Pension plans in the District of Columbia and around the country have to be funded in order to fulfill their purpose. However, the Archdiocese of Newark, New Jersey, failed to do so, according to a lawsuit filed by more than 100 former employees of Saint James Hospital. As a result of the Archdiocese’s action, the plan ran out of funds in 2017, and no benefits have been paid out since.
ERISA Benefits Claims Litigation
The Coca-Cola Bottlers’ Association (CCBA) is facing an ERISA lawsuit in the US District Court for the District of Kansas. The plaintiffs are participants in the association’s multiemployer 401(k) retirement savings plan. They claim that the CCBA violated ERISA provisions by offering “limited, imprudent investment options and excessive and improper fees.”
Mental incapacity can be used as a defense for many legal issues. However, a recent federal court ruled that in cannot be used as a defense to the administrative remedy exhaustion requirements in the Employee Retirement Income Security Act of 1974.
Recently, our blog has highlighted the deluge of news surrounding the Employee Retirement Income Security Act of 1974 recently. From settlements to new Department of Labor rules, ERISA has become a hot topic in Washington, D.C., and throughout the country. Another ERISA case hitting the news involves the United Parcel Service of America, commonly known as UPS. This case demonstrates the importance of exhausting administrative remedies, and it is from the U.S. District Court for the Northern District of Georgia’s Atlanta Division.
Companies are in the business of making money. As such, they sometimes have to downsize to remain profitable. There are other cases in which a company may align itself with a new investor who wants to take the business in a different direction. It’s in instances like these that you may be doing everything you should, yet you’re still let go. Some employers who unexpectedly lay off workers may offer them severance pay to cushion the blow.
A major employer in Washington, D.C., and around the country, Salesforce is facing an ERISA lawsuit over claims that it did not properly handle its retirement program. Specifically, the plan administrators are accused of breaching their fiduciary duty to plan members and beneficiaries.
The recent US Supreme Court Ruling on the Intel ERISA Challenge stemming from a recent lawsuit regarding employee benefits has set a new framework for the establishment of “actual knowledge” in such cases. While this update out of Washington DC isn’t major news for many political and commercial entities, it does have profound implications for employers across the country and members of the retirement planning industry.
D.C. residents who have corporate pensions should take note of a recent spate of lawsuits against companies who have allegedly breached their fiduciary duties by underpaying joint and survivor annuity benefits (JSA). Recently, there was a lawsuit filed against UPS which was the latest suit to claim that a company effectively shortchanged those who elected to take their pensions as a joint and survivor annuity as opposed to a single life annuity (SLA).
Many people in the District of Columbia have benefits plans through their jobs that are governed by the Employee Retirement Income Security Act. Workers might want to be aware of a lawsuit that has been filed against Shell Oil and Fidelity for alleged violations of ERISA.
A major defense contractor with employees in Washington, D.C., and across the country is settling a class action suit linked to its retirement plan. Members of Northrop Grumman’s 401(k) plan brought a lawsuit under the Employee Retirement Income Security Act (ERISA), a law that protects employee benefits from misuse, mismanagement or violation of fiduciary duties.