With 401(k) litigation increasing, plan advisors and plan sponsors need to know the latest laws as well as strategies attorneys are using to sue employers and advisors. BenefitsPRO's legal coverage includes news, analysis and updates on cases.
Former Bank of America director Megan Messina, who was co-head of global structured credit products, became the latest woman to allege widespread bias at a Wall Street bank.
Like others in the litigation insurance field, this new company only pays out a policy if the case reaches trial and a jury awards no money to the plaintiff. But unlike others, it doesn't vet cases.
The new DOL fiduciary rule defines fiduciaries more broadly to include service providers such as plan sponsors. Here are facts sponsors need to know and questions they need to ask their plan advisor.
Stakeholders told the Government Accountability that guidance on formal drawdown strategies and in-plan annuities has so far failed to reassure sponsors they won't be liable.
The recent dismissal of a lawsuit against fiduciaries of Chevron Corp.s 401(k) plan raises the question of whether the decision will be a forerunner for the barrage of similar litigation pending across the country.
The judge hearing the consolidated lawsuit against the DOL's fiduciary rule will consider two briefs supporting the rule -- from the Financial Planning Coalition and the American Association for Justice.