Overview of H.R. 2988 and Potential Implications for ERISA Fiduciaries
Overview of H.R. 2988 and Potential Implications for ERISA Fiduciaries
H.R. 2988 proposes changes to ERISA fiduciary standards affecting investment decision-making, service provider selection, proxy voting, and brokerage window disclosures.
The Next Wave of Fiduciary Challenges
New ERISA lawsuits signal closer review of voluntary benefit plans.
Empower and Vanguard Penalized for Undisclosed Conflicts
Undisclosed Conflicts of Interest: Will Another $25 Million in Fines Change Anything?
Doors to Swing Open for Alternative Investments
On Aug. 7, President Trump signed an executive order intended to expand retirement plan investments into “alternative” assets (including private equity and crypto). This executive order appears to mark a turning point in a campaign for these alternative assets to access the $30 trillion currently accumulated in the private (i.e., non-governmental) U.S. retirement system.
Expanded Self-Correction Options: A New Era of Flexibility
Congress and regulators ease plan corrections. This is welcome relief.
Tide of ERISA Litigation to Continue
A new Supreme Court ruling may further open the door to ERISA fiduciary claims.
Spence v. American Airlines: Expanding the Playing Field for Fiduciary Liability?
A federal court in Texas has ruled that American Airlines breached its duty of loyalty under ERISA by failing to respond to activities undertaken by a plan investment manager (BlackRock) supporting ESG initiatives. The court was unable to find a breach of prudence—rather it relied solely on the obligation of “loyalty.”
Trump 2.0: Some Predictions
As we enter 2025 there is much speculation about the policies the Trump administration (“Trump 2.0”) will pursue. This blog discusses what might occur under the incoming administration with respect to retirement plans and how the incoming administration could shape the retirement plan landscape.
New Front on Fiduciary Litigation?
As employers have become more attuned to their fiduciary responsibilities, plaintiffs’ attorneys have had to dig deeper to find a basis for suing plan sponsors. Two recent court decisions (Hutchins v. HP Inc and Perez-Cruet v. Qualcomm Inc) reflect diametrically opposing judicial responses to the same new litigation strategy, The Claims Both Hutchins and Perez-Cruet […]