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The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

Seattle-based Weyerhaeuser Company employees filed a class action lawsuit over the transfer of plan assets to Athene Annuity & Life Assurance, alleging a breach of fiduciary duty, according to law firm Schlichter Bogard.

In the last year, Lockheed Martin, AT&T, Alcoa and GE have been sued by employees in class action lawsuits over the PRT deals made with Athene, alleging the firm "breached their fiduciary duty," says law firm Schlichter Bogard.

Companies need to fully understand what the plan fees are so they can be "fully transparent" with their workers, said law firm Schlichter Bogard, which is representing plaintiffs suing TIAA for steering them into high-fee investments.

"A short, narrow opinion that offers very little in the way of clear cut guidance for 401k plan fiduciaries," one analysis put it.

The most expensive 401(k) and other retirement plan settlements included millions paid for this landmark excessive fee case.

Will scandals lead to change?

Lead attorney for plaintiffs in the MIT plan also warned about the practice of cross-selling and stressed importance of RFP process.