JD

A class action involving a $1.6 billion 401(k) plan has been fast-tracked to the U.S. Court of Appeals for the Third Circuit for a ruling on an issue of emerging concern in ERISA excessive fee litigation. The case involves three participant-plaintiffs—Mary K. Boley, Kandie Sutter and Phyllis Johns... READ MORE

The Chairpersons of two of the leading retirement plan committees in Congress are calling for a review of…target-date funds. Sen. Patty Murray (D-WA), Chair of the Senate Committee on Health, Education, Labor & Pensions, and Rep. Robert Scott (D-VA), Chairman of the House Committee on... READ MORE

Yet another stock drop case has made its way to the doors of the U.S. Supreme Court—but no further. The defendants in this case (Allen v. Wells Fargo & Co.) were the fiduciaries of the Wells Fargo 401(k) plan—and the plaintiff filed on behalf of Wells Fargo 401(k) plan participants whose... READ MORE

An important decision, made in minutes. No, that’s not retirement plan savings—though various consumer surveys have suggested that many spend more time mapping out their annual vacations than how they’ll fund their retirement needs.  Rather, that’s how a new white paper by Voya’s Thought... READ MORE

A little more than a year after plaintiffs alleged that their “account would have been worth more at the time it was distributed from the Plan had Defendant not violated ERISA,” the parties have come to terms. The defendant in this case is John Hancock, which was sued by plaintiff Jennifer Baker,... READ MORE

Alleging that “…Defendants did not engage in any objectively reasonable and/or prudent efforts when paying fees for RPS to covered service providers…,” a $4 billion plan finds itself in the litigation crosshairs. This time the target is the Kimberly Clark Corporation 401(k) and Profit Sharing Plan... READ MORE

In a complicated case that a federal judge acknowledged “…presents interesting issues about what it means to be an ERISA fiduciary under the circumstances presented,” Principal Life once again fended off fiduciary claims regarding the operation of its PFIO offering.  A little more than a year ago... READ MORE

Teresa Ghilarducci has both a “new” proposal and a new collaborator and—I hope you’re sitting down—I actually agree with her.  Well, partly anyway.[1] Her new proposal is—as a recent op-ed in the Washington Post puts it—“Everyone should have the retirement plan federal employees enjoy.”... READ MORE

Another federal court has weighed in on the status of participant data as a plan asset. The issue arose most recently last January in an excessive fee suit brought by the St. Louis-based law firm of Schlichter, Bogard & Denton on behalf of four participant-plaintiffs in Shell Oil Co.'s $10.5... READ MORE