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Retirement Plan › Excessive Fees › Investment

Holland & Hart - The Benefits Dial

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

Holland & Hart - The Benefits Dial on

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

Davis Wright Tremaine LLP

Excessive Fees or Incessant Litigation – Time for Legislative and Employer Action on Retirement Plans!

Davis Wright Tremaine LLP on

Commonly referred to as "excessive fee" litigation, class actions that allege retirement plan investments charge too much and earn too little have increased over the past two decades. Excessive fee cases are difficult to...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Reverses Dismissal of 401(k) Fees Claims

Proskauer - Employee Benefits & Executive... on

The Fifth Circuit recently reversed a district court’s dismissal of claims that the fiduciaries of a 401(k) plan breached the duty of prudence under ERISA by offering participants retail share classes instead of cheaper...more

Davis Wright Tremaine LLP

Prudent Plan Governance Essential in Defense Against Fiduciary Breach

Davis Wright Tremaine LLP on

Although retirement plan excessive fee cases remain an ongoing concern for plan sponsors, the recent jury trial victory for Yale in Vellali, et. al. v. Yale University, et. al. provides hope for plans with strong, prudent...more

Verrill

Unanimous Supreme Court Overturns Court of Appeals in Northwestern University 403(b) Plans Excessive Fee Case

Verrill on

The United States Supreme Court has agreed with participants in two 403(b) plans sponsored by Northwestern University that their lawsuit, alleging that plan recordkeeping and investment fees were excessive, should not have...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

Burr & Forman

Will the DOL Fiduciary Duty Rule’s Implementation be Delayed?

Burr & Forman on

In 2016, the U.S. Department of Labor (DOL) issued its final rule expanding the “investment advice fiduciary” definition under ERISA and modified the complex of prohibited transaction exemptions for investment activities as a...more

Proskauer - Employee Benefits & Executive...

District Court Dismisses 401(k) Plan Investment Claims Against Chevron Fiduciaries

Proskauer - Employee Benefits & Executive... on

A federal district court in California granted defendants’ motion to dismiss claims asserted by Chevron 401(k) plan participants that the plan fiduciaries breached their ERISA fiduciary duties by selecting underperforming...more

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