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Fiduciary Duty Recordkeeping Requirements Excessive Fees

Jackson Lewis P.C.

Sixth Circuit Affirms Dismissal of Excessive Fee Case Against DENSO International

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The Sixth Circuit recently granted an employer win in an ERISA excessive fee case when it affirmed the dismissal of a proposed class action brought by current and former employees of DENSO International America, Inc., a...more

Holland & Hart - The Benefits Dial

Every Little Thing … Employer Considerations as New 401(k) Lawsuit Includes Extensive Claims

by Alex Smith A recently filed lawsuit related to Swiss Re’s 401(k) plan stands out because of the extensive assortment of allegations...more

Proskauer - Employee Benefits & Executive...

Northwestern University’s Alternative Explanations Not Strong Enough To Defeat ERISA Excessive Fee Claims

On remand from the U.S. Supreme Court, the Seventh Circuit issued its opinion in Hughes v. Northwestern University, concluding that participants in two Northwestern 403(b) plans plausibly pled fiduciary-breach claims based on...more

Dorsey & Whitney LLP

Excessive Recordkeeping Fee Claim Squeaks by a Motion to Dismiss

Dorsey & Whitney LLP on

A federal court in Wisconsin recently allowed a putative ERISA class action in Lucero v. Credit Union Ret. Plan Ass’n to proceed to discovery on the claim that a 401(k) plan paid excessive recordkeeping fees. This decision...more

Proskauer - Employee Benefits & Executive...

District Courts Reach Opposite Conclusions on 401(k) Excessive Fee Claims

A district court in the Southern District of Ohio and one in the Western District of Wisconsin reached opposite conclusions on motions to dismiss claims for fiduciary breach based on allegations that recordkeeping fees were...more

Proskauer - Employee Benefits & Executive...

New York District Court Rejects ERISA Excessive Fee Claims as Insufficient

A district court in New York recently dismissed a putative class action challenging retirement plan recordkeeping and investment management fees. The case is Singh v. Deloitte LLP, No. 21-cv-8458, 2023 WL 186679 (S.D.N.Y....more

Proskauer - Employee Benefits & Executive...

Two District Courts in the Seventh Circuit Grapple with Pleading Standards in ERISA Excessive Fee Cases

In Baumeister v. Exelon, No. 21-cv-6505, 2022 U.S. Dist. LEXIS 176711 (N.D. Ill. Sep. 22, 2022) and Coyer v. Univar Sols. USA Inc., No. 22-cv-362, 2022 U.S. Dist. LEXIS 175972 (N.D. Ill. Sep. 28, 2022), two Illinois district...more

Jackson Lewis P.C.

Supreme Court Struggles to Apply “Twiqbal” in Retirement Plan Fee Cases

Jackson Lewis P.C. on

Monday, the Supreme Court heard oral arguments in Hughes v. Northwestern University, No. 19-1401, just one of about 150 similar class action suits filed around the country in the last few years. The case was brought by...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

Proskauer - Employee Benefits & Executive...

Tenth Circuit Addresses Damages for Excessive Recordkeeping Fee Claims

One of the multitude of recent cases challenging the recordkeeping fees of 401(k) plans recently made its way to the Tenth Circuit Court of Appeals. Ramos v. Banner Health, No. 20-1231, — F.3d —- (10th Cir. June 11, 2021). ...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #11

This is the eleventh in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #9

Best Practices: Lessons Learned from Litigation (#2)—the Vanderbilt Case - I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #8

Best Practices: Lessons Learned from Litigation—the Anthem Case - I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about the Best...more

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