Over the past year, we have kept you apprised of evolving trends involving putative class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I...
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Law Alert | Michael Schloss
Forfeiture Cases – Update
Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by applying forfeitures...
District Court Grants Motion to Dismiss Forfeiture Complaint
Prior to joining the firm,...
District Court Denies Motion to Dismiss Forfeiture Complaint
Michael Schloss is a highly...
The Rise of Fiduciary Health Plan Litigation
By Stephen Wilkes and Michael Schloss According to CMS, annual health care spending in the United States reached about $4.5 trillion in 2022, 9% of which (about $405 billion) was spent on...
Department of Labor’s New Investment Advice Fiduciary Rule and Related Exemption Amendments
By Michael Schloss and Stephen Wilkes On April 25, 2024, the Department of Labor’s (DOL) new fiduciary investment advice rule, restyled as the “Retirement Security Rule”, was published in the...
Pension Risk Transfers and the Continuing Concern About Buying a Pig in a Poke
By Michael Schloss Pension risk transfers (“PRTs”) continue to make the news. And well they should. Last year alone, over $100 billion in liabilities were transferred from defined benefit pension...
Bugielski v. At&T Case Continues With Appellate Reversal
By Michael Schloss and Stephen Wilkes On August 4, 2023, a Ninth Circuit panel reversed a District Court decision in favor of AT&T - holding that AT&T breached its fiduciary duties by,...
Longstanding Internal Revenue Service Position Called into Question
By Barry Salkin, Michael Schloss and Mark Greenstein Recently, several class action lawsuits have been filed challenging the permissibility of plan language providing discretion as to how...