Category Archives: ERIsA Liability
Second Circuit’s Citigroup Decision Endorses Presumption of Prudence, Upholds Dismissal of Disclosure Claims
Posted this week at the National Law Review by Morgan, Lewis & Bockius LLP regarding the decision that employer stock in a 401(k) plan is subject to a “presumption of prudence” that a plaintiff alleging fiduciary breach: In a much-anticipated decision, the U.S. Court of Appeals for the Second Circuit joined five other circuits in ruling that …
It’s Not Easy Being Green: Understanding and Avoiding the Pitfalls of Green Marketing
Recently posted in the National Law Review an article by Anne E. Viner of Much Shelist Denenberg Ament & Rubenstein P.C. regarding the idenfication of “green” products and services: A current trend among businesses is to identify their products and services as “green,” “environmentally safe,” “ozone friendly” or otherwise good for the environment. Companies do …
Seventh Circuit Reverses Summary Judgment In Kraft ERISA “Excessive Fees” Case
Recently posted by Nancy G. Ross and Chris C. Scheithauer of McDermott Will & Emery details of the recent 7th Circuit reversal of summary judgment involving Kraft Food’s 401(k) plan: On April 11, 2011, a divided Seventh Circuit panel reversed summary judgment in favor of Kraft Foods Global, Inc. in a class action ERISA breach …
Is Your Company’s Retirement Plan in Need of a Spring Cleaning?
Recently posted at the National Law Review by Alyssa D. Dowse and Timothy C. McDonald of von Briesen & Roper, S.C. - about whether your company’s retirement plan(s) need a little updating: The Internal Revenue Service (the “IRS”) recently issued a list of retirement plan items that employers should review this year. This Update briefly highlights those items and provides …
Can a 401(k) Plan Member Recover Damages to His Individual Account Caused By a Plan Administrator’s Breach of Fiduciary Duty?
Recently posted at the National Law Review by guest blogger David B. Cosgrove – a question many unhappy 401(k) plans members may have pondered: An ERISA Plaintiff cannot seek individual monetary damages for a Plan Administrator’s breach of fiduciary duty to the plan. Importantly, however, seeking damages on behalf of the 401(k) Plan as a result of a Plaintiff’s …
The Wrongful Distribution of Retirement Benefits to a Plan Fiduciary is Prohibited by ERISA Section 406(b)
This week’s featured bloggers at the National Law Review are from Cosgrove Law L.L.C. In the ‘who knew’ category from Kurt J. Schafers: the wrongful distribution of plan benefits to a Plan Fiduciary. Although the distribution of benefits to a plan participant is not a “transaction” as that term is used in Section 406(a), the wrongful distribution …
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