News & Analysis as of

Settlement Agreements Employee Retirement Income Security Act (ERISA)

Jackson Lewis P.C.

Withdrawal Liability Collection Scope Expanded

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Takeaway Related Links Article The Third Circuit’s recent ruling enhanced a pension fund’s ability to pursue withdrawal liability collection against affiliated employers. The decision underscores the evolving nature of ERISA,...more

Groom Law Group, Chartered

Proposed Settlement Agreement Reached in Actuarial Equivalence Lawsuit

Earlier this month, a group of retired employees of Citgo Petroleum Corporation filed a motion for settlement of their lawsuit claiming they were harmed by their pension plan’s use of unreasonable actuarial assumptions. The...more

Alston & Bird

Class Action & MDL Roundup 2024 Q1 – Reaching Across the Pond

Alston & Bird on

Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2024. In this edition, UK High Court weighs in on information asymmetry, debit is better than credit,...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Frantz Ward LLP

Sixth Circuit Revives an Equitable Claim for Disgorgement Under ERISA Where an Insurer Obtained Reimbursement is Not Set Forth in...

Frantz Ward LLP on

In Patterson v. United Healthcare Insurance Company, 76 F.4th 487 (6th Cir. 2023), the Sixth Circuit held that the plaintiff insured had stated an equitable claim for disgorgement under ERISA where he sought disgorgement of...more

Proskauer - Employee Benefits & Executive...

Massachusetts District Court Grants Motion to Dismiss 401(k) Fiduciary Breach and Prohibited Transaction Claims

A federal district court in Massachusetts dismissed ERISA fiduciary breach and prohibited transaction claims against 401(k) plan fiduciaries, ruling that the prohibited transaction claims were time-barred and the fiduciary...more

Polsinelli

Department of Labor Settles with TPA to End Cross-Plan Offsetting Practice

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The U.S. Department of Labor (“DOL”) recently entered into a settlement agreement with a New York-based insurer and third-party administrator (“Company”) of employer group health plans governed by the Employee Retirement...more

Proskauer - Employee Benefits & Executive...

Pre-Petition Settlement Agreement Not an Assumable, Assignable, Executory Contract

In Svenhard’s Swedish Bakery v. United States Bakery, Bk. No. 19-15277, 2023 WL 5541420 (9th Cir. Aug. 29, 2023), the Ninth Circuit held that a settlement agreement that resolved an employer’s withdrawal liability to a...more

Wiley Rein LLP

Ninth Circuit: Excess Carrier Not Entitled to Challenge Payment Decisions of Underlying Carriers

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The United States Court of Appeals for the Ninth Circuit, applying California law, has held that an excess insurer could not second-guess the payment decisions of underlying insurers absent a showing of fraud or bad faith, or...more

Holland & Knight LLP

Something Old, Something New and Something Borrowed in Latest DOL Process Agreement

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On the same day that the U.S. Department of Labor (DOL) filed a lawsuit against the Farmers National Bank of Danville (FNB) and the Weddle Brothers Construction Company Inc. Employee Stock Ownership Plan, the parties agreed...more

Seyfarth Shaw LLP

5 Key Trends In Workplace Class Action Litigation In 2019: #4 Lower Class Action Settlement Numbers In 2019

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Seyfarth Synopsis: As measured by the top ten largest case resolutions in various workplace class action categories, overall settlement numbers increased slightly in 2019, but as compared to the last several years, it was one...more

Farella Braun + Martel LLP

New Laws for California Employers in 2020

The California Legislature and Governor Newsom have passed a sizable list of new laws governing the workplace in 2020. Employers are, once again, advised to evaluate their workplace rules and practices to insure they keep...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

Jackson Lewis P.C.

University Settles Claims Involving Use Of Retirement Plan Participant Data For Cross-Selling By Recordkeeper

Jackson Lewis P.C. on

Wrongful use of retirement plan participant data was among the claims made by a class of 40,000 participants against the plan sponsor and others in Cassell et al. v. Vanderbilt University et al. Specifically, the plan...more

Seyfarth Shaw LLP

5 Key Trends For Workplace Class Action Litigation In 2018: #4 Lower Class Action Settlement Numbers In 2018

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Seyfarth Synopsis: As measured by the top ten largest case resolutions in various workplace class action categories, overall settlement numbers decreased significantly in 2018 as compared to 2017. ...more

White and Williams LLP

California Federal Court Rules Excess Policy Not Triggered by Underlying Insurers’ Payment of Uncovered Loss

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On Monday, November 16, 2018, in AXIS Reinsurance Company v. Northrop Grumman Corporation, Case No. 17-8660 (C.D. Cal.), a federal district court in California ruled that an excess fiduciary liability insurer did not owe...more

JAMS

Inside ADR: August Insights

JAMS on

Broad Arbitration Clause Covers Disputes - Parm et al., v. Bluestem United States Court of Appeals, Eighth Circuit 2018 WL 3733424 - Parm and others (plaintiffs) had financing agreements with retailer Bluestem, which...more

Holland & Knight LLP

DOL Enters into 5th Settlement Agreement with an ESOP Trustee – and It Looks Familiar

Holland & Knight LLP on

• The U.S. Department of Labor has entered into a fifth settlement agreement with the trustee of an employee stock ownership plan (ESOP). The agreement was entered into in connection with a recently settled case relating to...more

Holland & Knight LLP

DOL Settlement Agreement Provides ESOP Transaction Guidance

Holland & Knight LLP on

• The U.S. Department of Labor (DOL) and First Bankers Trust Services Inc. (FBTS) have entered into a settlement agreement filed in U.S. District Court for the Southern District of New York, resolving a case challenging FBTS'...more

Seyfarth Shaw LLP

Judge Garland’s ERISA Jurisprudence Reflects His Methodical and Moderate Reputation

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With President Obama’s recent nomination of Judge Merrick B. Garland of the U.S. Court of Appeals for the D.C. Circuit to the U.S. Supreme Court, we thought our loyal readers would be interested to learn a little about Judge...more

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