Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The Trump Administration Policies for Retirement Plans, below.
Continue reading “ERISA Moments Ep. 31: The Trump Administration Policies for Retirement Plans”
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, DOL Investigations: Priorities for 2025, below.
Continue reading “ERISA Moments Ep. 30: DOL Investigations: Priorities for 2025”
In Singh v. Deloitte LLP, et al., No. 23-1108, 2024 WL 5049345 (2d Cir. Dec. 10, 2024), the Second Circuit Court of Appeals upheld a district court’s dismissal of a complaint alleging that plan fiduciaries caused an ERISA-governed 401(k) plan to pay excessive recordkeeping fees. This article discusses the Singh case and its impact on excessive-fee claims.
As more and more employers face lawsuits alleging that their 401(k) plans paid excessive recordkeeping and administrative fees, courts continue to grapple with the standard required for plaintiffs to plead plausible claims that survive motions to dismiss. The Second Circuit is the most recent Court of Appeals to adopt the “meaningful benchmark” pleading standard for claims alleging excessive recordkeeping or administrative fees, and it is among the most stringent pleading standards yet.
Continue reading “Second Circuit Adopts “Meaningful Benchmark” Pleading Standard in ERISA Cases”
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The 2024 Election and What it Means for Retirement Policy, below.
Continue reading “ERISA Moments Ep. 28: The 2024 Election and What it Means for Retirement Policy”
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The SEC Staff Speaks Out on Standards for Rollover Recommendations, below.
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, DOL’s Rules Are Stayed: What Remains in Their Place?, below.
Continue reading “ERISA Moments Ep. 26: DOL’s Rules Are Stayed: What Remains in Their Place?”
In an August 2, 2024, decision in Pizarro v. The Home Depot, Inc., No. 22-13643 (11th Cir. Aug. 2, 2024), the Eleventh Circuit reaffirmed its position — and the position of the majority of federal circuit courts to address the issue — on the burden of proving loss causation for purposes of an ERISA claim for fiduciary breach. Loss causation is an element of a plaintiff’s claim for damages because of a breach of fiduciary duty, and the plaintiff bears the burden of proving causation of loss.
Pizarro involves claims by a putative class of Home Depot employees (Plaintiffs) who participated in Home Depot’s 401(k) plan. Plaintiffs alleged that the plan had excessive fees and imprudent investment options, but the United States District Court for the Northern District of Georgia granted summary judgment in Home Depot’s favor because Plaintiffs could not prove that they suffered any losses caused by a fiduciary’s alleged breach. To make such a showing, Plaintiffs would have to prove that a hypothetical “prudent” fiduciary would have not made the same choices that the defendants made. The District Court held that Home Depot’s investment decisions were “objectively prudent,” whether or not those decisions resulted from the right process, and thus Plaintiffs could not prove damages.
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The Fiduciary Rules and the Impact on Advisors and Insurance Agents, below.
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The Final Fiduciary Regulation and Exemptions Explained, below.
Continue reading “ERISA Moments Ep. 24: The Final Fiduciary Regulation and Exemptions Explained”
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, ERISA Litigation Odds and Ends: ESG, Crypto and Forfeitures, below.
Continue reading “ERISA Moments Ep. 23: ERISA Litigation Odds and Ends: ESG, Crypto and Forfeitures”
