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Retirement plan litigation

Democrats introduce mandatory 401(k) plan reenrollment legislation

On February 18, 2022, Senator Kaine (D-VA) (in the Senate) and Representative Manning (D-NC) (in the House) introduced the Auto Reenroll Act of 2022, a bill that would require 401(k) plans taking effect in 2025 or after to provide for a 3-year reenrollment of non-contributing participants in order to take advantage of the automatic enrollment testing safe harbor, allow certain “permissible withdrawals,” or assert state preemption for default contributions.

401(k) Fiduciary Litigation – “Underperformance” – Current Issues

Among other issues, Linkedin involves a claim that Linkedin plan fiduciaries breached their duty of prudence by selecting/retaining an “underperforming” target date fund. This sort of claim is being brought more frequently by plaintiffs’ lawyers in 401(k) breach-of-duty-of-prudence litigation.

Retirement Policy Update – November 2021

President Biden signed into law the Infrastructure Investment and Jobs Act (IIJA). The new legislation (among many other things) extends 25-year average interest rate stabilization relief under ERISA’s DB plan minimum funding rules another five years.

401(k) fee litigation – what must a plaintiff allege to survive a motion to dismiss? Forman v. TriHealth and Hughes v. Northwestern

This term the Supreme Court is considering – for the first time – critical issues in defined contribution plan fee litigation, in Hughes v. Northwestern. In this note we discuss the recent decision (September 24, 2021) by the United States District Court for the Southern District of Ohio, dismissing plaintiffs’ claims in Forman v. TriHealth,…Read More