ERISA – CORPaTH

21 04, 2021

DC Plans More Vulnerable to ERISA Litigation Than DB Plans

CORPaTH2021-05-13T08:05:23-07:00April 21st, 2021|Categories: ERISA|Tags: DB Plans, DC Plans, erisa|

Source: AI-CIO.com Defined contribution (DC) retirement plans are far more susceptible to Employee Retirement Income Security Act (ERISA) lawsuits than defined benefit (DB) plans, lawyers argue in a lawsuit filed against The Wesco Distribution Inc. Retirement Savings Plan. “The potential for imprudence is much greater in defined contribution plans than in defined benefit plans,” said the lawsuit. The complaint, which alleges Wesco neglected its fiduciary duties by allowing excessive fees, said that companies with DC plans are much more [...]

Labor Department names new ERISA Advisory Council members

CORPaTH2021-01-20T11:18:16-08:00January 20th, 2021|Categories: ERISA|Tags: dept of labor, erisa|

The Department of Labor on Tuesday appointed five members to its ERISA Advisory Council. It also announced that Glenn Butash will remain chairman of the 15-member council in 2021, a position he's held since July, and James Haubrock will serve as vice chairman. Mr. Butash is managing counsel for U.S. compensation and benefits at Nokia Corp., where he provides legal advice in connection with the design and operation of large, complex defined benefit, defined contribution and welfare benefit plans. [...]

DOL proposal could hurt prospects for ESG in ERISA plans

CORPaTH2020-06-26T14:53:25-07:00June 26th, 2020|Categories: ERISA, ESG|Tags: dept of labor, erisa, esg|

A proposal from the Department of Labor stipulates that ERISA plan fiduciaries cannot invest in ESG vehicles that sacrifice investment returns or take on additional risk, which sources say could curb environmental, social and governance investments. "Private employer-sponsored retirement plans are not vehicles for furthering social goals or policy objectives that are not in the financial interest of the plan," Labor Secretary Eugene Scalia said in a news release. "Rather, ERISA plans should be managed with unwavering focus on [...]