The U.S. Supreme Court has agreed to review a U.S. Court of Appeals for the Second Circuit decision regarding the proper pleading standard for prohibited transaction claims brought under the Employee ...

In Cunningham v. Cornell University, 1 the Supreme Court unanimously held that plaintiffs who bring a prohibited transaction claim under the Employee Retirement Income Security Act of 1974, as amended ...

A case brought in 2016 against Cornell University will be reviewed for how strictly the courts should read ERISA on transactions between plan sponsors and service providers. The U.S. Supreme Court has ...

The federal judge wants the plaintiffs in the ERISA case to spell out their factual case before discovery begins.

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Assuming the plan can overcome the fiduciary considerations, there are practical considerations in how the investment is created. The proposal would require the 401 (k) plan to obtain an ownership ...

The Department of Labor has asked the Supreme Court to support former participants in two Cornell University 403(b) plans who allege the plans’ charged excessive fees and that the plans’ contracts ...

The plaintiffs in Cunningham v. Cornell University were a group of current and former Cornell University employees who participated in two defined-contribution retirement plans from 2010 to 2016. In ...

The future of the DOL’s fiduciary rule became uncertain on Thursday, after a US district court judge ordered a stay on the controversial regulation. In court documents, Judge Jeremy Kernodle stated ...

The U.S. Supreme Court on Oct. 4 announced it would hear oral arguments on an 8-year-old lawsuit by current and former members of two Cornell University 403(b) plans who allege the plans’ arrangements ...

The U.S. Supreme Court’s recent unanimous decision in Cunningham v. Cornell University has altered the litigation landscape for benefit plan fiduciaries and their insurers. Understanding those changes ...