Ballard Spahr LLP: Deadlines Revised; Prepare Now for New Rules for Retirement Plan Fiduciaries

By Kurt R. Anderson and Brian M. Pinheiro The U.S. Department of Labor has slightly delayed the deadlines on significant new affirmative obligations for fiduciaries of retirement plans subject to the Employee Retirement Income Security Act (ERISA). Although the deadlines have been pushed...

Williams Mullen: Fourth Circuit Rules That Retirement Plan Trustees’ Failures Must Have Causal Link to Plan Losses In Order to Hold Trustees Liable: Plasterers’ Local Union No 96 Pension Plan v. Pepper, No. 10-1364 (4th Cir., December 1, 2011)

BY: MARK S. THOMAS & ROBERT W. SHAW The U. S. Court of Appeals for the Fourth Circuit has ruled that retirement plan trustees cannot be held liable for failures to investigate the prudence of plan investments or to diversify those investments, unless there is a proven causal link between such...

Williams Mullen: Retirement Plans’ Fiduciaries Are Found Liable to Plans for $36.9 Million: Tussey v. ABB, Inc.

BY: MARK S. THOMAS & ROBERT W. SHAW In Tussey v. ABB, Inc. , No. 2:06-cv-04305 (Western District of Missouri, March 31, 2012) [ enhanced version available to lexis.com subscribers ], a class action case brought by present and former employees of ABB, Inc., the U. S. District Court for the Western...

Williams Mullen: Eleventh Circuit Rules That Home Depot Plan Fiduciaries Did Not Breach Their Duties Related to the Plan’s Company Stock Fund: Lanfear v. Home Depot, Inc.

BY: MARK S. THOMAS & ROBERT W. SHAW In Lanfear v. Home Depot, Inc. , No. 10-13002 (11th Cir. May 8, 2012) [ enhanced version available to lexis.com subscribers ], the U.S. Court of Appeals for the Eleventh Circuit joined five other federal circuit courts in adopting a presumption that, in the absence...

Ballard Spahr LLP: Best Practices for Plan Fiduciaries - The New 408(b)(2) Service Provider Disclosure Regulation

By Brian M. Pinheiro and Kurt R. Anderson Employers that sponsor section 401(k), 403(b), and other types of retirement plans rely on third parties to conduct the day-to-day administrative functions of these plans. Investment managers, record-keepers, consultants, and other third parties all provide...