Posts in “Litigation”
Fiduciary Litigation Update
Plaintiffs’ must use truly comparable benchmarks in claiming imprudent fiduciary decisions.
Nature Abhors a Vacuum - and So Should Fiduciaries
The recent decision by the U.S. Court of Appeals for the 5th Circuit to invalidate the DOL’s fiduciary rules creates further confusion in an area that had already suffered from an excess of …confusion. A few things to note in considering this state of affairs: • The 5th Circuit’s opinion goes to the core of key […]
Fiduciary Lawsuits: A New Chapter Opening?
A new chapter may be opening in the ongoing saga of litigation against plan fiduciaries. This new chapter could lead plan sponsors and advisors to rethink – and expand – their view of the scope of their fiduciary responsibility. On January 10, the plaintiffs in the lawsuit against New York University’s plans filed an amended […]
Higher Ed Fiduciary Lawsuits: A Scorecard and Some Observations
A little over a year ago a series of lawsuits were filed against major universities. The lawsuits alleged that these schools violated their fiduciary obligations under ERISA by failing to properly manage plan costs and investment performance. In effect, these lawsuits were the higher ed/tax sheltered annuity version of the 401(k) litigation that has been […]
Do What You Say You Are Going to Do
The Department of Labor recently filed a lawsuit against Macy’s department store (Acosta v. Macy’s, Inc., S.D. Ohio, No. 1:17-cv-00541, complaint filed 8/16/17). The lawsuit has received some attention among benefits professionals; but this attention has focused on one aspect of the DOL complaint – claims that the tobacco surcharge imposed under the Macy’s health […]