The class-action lawsuit, filed on behalf of 60,000 plan participants, alleges that the airline failed to replace a “chronically underperforming” large-cap fund holding more than $2 billion in retirement plan assets.
The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class-action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.
The banking giant has been hit with a class-action lawsuit alleging it used retirement plan contributions from departing employees to “offset its employer contributions” rather than reducing plan administrative fees, violating ERISA.
A federal judge has dismissed—for the second time—a lawsuit against Bechtel Global that alleged the $5.7 billion plan’s default managed account investment led to excessive fees and subpar returns, arguing that a target-date fund would have been a better alternative.
The relentless rise in government bond yields in the United States and around the world may represent the “new normal” for both investors and companies.
A federal judge in Texas ruled that the company violated its ERISA duties by not focusing “on the best financial benefit” for its 401(k) plan—the biggest victory yet in a case involving ESG investing.
“Issuers are taking advantage of calm markets, low volatility, and tight spreads before Trump’s tariffs might spoil the party. ... For a record amount of issuance, there must also be a large amount of investors ready to put money at work. This is indeed the case.”
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 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.”
