Browsing Tag
401(k) Litigation
272 posts
401(k) litigation refers to legal actions brought by plan participants against employers or plan fiduciaries, typically alleging mismanagement of retirement plans. Common claims include excessive fees, poor investment choices, failure to monitor service providers, and breaches of fiduciary duty under ERISA. These lawsuits seek to hold fiduciaries accountable for decisions that may harm participants’ retirement savings. The outcomes can lead to financial settlements, plan reforms, or precedent-setting rulings that impact fiduciary standards.
Key Takeaways to Consider in Wake of American Airlines ESG Opinion
Judge’s recent decision in landmark case gives plenty for plan fiduciaries, sponsors and advisors to think about moving forward
Southwest 401(k) Hit with Lawsuit for Underperforming Fund
Suit filed Tuesday alleges airline failed to replace a “chronically underperforming fund” holding over $2 billion in retirement plan assets
Groups Urge Supreme Court to Clarify ERISA Litigation Pleading Standards to Combat Surge in Frivolous Suits
Amicus briefs filed asking Court to affirm Second Circuit judgment in Cunningham v. Cornell University which will be heard on Jan. 22
UnitedHealth Group Agrees to Historic $69 Million 401(k) ERISA Settlement
Amount believed to be largest ever for an ERISA case about poorly performing investment options in a 401(k) plan
Current State of Retirement Plan Forfeiture Litigation Subject of Wagner Law Update
25 forfeiture lawsuits have been filed to date; brief focuses on recent Clorox decision and potential impact of Supreme Court Loper Bright ruling
Groups Urge Supreme Court Review of Ninth Circuit Ruling That Could Explode ‘Frivolous’ ERISA Litigation
ERIC, American Benefits Council and SPARK Institute among those filing amicus brief saying allowing decision to stand would redefine prohibited transactions
$61 Million Settlement Finalized in GE ERISA Case
Final approval announced today marks largest settlement ever in an ERISA case alleging a retirement plan improperly offered proprietary funds
Forfeiture Litigation Raises New Issues for Plan Fiduciaries
Groom Law Group’s George M. Sepsakos covers allegations and potential implications of recent lawsuits against plan fiduciaries related to the use of plan forfeitures
7 Key Takeaways from 2023 Excess Fee and Performance Litigation
Euclid Fiduciary’s Daniel Aronowitz recently released his annual report on ERISA class action litigation
‘Most Viewed’ Articles of 2023 Driven by 7 Topics
A look back at what subjects resonated most with 401(k) Specialist readers over the past year