10.11.2023 02.56 CST

DOL takes another swing at redefining investment fiduciaries

DOL Tries (Again) to Redefine ERISA Investment Fiduciary

DOL Tries (Again) to Redefine ERISA Investment Fiduciary

The DOL has proposed regulations updating the definition of investment fiduciary. The proposed regulation seeks to create a uniform standard applicable to all investment advice provided to ERISA plans and to IRAs

12.07.2023 03.47 CDT

Yale takes fiduciary case to trial—and prevails

Yale Prevails in Fiduciary Suit

Yale Prevails in Fiduciary Suit

The jury found that Yale breached fiduciary duties and cause plan to pay excessive fees; at the same time the jury found that a fiduciary following a prudent process could have made the same decisions and awarded $0 in damages.

17.11.2022 11.59 CST

A round of court cases following Supreme Court’s Hughes decision places a greater burden on plaintiffs bringing fiduciary litigation.

Court of Appeals Reject Generalized Allegations

Court of Appeals Reject Generalized Allegations

Several recent decisions handed down by federal appellate courts offer some good news for plan fiduciaries. In each of these cases the courts affirmed dismissals of fiduciary litigation, concluding that the facts alleged were just not enough to support a claim. The dismissals were based on the courts’ assessment that even if the general facts alleged were true (e.g., that other plans paid less in recordkeeping or management fees or that other funds performed better) –those facts would not show that the actions taken by the fiduciaries for these specific plans were not prudent.

01.02.2022 03.04 CST

Fiduciaries are responsible to exercise prudence in all decisions—not just some.

Supreme Court Weighs in (Marginally) in Fiduciary Litigation

Supreme Court Weighs in (Marginally) in Fiduciary Litigation

The Supreme Court’s decision leaves unanswered many difficult questions facing fiduciaries.

03.07.2020 06.45 CDT

The U.S. Department of Labor has issued new proposed regulations that provide guidance on the process that plan fiduciaries should use in selecting ESG investments. In issuing the proposed regulations the DOL targets ESG funds and creates new requirements--and hurdles-to the use of such funds.

DOL Delivers Lump of Coal to ESG Funds

DOL Delivers Lump of Coal to ESG Funds

Proposed DOL regulations would add new restrictions to the use of ESG funds.

The Department of Labor has issued new proposed regulation regarding intended to guide plan fiduciaries seeking to invest in funds that utilize environmental, social and governance (“ESG”) considerations. The proposed regulations identify specific (additional) steps that fiduciaries must take in order to utilize ESG funds and would prohibit use of ESG funds within plan “default” investments.