Much has been written about whether target date funds (“TDFs”) will be the next focus of ERISA litigation. For example, this article suggests that TDFs are potentially risky because (1) they may provide “advice” to participants, (2) the underlying investments may violate a plan’s investment policy statement, and (3) the glide path, or debt to … Continue reading Are target date funds really the next focus of ERISA litigation?
Since the launch of the ERISA Litigation Index, the response from the industry at large has been overwhelming. We sincerely appreciate the messages of support, as well as the numerous suggestions for additional cases. Here is a summary of the cases added in the last week: Abbott v. Lockheed Martin Corporation – Southern District of … Continue reading New Cases Added to the ERISA Litigation Index – May 2013
Case Highlights Status of the Case: This is one of the original excessive fee cases filed by Schlichter Bogard & Denton on September 11, 2006. Issues outstanding in the case are: (1) whether excessive fees paid by the Plans provide a basis for Plaintiffs’ fiduciary breach claim; (2) whether the Stable Value Fund (“SVF”) was … Continue reading Abbott v. Lockheed Martin Corporation
A good friend in the industry recently came to me with a question that every professional that deals with ERISA has heard 100 times. Why should a small business owner care about ERISA? The response below can hopefully be used to further the dialog. #1 – It’s Your Money Too. Retirement plans can be designed … Continue reading Top 5 Reasons Why a Small Business Owner Should Care About ERISA
The 7th Circuit has decided in favor of the defendant in Leimkuehler v. American United Life Insurance Co. (AUL). A copy of the decision can be found here. Previously, the district court had decided in favor of AUL finding that they were not a fiduciary to the retirement plan at issue. The district court had granted … Continue reading 7th Circuit decides in favor of Defendant in Leimkuehler v. American United Life Insurance Co.