Newsmakers
Brown University Settles ERISA Class Action Suit for $3.5 Million
Complaint alleged excessive fees cost 403(b) participants millions.
Tag: ERISA
Court Dismisses Exxon Lawsuit over Climate Impact
Complaint alleged oil company’s fiduciaries violated ERISA.
American Century Wins 401(k) Class Action Lawsuit
Judge rules that offering employees only proprietary funds does not violate ERISA.
Court Rules Firms Can’t Skirt Pension Withdrawal Fee
Construction company owes more than $641,000 for leaving multiemployer plan.
Regulation
Duke Pays More than $10 Million to Settle Retirement Plan Lawsuits
The university allegedly violated ERISA with poor investments and unreasonable expenses.
Pension Fund Sues Ocwen over Alleged Breached ERISA Duty
Lawsuit claims firm hurt pension’s investments by pushing homeowners into foreclosure.
Regulation
High Court Ruling May Not Settle Church Plan Issue
Sotomayor comments suggest decision goes against spirit of ERISA exemption.
Risk
Sears Transfers Pension Liabilities to MetLife in “De-risking” Move
Beginning August 1, 51,000 participants will receive benefit payments from MetLife.
Labor Department Investigates 3M Pension Plan
Inquiry relates to private equity investments, expenses, securities lending, and distributions of benefits.