article III standing to challenge pension risk transfers have reached opposite conclusions. One case will proceed to discovery, and the other has been...more

A&O Shearman

Pensions: Joint DB and DC trustee agenda update - April 2025

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Welcome to our monthly update on current legal issues for trustees of DC and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more

Mayer Brown

The Pensions Brief: March 2025

Mayer Brown on

ISSUES AFFECTING ALL SCHEMES - PENSION SCAMS – UPDATED MEMBER LEAFLET - The Pensions Regulator (TPR) has updated its member leaflet on pension scams to remove the reference to Pension Wise....more

A&O Shearman

Pensions in dispute - March 2025

A&O Shearman on

Welcome to our quarterly pensions litigation briefing, designed to help pensions managers identify key risks in scheme administration, and trustees update their knowledge and understanding. This briefing highlights recent...more

Verrill

Spence v. American Airlines: A Texas Court’s View of the Duty of Loyalty under ERISA

Verrill on

Since we last discussed environmental, social, and corporate governance (“ESG”) developments in the context of ERISA retirement plans, ESG litigation has taken a rather unexpected turn. Although the plan lineup in Spence v....more

Morgan Lewis

DOL’s VFCP Final Rule Adds Limited ‘Self-Correction’ Program for Late Contributions, Participant Loan Failures

Morgan Lewis on

The Employee Benefits Security Administration recently released its final rule amending and restating the Voluntary Fiduciary Correction Program, along with corresponding amendments to a related class exemption, Prohibited...more

A&O Shearman

Pensions: what’s new this week? February 10, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. High Court 'blesses' merger of scheme in winding-up and sharing...more

Groom Law Group, Chartered

DOL Finalizes Update to Voluntary Fiduciary Correction Program

On January 15, 2025, the Department of Labor (“DOL”) issued notice amending its Voluntary Fiduciary Correction Program (“VFCP”), along with related final amendments to Prohibited Transaction Exemption 2002-51 (“PTE 2002-51”),...more

Mayer Brown

The Pensions Brief: February 2025

Mayer Brown on

ISSUES AFFECTING ALL SCHEMES - PENSION SCAMS – MEMBER LEAFLET - The Pensions Regulator (TPR) has updated its member leaflet on pension scams so that it is branded from the Pension Scams Action Group rather than TPR. The...more

McDermott Will & Emery

Trump Places DOL’s ESOP Proposals in Regulatory Moratorium

On January 16, 2025, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released two pieces of guidance that, if finalized, would dramatically change the landscape for fiduciaries responsible...more

A&O Shearman

Pensions: what's new this week - February 3, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. New rules on accessing DB surpluses - The Government has...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

Jackson Lewis P.C.

Exciting Update: Self-Correction for Delinquent Contributions Now Possible Under the DOL’s VFCP

Jackson Lewis P.C. on

On January 14, 2025, the Employee Benefits Security Administration (EBSA) within the Department of Labor (DOL) updated its Voluntary Fiduciary Compliance Program (VFCP). The VFCP allows plan officials to correct certain...more

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