7th Circuit in Hughes v Northwestern University concluding participants in Northwestern plans plausibly pled fiduciary breach claims via allegations of excessive recordkeeping and investment management fees but dismissed claim investment options caused decision paralysis
FTX’s bankruptcy will surely provide more reasons to scrutinize plan participant access to cryptocurrency and related investments. The Ontario Teachers' Pension Plan Board invested $95 million in FTX Trading Ltd. Hopefully the pension’s financial losses will have limited impact.
Seventh Circuit answers questions 401k fee litigation cases after Supreme Court ruling Hughes v. Northwestern University. Survive motion to dismiss in Seventh Circuit, recent ruling in Albert v. Oshkosh Corp. reiterated plaintiffs must allege high fees, substandard service.
Seventh Circuit joined the Sixth in sustaining dismissal of class action in case where plaintiff challenging fees and investments of Oshkosh Corp. subsidiary’s 401k plan. Emphasizes alignment with Sixth Circuit’s reasoning CommonSpirit Health, rejected challenges plan fiduciaries
Effective January 15, 2022, the Biden Administration extended the provisions of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, .