Ex-employees are suing Verizon, as well as State Street Global Advisors, which served as the “independent fiduciary” in putting together the deal to manage the pensions of 56,000 retirees.
The fast food company is joining a growing list of employers, including Walmart and Boeing, that are re-evaluating their diversity, equity, and inclusion policies, while Costco is doubling down on DEI.
The online retailer has been hit with a class-action lawsuit, alleging it violated its ERISA fiduciary duties by using forfeited 401(k) funds to offset company contributions instead of reducing administrative fees for participants.
The lawsuit alleged that UnitedHealth CFO John Rex interfered with the company’s decision to drop “one of the worst-performing target-date options in the entire market.”
Employees of Seattle-based Weyerhaeuser Company filed a class-action lawsuit over the transfer of plan assets to Athene Annuity & Life Assurance, alleging a breach of fiduciary duty, according to law firm Schlichter Bogard.
Last week, the world’s largest retailer announced that it will start to unwind its Center for Racial Equity, as other employers—including Boeing, Ford, and JPMorgan Chase—have also begun backing away from their DEI policies.
Boeing union workers, in their seventh week of a strike, are seeking higher wages along with the restoration of the company's pension plan, which has been frozen since 2014.
New research findings raise an important question for employers: Are your retirement plans truly supporting your employees, or are they costing them more than they should?
The average employer-sponsored premium for U.S. families rose 7% this year—the same amount as last year, according to an annual KFF survey of 2,100 companies.