Form N-CSRS Eaton Vance Floating-Rat For: Nov 30 streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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.”
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.