Aon, Alight Win Judgment in Hospital PRT Lawsuit
A federal judge found Aon Hewitt acted prudently, after hearing testimony about the firm’s investment actions and contractual obligations.
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A federal judge has ordered a judgment in favor of Aon Hewitt Investment Consulting and Alight Solutions in a case alleging breaches of Employee Retirement Income Security Act (ERISA) fiduciary duties related to pension risk transfer (PRT) transactions.
Following a bench trial, Judge James S. Moody Jr. of the U.S. District Court for the Middle District of Florida said in his order that the defendants “acted prudently and reasonably in administrating, investing and terminating the pension plan.” In addition, he said Alight Solutions is “entitled to judgment in its favor as a matter of law because the portion of the business it purchased from Hewitt Associates LLC did not perform any portion of the contract with plaintiffs and did not inherit any associated liability.”
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Lowe s Strikes Deal To Exit Sweeping ERISA Case
Law360 (April 23, 2021, 5:32 PM EDT) Lowe s has reached a deal with a class of nearly 250,000 current and former employees who say the home improvement company and its investment consultant mismanaged their retirement savings, leaving Aon Hewitt Investment Consulting as the sole remaining defendant.
A one-line docket entry in North Carolina federal court Thursday said the class had settled with Lowe s and its administrative committee in North Carolina federal court. But the workers federal benefits law claims against plan manager Aon Hewitt Investment Consulting Inc. are still in play, and slated to go to trial in June.
Judge allows most charges against Astellas, Aon to proceed
BLOOMBERG NEWS
A federal court judge in Chicago rejected some of the requests for dismissal by Astellas US LLC and Aon regarding ERISA complaints by participants in an Astellas 401(k) plan.
U.S. District Judge Ronald A. Guzman on April 13 delivered the complex, divided decision some dismissal requests were granted, others were denied in the case of Miller et al. vs. Astellas US LLC et al.
The participants sued in July 2020, alleging ERISA violations against Astellas, a pharmaceutical company in Northbrook, Ill., and what was then called Aon Hewitt Investment Consulting, the sponsor s investment adviser.
Judge issues split decision for Schneider Electric, Aon in ERISA case
Schneider Electric building and offices.
A federal court judge in Boston has issued a divided opinion regarding allegations by participants in a Schneider Electric Holdings Inc. retirement plan that plan fiduciaries and its former investment consultant violated their ERISA obligations.
Schneider and the investment consultant, Aon Hewitt Investment Consulting now known as Aon, filed separate motions to dismiss the lawsuit after the initial complaint was filed in May 2020.
On March 26, U.S. District Judge Nathaniel M. Gorton supported requests by both defendants to dismiss certain complaints, but he rejected their requests to dismiss other allegations of ERISA violations in the case of Turner et al. vs. Schneider Electric Holdings Inc. et al.
Magistrate Judge Says Aon, Alight Can t Evade PRT Lawsuit plansponsor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from plansponsor.com Daily Mail and Mail on Sunday newspapers.