Foundation Publication Search Results

These summaries were compiled from Foundation Publications Search, a database of articles, research reports and books published by the International Foundation and the International Society of Certified Employee Benefit Specialists.


Claims Alleging Excessive Fees and Prohibited Transactions Are Dismissed.
Benefits Magazine; v55 no7 pp 69-70 Jul 2018; journal article

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Abstract : The U.S. District Court for the Northern District of Illinois grants the motion by the defendant consulting service to dismiss a complaint by plaintiff retirement plan participants alleging that the defendants breached their fiduciary duties by receiving excessive fees and engaging in transactions prohibited by the Employee Retirement Income Security Act of 1974 (ERISA).
[0201049]

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MIT Employees May Proceed With Breach-of-Fiduciary-Duty Claims.
Benefits Quarterly; v34 no3 pp 54-55 3rd Qtr 2018; journal article

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Abstract : Massachusetts Institute of Technology (MIT) employees survived a motion to dismiss and can move forward on some of their fiduciary-breach claims of acting imprudently in failing to secure competitive bids for retirement plan recordkeeping services and in choosing higher cost investment options for the plan.
[0201076]

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Other Recent Decisions.
Benefits Magazine; v55 no7 pp 74-77 Jul 2018; journal article

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Abstract : Summarizes cases on fiduciary duties, disability benefits and benefit denial.
[0201052]

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Plan Participant Fails to Allege Recordkeeper Was a Fiduciary.
Benefits Magazine; v55 no7 pp 67-68 Jul 2018; journal article

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Abstract : The U.S. District Court for the Southern District of New York denies the plaintiff 401(k) plan participant's motion for leave to file an amended complaint against the defendant recordkeeper after finding that the plaintiff failed to state a claim.
[0201048]

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401(k) Plan Participants Lack Evidence to Support Breach Claims.
Benefits Magazine; v55 no6 pp 55, 58 Jun 2018; journal article

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Abstract : The U.S. Court of Appeals for the First Circuit affirms the district court conclusion that the plaintiff class of 401(k) plan participants failed to adduce evidence necesary to proceed to trial with their claims that the defendant fiduciary breached its duties of loyalty and prudence under the Employee Retirement Income Security Act of 1974 (ERISA).
[0201004]

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Allegations Regarding Proprietary Funds Survive Motion to Dismiss.
Benefits Magazine; v55 no6 pp 68-69 Jun 2018; journal article

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Abstract : The U.S. District Court for the District of Kansas denies the motion by the defendant investment management company to dismiss claims by the plaintiff retirement plan participant alleging breaches of fiduciary duty and prohibited transactions.
[0201011]

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Benefit Trends: Multiemployer Retirement Plan Landscape: Defined Contribution Plans.
Held, Justin; Benefits Magazine; v55 no6 pp 8-9 Jun 2018; journal article

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Abstract : "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2006-2015)" shows that net case flows for defined contribution pension plans have shown modest improvement over the past decade and that the average account balance is holding steady. This study is based on Form 5500 Annual Reports filed with the U.S. Department of Labor.
[0200994]

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Dismissal of 401(k) Plan Participants' Stock Drop Claims Affirmed.
Benefits Magazine; v55 no6 pp 54, 57 Jun 2018; journal article

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Abstract : The U.S. Court of Appeals for the Fifth Circuit affirms a district court dismissal of plaintiff retirement plan participants' claims that their defendant employer and plan administrator breached fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) by allowing the plaintiffs to invest in employer stock despite the employer descending into bankruptcy.
[0201003]

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Quick Look: Multiemployer DC Plan Landscape.
Benefits Magazine; v55 no6 p 10 Jun 2018; journal article

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Abstract : Illustrates some of the findings of the survey "The Multiemployer Retirement Plan Landscape: A Ten-Year Look (2006-2015)" based on Form 5500 Annual Reports filed with the U.S. Department of Labor.
[0200995]

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Service Provider Not A Fiduciary When Negotiating or Withdrawing Fees.
Benefits Magazine; v55 no6 pp 56-57 Jun 2018; journal article

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Abstract : The U.S. Court of Appeals for the Ninth Circuit reverses the district court decision in which it denied the motion by the defendant 401(k) plan administrators to dismiss a complaint by plaintiff plan participants alleging that the defendant third-party administrator breached its fiduciary duties when negotiating with employers about providing services to the plan and later when withdrawing predetermined fees from plan funds.
[0201005]

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Target-Date Funds: Key Considerations and a Process for Fiduciaries.
Fandetti, Marc A.; Benefits Magazine; v55 no5 pp 22-27 May 2018; journal article

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Abstract : Target-date funds (TDFs) are a popular investment option in 401(k) plans, but some offerings may not be appropriate for fund participants. The author contends that plan sponsors should more closely evaluate their TDFs, using equity exposure, management style and fees as major parameters.
[0200966]

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Court Finds Insurance Company Is Not a Plan Fiduciary.
Benefits Magazine; v55 no3 pp 69-70 Mar 2018; journal article

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Abstract : The U.S. District Court for the District of Nebraska grants the motion by the defendant life insurance company to dismiss a complaint by the plaintiff 401(k) plan participant after finding that the defendant is not a fiduciary with respect to the alleged breach of fiduciary duty.
[0200908]

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Other Recent Decisions.
Benefits Magazine; v55 no3 pp 73-77 Mar 2018; journal article

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Abstract : Summarizes cases on benefit litigation, fiduciary duties, benefit denial and severance.
[0200911]

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Prudence Claims Advance in University Retirement Plan Dispute.
Benefits Magazine; v55 no3 pp 65, 67 Mar 2018; journal article

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Abstract : The U.S. District Court for the District of Massachusetts, with two exceptions, accepts and adopts a magistrate judge's report and recommendation regarding allegations by plaintiff 401(k) plan participants that the defendant university and plan sponsor was involved in an improper relationship with the plan recordkeeper and primary investment provider.
[0200906]

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Complaint Alleging Excessive Recordkeeping Fees Survives Dismissal.
Benefits Magazine; v55 no2 pp 53, 55 Feb 2018; journal article

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Abstract : The U.S. District Court for the District of Minnesota denies the motion by the defendant medical facility corporation to dismiss claims of breach of fiduciary duty concerning recordkeeping fees. The claims were brought by plaintiff retirement plan participants.
[0200879]

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Stock Challenge Dismissed Even After Bank Scandal.
Benefits Magazine; v55 no2 pp 63, 65 Feb 2018; journal article

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Abstract : The U.S. District Court for the District of Minnesota grants the motion by the defendant bank to dismiss complaints by plaintiff retirement plan participants concerning fiduciary breaches related to the recent announcement of unethical sales practices and the resulting drop in stock prices.
[0200884]

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The Universe of the University Cases: A New Approach to ERISA Enforcement.
Solomon, Todd; Rickard, Emily; Nemeth, J. Christian; Benefits Magazine; v55 no2 pp 44-49 Feb 2018; journal article

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Abstract : Class action lawsuits alleging fiduciary breaches have been filed against 16 private universities with regard to their Section 403(b) plans. The authors explain the implications of these lawsuits for defined contribution plan sponsors.
[0200876]

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Best Practices for TDFs and Managed Accounts.
Verdeyen, Holly K.; Scherer, Andrew; Benefits Quarterly; v34 no1 pp 28-31 1st Qtr 2018; journal article

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Abstract : Defined contribution (DC) plans are the primary retirement planning vehicle for U.S. workers, and target-date funds (TDFs) are currently popular for many DC participants. However, no two TDFs are the same and, as a result, returns have varied widely. For plan sponsors to help participants pursue their retirement income goals and help reduce the risk of litigation, they need to understand the methodology behind TDFs, the right questions to ask of providers and the framework the Department of Labor (DOL) has provided for selecting and monitoring TDFs. Managed accounts also are emerging as a qualified default investment alternative (QDIA) that offers participants a more customized asset allocation than is available in a TDF. Managed accounts are aimed at improving the likelihood that participants will reach their retirement income goals, but they come with their own important considerations for plan sponsors. This article is designed to help plan sponsors that want to understand the best practices for evaluating and managing TDFs and managed accounts in order to offer the most beneficial DC plan possible to their employees.
[0200915]

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Court Grants Class Certification in 401(k) Challenge.
Benefits Magazine; v55 no1 pp 46, 48 Jan 2018; journal article

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Abstract : The U.S. District Court for the Southern District of New York grants the motion by the plaintiff current and former 401(k) plan participants for class certification in a putative class action alleging that the defendant employer and plan fiduciaries violated the Employee Retirement Income Security Act of 1974 (ERISA).
[0200833]

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Participants Win Class Certification in 401(k) Plan Challenge.
Benefits Magazine; v55 no1 pp 47-48 Jan 2018; journal article

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Abstract : The U.S. District Court for the Middle District Court of North Carolina grants the plaintiff 401(k) plan participants' motion for class certification as they advance claims that the defendant plan fiduciary breached its duties under the Employee Retirement Income Security Act of 1974 (ERISA).
[0200834]

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Recordkeeping, Active Management Claims Move Forward.
Benefits Magazine; v55 no1 pp 54, 56 Jan 2018; journal article

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Abstract : The U.S. District Court for the Southern District of New York dismisses the plaintiff retirees’ Employee Retirement Income Security Act of 1974 (ERISA) claims against the defendant university retirement plans regarding large investment lineups and retail share classes but advances claims regarding multiple recordkeepers and actively managed funds.
[0200838]

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Select Claims by University 401(k) Plan Participants Move Forward.
Benefits Magazine; v55 no1 pp 49-50 Jan 2018; journal article

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Abstract : The U.S. District Court for the District of Massachusetts allows in part and denies in part the motion by the defendant university to dismiss claims by plaintiff 401(k) plan participants alleging a breach of fiduciary duties and prohibited transactions under the Employee Retirement Income Security Act of 1974 (ERISA).
[0200835]

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401(k) Participant Not an Adequate Representative of Absent Plan Participants.
Benefits Magazine; v54 n12 pp54, 55 Dec 2017; journal article

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Abstract : The U.S. District Court for the Eastern District of Pennsylvania grants the motions for judgment on the pleadings by the defendant former employers and retirement plan against the plaintiff former construction worker.
[0200800]

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Employees Fail to Allege Sufficient Facts in Stock Loss Lawsuit.
Benefits Magazine; v54 n12 pp 59, 61 Dec 2017; journal article

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Abstract : The U.S. District Court for the Western District of Oklahoma grants the motion by the defendant natural gas company to dismiss consolidated class action claims by plaintiff 401(k) plan participants concerning stock losses after the plaintiffs failed to meet special circumstances required by a recent U.S. Supreme Court decision.
[0200803]

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Fiduciaries Liable for Breaching Duties on 401(k) Investments.
Benefits Magazine; v54 n12 pp 48, 50 Dec 2017; journal article

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Abstract : The U.S. District Court for the Central District of California finds the defendant public utility holding company is liable for breaching its fiduciary duty to monitor plan investments under the Employee Retirement Income Security Act of 1974 (ERISA) by not replacing retail-class mutual fund shares with lower cost institutional-class shares.
[0200796]

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