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Retirement Plan Investment Management Today's Popular Updates

Troutman Pepper Locke

Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged "ESG Investing" Without Any ESG Funds

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On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Surprise. Nasdaq 100 survey shows demand for Nasdaq 100 fund

Nothing surprises me much anymore, neither should the results of the survey that a Nasdaq 100 survey supports the inclusion of Nasdaq 100 index funds....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

Fenwick & West LLP

Judge Finds American Airlines Breached its Fiduciary Duty of Loyalty by Allowing Investment Manager to Prioritize ESG Goals with...

Fenwick & West LLP on

On January 10, 2025, the U.S. District Court for the Northern District of Texas found that American Airlines and its employee benefit committee (EBC) breached their fiduciary duty of loyalty under the Employee Retirement...more

Seyfarth Shaw LLP

The Department of Labor’s Expanded Cybersecurity Guidance: What ERISA Plan Sponsors and Fiduciaries Need to Know

Seyfarth Shaw LLP on

On September 6, 2024, the U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2024-01, titled “Cybersecurity Guidance Update.” The updated guidance clarifies that the DOL cybersecurity guidance applies to...more

Troutman Pepper Locke

EDVA Judge Allows Pension Investment Expert to Testify in Class Action ERISA Case

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A recent decision by Senior District Judge Robert Payne on a Daubert motion in class action litigation against a pension fund offers some helpful lessons on challenging expert witnesses in the EDVA. Trauernicht v. Genworth...more

Herbert Smith Freehills Kramer

Charting a Course Through ESG Challenges: Perspectives From the US, the UK and Europe

On Tuesday, Apr. 18, Kramer Levin presented a hybrid program, “Charting a Course Through ESG Challenges: Perspectives from the U.S., the U.K. and Europe.” Moderated by Kramer Levin partner Andrew Otis, the event was...more

Robinson+Cole Data Privacy + Security Insider

Alight Solutions Must Comply with Subpoena Issued by DOL in Cybersecurity Incident Investigation

A subpoena was issued to Alight Solutions by the U.S. Department of Labor (DOL) for documents related to a cybersecurity breach that potentially resulted in Employee Retirement Income Security Act (ERISA) violations. Alight...more

Cadwalader, Wickersham & Taft LLP

DOL Warns Sponsors against Permitting Cryptocurrency-Related Investments on 401(k) Plan Investment Menus

The U.S. Department of Labor (“DOL”) last month issued Compliance Assistance Release No. 2022-1 - 401(k) Plan Investments in “Cryptocurrencies” (the “Release”) in which it strongly cautions ERISA plan fiduciaries to use...more

Jackson Lewis P.C.

Is Crypto Too Cryptic for Your 401(k) Plan?

Jackson Lewis P.C. on

It started sometime last year and, in hindsight, was inevitable. Clients with 401(k) plans and a crypto-savvy employee population began asking whether they could offer cryptocurrency as a plan investment option. In the...more

Jackson Lewis P.C.

SEC to Advisors and Funds – Adopt and Implement Cybersecurity Policies and Procedures

Jackson Lewis P.C. on

On February 9, the Securities and Exchange Commission (“SEC”) voted to propose rule 206(4)-9 under the Advisers Act and 38a-2 under the Investment Company Act (collectively, “Proposed Rule”). In general, the Proposed Rule...more

Morgan Lewis - ML Benefits

DOL Begins Its Cybersecurity Audit Initiative – And It’s a Doozy

We repeatedly warned over the past few months, that officials at the highest levels of the DOL were signaling that the DOL would begin an audit initiative focusing on retirement plan cybersecurity practices. ...more

Hogan Lovells

Department of Labor issues novel cybersecurity guidance for benefit plan sponsors and their service providers

Hogan Lovells on

On April 14, the Department of Labor’s Employee Benefits Security Administration (EBSA) issued its first cybersecurity-focused guidance related to benefit plans regulated by Employee Retirement Income Security Act (ERISA)....more

Epstein Becker & Green

EBSA Speaks: New Guidance for Mitigating Retirement Plan Cybersecurity Risk

Epstein Becker & Green on

On April 14, 2021, the U.S. Department of Labor’s (“DOL’s”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The guidance is set forth in three...more

Akerman LLP - HR Defense

ERISA Plan Sponsors – Watch Your Participants’ Data! DOL Issues New Cybersecurity Guidance for Retirement Plans

In response to a recent General Accounting Office (GAO) report recommending federal guidance to mitigate cybersecurity risks in retirement plans and to respond to ever-increasing cyber threats to plan participant data and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Shell gets sued over their 401(k) Plan

Shell Oil, along with Fidelity is the target of a class action 401(k) lawsuit. As typical with a suit against a large billion-dollar 401(k) plan, plaintiffs allege that Shell failed to use the multi-billion dollar 401(k)...more

Littler

Victory for NYU After First Trial in the 401(k) Fee Cases Filed Against Colleges and Universities

Littler on

In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and...more

Carlton Fields

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

Orrick, Herrington & Sutcliffe LLP

Checklist for Strengthening Your Defenses to 401k Plan Class Actions

The last ten years have seen a proliferation of high-profile class actions alleging breach of ERISA fiduciary duties of prudence and loyalty against plan fiduciaries. The claims are usually based upon alleged excessive...more

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