Securities Fraud, ERISA Class Action Settlements Surge in 2025
Tesla, Alphabet and Alibaba paid almost half the money in last year’s 10 largest settlements related to securities and ERISA.
Tag: ERISA
Pension Risk Transfer Lawsuit Against General Electric Dismissed
The company was accused of violating its fiduciary duty by picking Athene for a $1.7 billion PRT in 2020.
Pensions
R.B. Pamplin Corp. to Restore $20.6M in Pension Assets, Unwind Illegal Real Estate Investments
The Department of Labor concluded that Pamplin had used assets from its pension plan to acquire the company’s own real estate, exceeding limits under ERISA.
Pensions
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
Pensions
US Defined Contribution Plans Need to Cover More Workers, Says TIAA
The study also suggested that workers should be required to join 401(k)s and other retirement programs.
Pensions
2nd Suit Filed Against AT&T’s 2023 PRT Deal
Selection of insurer Athene is again the focus in litigation over the telecom company's $8.05 billion pension risk transfer.
Pensions
AT&T Sued Over 2023 Pension Annuitization With Athene
Beneficiaries' suit claims telecom company 'turned its back on its retired workers' in risk transfer deal.
Regulation
Suggestions Sought for Retirement Plan Reporting, Disclosure
With a report on improvements due in 2025, the IRS, PBGC and EBSA are accepting feedback during a 90-day comment period.
Regulation
PBGC Updates Mortality Tables for 2024
The tables are used for calculating withdrawal liability and missing participant program transfer amounts.
Regulation
Law Firm Letter Backs DOL Rule on ERISA Fiduciaries Using Climate Factors
Fiduciaries may use climate funds, as long as financial returns receive equal or greater weight to collateral benefits, the Wagner Law Group wrote in an open letter.
Regulation
Insurance Executives Say ERISA PRT Rule Is Enough
Only minor changes to the DOL's PRT regulation, IB 95-1, would be needed to account for changing market conditions, industry leaders say.
Regulation
Changes to Pension Risk Transfer Rules Might Be Coming
The ERISA Advisory Council met this week to discuss possible changes to IB 95-1, which outlines how fiduciaries should select an annuity provider.
Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Newsmakers
Court Refuses to Dismiss Central States Pension Lawsuit
District of Northern Illinois judge finds employer liable for withdrawing from pension obligations during collective bargaining agreement transition.
Regulation
Final DOL Rule Permits ESG in ERISA Plans
The DOL published a final rule that makes it easier for sponsors to take ESG factors into account in investments and shareholder activism, reversing a Trump-era rule.