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You Have to Watch: Excessive Fees Class Actions Video

June 28, 2022

Litigation by 401(k) and 403(b) plan participants often develops into a class action, with participants alleging that plan investment fees, administrative fees, or both are too high in plans that permit participant-directed investments. Defending against these cases is expensive, even before considering settlement. Learn more by watching this video recorded by LaRue Robinson, partner at Willkie Farr & Gallagher.  


Related Content 

  • Causes of Action under ERISA (ERISA § 502) 
    Learn more about the available causes of action under the Employee Retirement Income Security Act (ERISA). Section 502, which is ERISA’s civil enforcement section, permits plan participants to enforce ERISA's standards for breach of fiduciary standards claims, denial of benefit claims, and when seeking equitable relief.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.   

  • Employee Benefits & Executive Compensation Key Legal Developments Tracker
    Stay informed on new developments.
  • Health and Welfare Plans.
    • By upholding a Mississippi abortion ban and overturning precedent that established a constitutional right to abortion, the U.S. Supreme Court’s decision in Dobbs v. Jackson Women's Health allows states to impose restrictions or bans on abortion and has upended established precedent in Roe v. Wade. This may create additional liabilities for employers related to workers' health, discrimination protections, privacy and speech. Dobbs v. Jackson Women’s Health, 597 U.S. (2022).
    • HHS issues guidance on how HIPAA permits covered entities to use remote communication technologies for audio-only telehealth. HHS website.
  • Retirement Plans.
    • The Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act was introduced in the Senate on June 7, 2022, and is scheduled for mark-up by the Senate Health, Education, Labor, and Pensions (HELP) Committee. S.4353, The Rise & Shine Act. The Act builds on SECURE 2.0 (H.R. 2954), which was introduced in the House, with some differences, that include (1) raising the I.R.C. Section 411(a)(11)(A) limit on cash-out distributions to $7,000, (2) permitting use of plan assets to pay incidental settlor expenses, (3) permitting participants to make pre-tax (matchable) contributions to emergency savings accounts ($2,500 balance maximum), and (4) permitting a greater elective deferral catch-up limit beginning at age 60.
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  • Share the Summer Associate Resource Kit: Employee Benefits & Executive Compensation with your firm’s summer associates to help them sharpen their research and writing skills, get the inside scoop on summer associate survival, and hit the ground running.
  • The Practical Guidance Journal Summer 2022 Edition features wage and hour issues related to remote and hybrid work.
  • Listen Up! The Practical Guidance Podcast features interviews with industry-leading attorneys on cutting edge issues in the law: NFTs, Cannabis, COVID-19, and more. Catch the most recent episode on the podcast platform of your choice.

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