Supreme Court Grants Cert in Tibble v. Edison – BREAKING

Today, October 2, 2014, the United States Supreme Court granted the Plaintiffs’ Petition for Writ of Certiorari in Tibble v. Edison International. The list of orders from the Court can be found here. As we’ve discussed in the past, the Supreme Court requested the opinion of the Solicitor General of the United States along with the … Continue reading Supreme Court Grants Cert in Tibble v. Edison – BREAKING

Supreme Court Rejects the Moench Presumption – Vacates and Remands Fifth Third Case – BREAKING

The Supreme Court ruled this morning, June 25, 2014, that there is NO presumption of prudence for fiduciaries of ESOPs or Employee Stock Ownership Plans. In other words, the “Moench Presumption” which has been adopted nearly unanimously by every Circuit Court in the country has been unequivocally rejected. The decision was unanimous. But it was … Continue reading Supreme Court Rejects the Moench Presumption – Vacates and Remands Fifth Third Case – BREAKING

8th Circuit Denies Both Rehearing Petitions in Tussey v. ABB – Next Up is the Supreme Court

On Tuesday, May 20, 2014, the 8th Circuit Court of Appeals denied both the plaintiffs’ and ABB’s petitions for rehearing in Tussey v. ABB, Inc. Without explanation, both the original panel of three judges and the court en banc, meaning all active judges of the 8th Circuit, declined to rehear the case. As we previously laid … Continue reading 8th Circuit Denies Both Rehearing Petitions in Tussey v. ABB – Next Up is the Supreme Court

ING Settles ERISA Class Action Lawsuit Over Revenue Sharing Practices

by Thomas E. Clark Jr. – April 14, 2014 On Friday April 11, 2014 the parties in Healthcare Strategies v. ING Life Insurance and Annuity Co. filed a motion indicating they have settled their lawsuit and are now seeking approval of the district court. In total, ILIAC agreed to pay $14,950,000 in damages and agreed to … Continue reading ING Settles ERISA Class Action Lawsuit Over Revenue Sharing Practices

Risk Mitigation Starts with Retaining Demonstrated Experts

by David J. Witz AIF®, GFS™ – February 17, 2014 It is widely understood that a plan sponsor that lacks expertise is obligated to seek the advice of qualified experts to assist them in their fiduciary duties. But to what extent can a plan sponsor rely on their expert’s advice? According to Clark v. Feder Semo … Continue reading Risk Mitigation Starts with Retaining Demonstrated Experts