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Retirement Plans

Statement for 401(k) Plan

This settlement resolves a class action against ATH Holding Company, LLC, its Board of Directors, and its Pension Committee. The complaint alleged that these parties violated the Employee Retirement Income Security Act (ERISA) in their management, operation, and administration of the Anthem 401(k) Plan.

Paper with Heading "401(k) Statement"

Do you live in California and work for a company with more than 500 employees? Do you participate in its 401(k) or other retirement plan? Retirement plans for such large companies are governed by the Employee Retirement Income Security Act (ERISA), and they must meet certain requirements. However, not all of them do—and that may eventually affect how much money you have to retire on.

Pension plans have certain requirements as to payouts under federal laws. The complaint for this class action claims that Anheuser-Busch Companies, LLC (AB) did not meet these requirements, because it used an old actuarial table that does not accord with current life expectancy figures.

Clock, Pile of Coins, and Hand Putting Coins in Jar

Entities that handle retirement plans have a fiduciary duty to the plan and its participants. However, the complaint for this class action alleges that West Corporation and the Retirement Committee of the West Corporation Employee 401(k) Retirement plan did not fulfill the duties of a fiduciary because they permitted fees for the plan to be too high. 

Worker in Factory

One of the benefits unions can provide to workers is a retirement plan. However, the complaint for this class action alleges that when workers changed their union representation, the old union refused to roll accounts over to the new one. 

Fidelity Logo

Participants in 401(k) plans must often pay fees to the mutual funds they invest in. The complaint for this class action alleges that various Fidelity companies required kickbacks from the mutual funds in its retirement plans, which then increased fees or decreased profits for the funds. The complaint claims that these secret payments violate the provisions of the Employee Retirement Income Security Act (ERISA).

Folder in File of Folders Marked "Pension"

Plaintiff Robert Koch makes two claims under the Employee Retirement Income Security Act (ERISA). According to the complaint in the class action he filed, (1) he should have been paid a retroactive benefit or an actuarial increase for retiring years later than the plan’s normal retirement age, and (2) he should not have had his benefits reduced under later amendments to the retirement plan. 

Letters "ERISA" and Seal of US Department of Labor

The investments in the FirstGroup America, Inc. Retirement Savings Plan were doing fine in 2013, according to the information in the complaint for this class action. However, the complaint alleges that in September of that year, the investment options in the plan were replaced with newer, untried options which the complaint says has benefitted only the plan’s consultant, Aon Hewitt Investment Consulting, Inc. This, the complaint says, breaches fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA). 

Image of Retirement Plan

According to the complaint for this class action, Providence Health & Services has breached its fiduciary duties in connection with the Providence Health & Services 403(b) Value Plan, in violation of the Employee Retirement Income Security Act (ERISA). The complaint claims that the company has allowed the plan’s recordkeeper, Fidelity, to earn fees through a number of means that have kept plan costs higher than they need to be and have favored investments that provide revenue to Fidelity over lower-cost and better-performing alternatives.

Hamilton Township Municipal Building

The Hamilton Board of Education is making available $17 million to settle a lawsuit alleging that it breached its obligations to retirees, and in some cases to their dependents.

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