The dissolution of a respected law firm often leaves a trail of financial and legal complexities. Such is the case with a defunct law firm’s retirement plan, which recently disbursed funds after facing a lawsuit from the U.S. Department of Labor (DOL). This legal action underscores the fiduciary responsibilities that extend beyond a firm’s operational…
The U.S. Supreme Court recently exhibited skepticism regarding a lawsuit brought by former Intel employees, who allege a breach of fiduciary duty in the management of the company’s retirement plans. The plaintiffs contend that Intel’s plan managers failed to act with “prudence,” which allegedly resulted in missed investment gains for the retirement plans. Their argument…
The upcoming Supreme Court hearing Anderson v. Intel Corp Investment Policy Committee throws the spotlight on fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA) and the question of what constitutes imprudent investment decisions for employee retirement funds. At the crux of the case is whether unsatisfactory performance of retirement funds, without a “benchmark”…
In a notable development, a Missouri federal court sided with Husch Blackwell LLP in a legal battle involving allegations from a former partner. The case centered on claims that the firm had improperly withheld retirement contributions and mismanaged the employee 401(k) plan. However, the court found that the ex-partner failed to substantiate the accusations of…
The recent legal development involving the Sisters of Charity Health System sheds light on the complexities surrounding ERISA discovery processes and highlights the judiciary’s interpretation of procedural strategies in such cases. Specifically, a federal judge has ruled that the Sisters of Charity cannot bifurcate discovery in an ERISA case by leveraging a recent Supreme Court…
A recent legal maneuver involving an Altria Group Inc. retiree, who has been ordered to cover legal fees, has now advanced to the US Court of Appeals for the Fourth Circuit, where the retiree seeks a rehearing. The case involves Donald F. Williams, who is challenging a prior decision that requires him to pay $6,000…
Vedder Price has made a strategic addition to its team in Chicago with the hiring of Lori Oliphant as a shareholder in its Employee Benefits and Executive Compensation group. Oliphant’s move from her previous position at an established Dallas law firm highlights Vedder’s continued investment in expanding its talent base to better serve its corporate…
As corporate legal departments navigate an increasingly complex landscape, a notable trend in litigation has emerged, focusing on alleged violations of the Employee Retirement Income Security Act (ERISA). Several cases have surfaced, accusing employers and their insurance brokers of failing to comply with ERISA regulations. This trend aligns with broader shifts in employment law, reflecting…
A legal conundrum awaiting the U.S. Supreme Court could alter the landscape of retirement planning for more than 100 million Americans. The case, Anderson v. Intel Corporation Investment Policy Committee, which revolves around employer-sponsored retirement plans governed by the Employee Retirement Income Security Act (ERISA), is set to decide whether litigation burden could dissuade employers…
This month’s legal landscape features several notable defamation cases, capturing attention in various industries. A focal point is Tyra Banks’ lawsuit targeting a Netflix docuseries that allegedly misrepresented aspects of her renowned modeling competition, “America’s Next Top Model.” The legal confrontation underscores the delicate balance between creative expression and factual representation in documentary filmmaking. Further…
In a significant ruling, the United States Supreme Court has addressed how actuaries should handle calculations for employers withdrawing from multi-employer pension plans. The case, M&K Employee Solutions v. Trustees of the IAM National Pension Fund, hinged on whether the Employee Retirement Income Security Act of 1974 (ERISA) necessitates using outdated economic assumptions when determining…
In an effort to provide greater transparency and accountability within the Supreme Court’s operations, Rep. Jamie Raskin, a Democrat from Maryland, has proposed legislative reforms targeting the “shadow docket.” This term refers to the Court’s expedited and often non-transparent procedures in issuing emergency orders without public legal justification. The proposed legislation aims to change that…
The landscape of retirement planning in higher education, particularly regarding 403(b) plans, faces scrutiny as recent ERISA litigation highlights the potential vulnerabilities these plans bear. Educational institutions are increasingly compelled to reassess their offerings to ensure compliance and participant satisfaction. The litigation serves as a wake-up call for colleges and universities, emphasizing the need for…
Employee Retirement Income Security Act (ERISA) litigation is experiencing a surge, largely driven by the success of plaintiff lawyers in class action lawsuits. Gerald L. Maatman Jr., chair of Duane Morris’s class action defense team in Chicago, notes that the plaintiff’s bar is seeing the most success in this area compared to other types of…
The legal dispute involving Evan Greebel, a former lawyer for Martin Shkreli, once again finds itself in the limelight as arguments over his 401(k) reach the US Court of Appeals for the Second Circuit. This case continues to be a point of controversy due to the intertwining of legal ethics and financial rights. Greebel, who…
The implementation of artificial intelligence in employer group health plans is prompting significant shifts for fiduciaries managing these plans. As AI technology continues to advance, its integration into health systems offers promising efficiencies but also raises complex legal challenges. A key concern is ensuring compliance with the Employee Retirement Income Security Act (ERISA), which mandates…
In a recent development in the ongoing ERISA dispute, a former partner at Husch Blackwell LLP has requested that a Missouri federal court deny the firm’s motion for summary judgment. The attorney argues that the case, centered on employee retirement benefits, requires further discovery to proceed effectively. This pushback is part of a proposed class…
“`html The United States Supreme Court is set to deliberate on several intriguing cases, ranging from pension fund eligibility to issues of federal district court jurisdiction over pre-enforcement challenges, signaling potential shifts in significant areas of law. One of the cases under scrutiny examines whether a multiemployer pension plan, specifically involving the Bakery Drivers Local…
The advent of artificial intelligence in managing employee retirement plans has brought both innovations and potential legal challenges, particularly concerning compliance with the Employee Retirement Income Security Act (ERISA). As AI tools gain popularity for their ability to handle vast datasets and identify trends that human fiduciaries might miss, these technologies also introduce new complexities…
Holland & Knight LLP has made a strategic addition to its team by hiring a former partner from Katten Muchin Rosenman LLP. This new hire specializes in the Employee Retirement Income Security Act (ERISA), employee benefits, and executive compensation, enhancing Holland & Knightâs capabilities in these areas. According to a report by Law360, the move…
Holland & Knight has announced the addition of benefits lawyer Katrina Selengut to its New York office, a strategic move to bolster its expertise in employee benefits and executive compensation. Selengut, a seasoned professional in her field, previously worked at Katten Muchin Rosenman LLP. Her transition to Holland & Knight marks a significant step in…
The Department of Labor (DOL) has provided guidelines to ease the path for 401(k) fiduciaries considering alternative assets, aiming to clarify the bounds within which these investments can be included in retirement plans. These guidelines are designed to help fiduciaries better understand how alternative investments, such as private equity, can be incorporated into plans responsibly….
Cigna Corp. faces continued legal scrutiny over its 401(k) management practices, as the US Supreme Court deliberates on the standards for fiduciary duty in retirement plan management. Despite Cigna’s efforts to pause the lawsuit, a federal judge has ruled the case will proceed while the high court’s decision is pending. This legal battle underscores the…
In the rapidly evolving landscape of retirement plan management, recordkeeper security guarantees are emerging as a potential source of liability for plan sponsors. As cyber threats become increasingly sophisticated, recordkeepers offer these guarantees to protect client data. However, such offerings might pose significant risks, particularly concerning fiduciary duties under the Employee Retirement Income Security Act…
The landscape of investment options within 401(k) plans is under scrutiny as new legal battles emerge over the inclusion of private equity assets. A prominent lawyer is championing a fight that could reshape the future of retirement savings. This battle highlights the complex intersection of employee benefits law and fiduciary duties, raising questions about the…