Some recent suits – and federal court rulings – provide some timely reminders about the importance of a prudent process and following the plan document. 

In this podcast episode, Nevin (Adams) & Fred (Reish) discuss the background, issues, and implications behind:

(1) Suits regarding reallocation of forfeitures  - offsetting employer contributions: 401(k) Forfeiture Fiduciary Breach Suit Now Targets Tetra Tech | National Association

(2) The importance of following the plan document:  DOL Successfully Sues Employer for Misuse of Forfeitures | National Association of Plan Advisors (napa-net.org)

(3) Fiduciary defendants prevail in two separate (and very different) cases because they had prudent, documented rocesses in place: Prudent Process Prevails (Again) in Proprietary Fund Suit | National Association of Plan Advisors (napa-net.org)

Breaking News: flexPATH Prevails in Suit Brought by Schlichter | National Association of Plan Advisors (napa-net.org)

(4) Participant suit challenging ESG “bias” of investment manager proxy voting clears motion to dismiss American Airlines Pilot’s 401(k) ESG Suit Clears Motion to Dismiss | National Association of Plan Advisors (napa-net.org)

UPDATE:  American Airlines Moves (Quickly) for Summary Judgment in ESG 401(k) Suit | National Association of Plan Advisors (napa-net.org)

Some recent suits – and

In this podcast episode,

(1) Suits regarding

401(k)

(2) The importance of following the plan document: 

DOL Successfully Sues Employer for Misuse

(3) Fiduciary defendants prevail in two separate (and very

Prudent Process

Breaking News: flexPATH

(4) Participant suit

American Airlines

UPDATE:  American Airlines Moves