airline-money-benefits-ERISA

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.”
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DOL Tries (Again) to Redefine ERISA Investment Fiduciary

DOL takes another swing at redefining investment fiduciaries

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SECURE 2.0 Guidance Helps Plan Sponsors Clean the Slate

This IRS has issued Notice 2023-43 as regulators begin the job of issuing the guidance needed to implement the provisions of SECURE 2.0. This Notice makes it easier for plan sponsors to correct administrative errors–without the need for IRS filings or penalties. Mistakes Happen–So What to Do? Since 1991 the IRS has had a program […]

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DOL Revamps ESG Guidance

The U.S. Department of Labor has issued new final regulations, revising regulations adopted in 2020, that attempt (once again) to clarify how plan fiduciaries can consider the use of environmental, social and governance factors (“ESG”) in making plan investment decisions. The final regulations also contain guidance on fiduciary considerations in proxy voting. Why the Fuss? […]

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Courts of Appeals Reject Generalized Allegations

The ERISA world focused much energy and attention on the U.S. Supreme Court’s decision in Hughes v. Northwestern University, in which the Court reinstated a fiduciary suit against Northwestern University. In the aftermath of the Court’s decision, many analysts concluded that the decision would make life even more difficult for plan fiduciaries seeking to fend […]

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Supreme Court Weighs in (Marginally) in Fiduciary Litigation

Fiduciaries responsible to exercise prudence in all decisions—not just some.

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TIAA Sanctioned for Misleading Plan Participants

TIAA’s business interests conflicted with those of the employer-sponsored plans record kept by TIAA–and TIAA chose to serve its own interests over those of its clients.

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Medicare Eligibility

Plan Data: What is "Secure"?

What does it mean for a retirement plan to “protect” data–and are barriers to unauthorized access limited to blocking hacks?

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Higher Ed Fiduciary Lawsuits A Scorecard and Some Observations

Fiduciary Litigation Update

Plaintiffs’ must use truly comparable benchmarks in claiming imprudent fiduciary decisions.

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Outgoing Administration Offers a Few Parting Shots

Recent guidance from the DOL illustrates the outgoing administration’s desire to leave its mark.

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