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Retirement Plans

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.

NCR Logo

The complaint alleges NCR made changes in the plan over time concerning the definition of credited service and the requirements for vesting in the plan. The complaint also alleges that NCR attempted to find other ways to remove its obligations to employees and retirees.

This class action lawsuit alleges that Deutsche Bank Americas Holding Corp. and other fiduciaries of the Deutsche Bank Matched Savings Plan breached duties imposed by the Employee Retirement Income Security Act (ERISA) by engaging in prohibited transactions and unlawful self-dealing with regard to selecting investments, to the the detriment of the Plan, its participants and beneficiaries.

This class action lawsuit alleges that Reliance Trust Company, Insperity and related entities breached fiduciary duties owed to participants and beneficiaries of an ERISA-covered 401(k) plan by allowing payment of unreasonable administrative and recordkeeping fees, payment of unreasonable investment management fees, using low-yielding money market funds without considering other options, failing to monitor fiduciaries and engaging in prohibited transactions between the plan and fiduciaries and the plan and parties in interest.

This class action lawsuit alleges that Metropolitan Life Insurance Company ("MetLife") breached its fiduciary duties to ERISA-covered retirement plan clients by failing to disclose key information including the manner in which it sets the internal "crediting rate" used to distribute capital investment income to their accounts.

Total Petrochemical Facility

A class action brought against Total Petrochemicals, Inc. alleges that the company breached its fiduciary duties as administrator of its employee 401(k) fund, because the company is requiring employee participants to sell company stock in the fund back to the company at a loss. The lawsuit is brought under the rules of the Employee Retirement Income Security Act (ERISA).