Retirement & Benefits

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.”

SAG-AFTRA Health Plan, which provides healthcare benefits to eligible members of the entertainment industry, was hit with three class actions in California following a data breach incident that occurred in September.

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.

Many companies mitigate the interest rate risk of their cash balance plans with floors using a binary approach. Here’s a better option.

The winner of the 2024 Gold Alexander Hamilton Award in Financial Risk Management is Bristol Myers Squibb. Congratulations to the BMS team!

By being prepared and implementing strategic solutions, employers can mitigate some of the financial pressures that may arise from the IRA, ensuring that their employees and retirees are better protected from the ripple effects of this landmark legislation.