ERISA

Stanley Black & Decker Retirement Plan Breach of Fiduciary Duties Class Action

This class action concerns the Stanley Black & Decker Retirement Account Plan, bringing suit under the Employee Retirement Income Security Act (ERISA). The complaint alleges that Stanley Black & Decker, Inc., its Board of Trustees, and the plan’s Administrative Committee breached their fiduciary duties to the plan in causing it to pay excessive recordkeeping fees  Read more

Citi Retirement Plan Poorly-Performing BlackRock TDFs ERISA Class Action

Defined contribution plans, such as 401(k) plans, have become the main form of retirement savings in the US. Unfortunately, companies do not have the same incentives to look after these plans as they did with defined benefit plans. The complaint for this class action alleges that Citigroup, Inc., its Board of Trustees, and the Administrative  Read more

Wintrust Financial Corp. Retirement Plan Imprudent Investments Class Action

The Wintrust Financial Corp. Retirement Savings Plan is a defined-contribution plan. This class action brings suit against Wintrust Financial Corp., its Board of Trustees, and the plan’s Administrative Committee, alleging that these fiduciaries breached their duties to the plan, to make sure that expenses were fair and reasonable and that investment options were prudent and  Read more

North Memorial Health 401(k) Plan Breach of Fiduciary Duties Class Action

This class action concerns the North Memorial Health 401(k) Plan, alleging that the parties responsible for it—North Memorial Health Care and the Board of Directors of North Memorial Health Care and its members—breached their fiduciary duties to the plan under the Employee Retirement Income Security Act of 1974 (ERISA). The complaint alleges that in choosing  Read more

Nova Southeastern University 401(k) Breach of Fiduciary Duties Class Action

Did Nova Southeastern University, Inc. breach its fiduciary duties in its management of the University’s 401(k) plan for its faculty and staff? The complaint alleges that the university chose investments with poor performance and high-cost share classes, and paid excessive fees for recordkeeping and administration.  Read more

Boston College Retirement Plans High Costs, Low Returns ERISA Class Action

Boston College has two retirement plans, the Boston College 401(k) Retirement Plan I and the Boston College 401(k) Retirement Plan II. The complaint for this class action alleges that those responsible for the plans—the Trustees of Boston College and the Plan Investment Committee—have breach their fiduciary duties and mismanaged the plans in a way that  Read more

MSCS, Matrix Prohibited Transactions in Retirement Plans ERISA Class Action

This class action is about prohibited transactions involving mutual fund fees taken from two retirement plans, the MBA Engineering, Inc. Employees 401(k) Plan and the MBA Engineering, Inc. Cash Balance Plan. The complaint alleges that the fees removed from the plan total at least $40 million and possibly as much as $400 million and that  Read more

Adventist Health Plan Must Meet ERISA Requirements, Says Class Action

When is a company’s employee health plan governed by the Employee Retirement Income Security Act (ERISA)? Adventist Health System West (AHW), which does business as Adventist Health offers the Adventist Health Employee Medical Plan—Engaged!, which it claims is a church plan and does not fall under ERISA. The complaint brings suit against the complaint, the  Read more

JPMorgan Chase Retirement Plan “Wear Away” of Benefits Class Action

How would you feel if you discovered that for the last fifteen of your thirty-plus years with a company, you had not accrued any retirement benefits? This class action brings suit against the JPMorgan Chase US Benefits Executive, the Board of Directors of JPMorgan Chase Bank, JP Morgan Chase & Company, and the JPMorgan Chase  Read more

Molina Retirement Plan Expenses and Performance Class Action

This class action sues Molina Healthcare, Inc., claiming it did not fulfill its fiduciary duties to the Molina Salary Savings Plan, its company retirement plan, which is governed by the Employee Retirement Income Security Act (ERISA). The complaint claims that the plan offered untested target date funds as investment options and that Molina did not  Read more