Nevin E. Adams

The parties in one of the first university 403(b) excessive fee suits — by participant-plaintiffs represented by the Schlichter law firm — has come to terms on the eve of going to trial.  The suit, filed in August 2016, involved two plans sponsored by the University of Southern California (the... READ MORE

A $4 billion plan has struck a $4 million settlement—and “meaningful prospective relief” — in a suit that challenged the fees it paid itself as recordkeeper for its own plan. Plaintiffs Chris Carrigan, Michael Venti, and Sylvain Yelle (represented by Nichols Kaster PLLP[1] and Garrison, Levin-... READ MORE

A little more than a week ago, the U.S. Department of Labor unveiled its much-anticipated final ESG rule.  There’s a lot to unpack in that regulation (and the rest of the 236-pages that help explain its process and rationale), but here’s a few things that seem particularly important to note at the... READ MORE

A pair of excessive fee suits have been dismissed for failure to state a claim — for now. The separate suits were brought against the fiduciaries of the plans at ThedaCare, Inc. and Prevea Clinic, Inc. In the former, participant-plaintiff Glick had argued (in August 2020) that ThedaCare, Inc. and... READ MORE

Litigator Jerry Schlichter has been sued…for a breach of fiduciary duty. According to a report in the St. Louis Post-Dispatch, Schlichter (and his firm) has been sued by partner Roger Denton—the third name in St. Louis law firm Schlichter, Bogard and Denton—alleging he’s been cheated out of at... READ MORE

While it’s the celebration following a successful harvest held by the Pilgrims and members of the Wampanoag tribe in 1621 that provides most of the imagery around the holiday, Thanksgiving didn’t become a national observance until much later. Incredibly, it wasn’t marked as a national observance... READ MORE

COVID notwithstanding, the retirement plan industry has seen a record increase in court filings and litigation the past few years — and a recent session at the ASPPA Annual National Conference explored those issues and the underlying causes. The session — led by Kizzy Gaul, Esq, ERISA Attorney at... READ MORE

A recordkeeper that has sued the Labor Department based on its comments regarding cryptocurrency in defined contribution plans has told a federal judge it’s fine with dismissing its suit—if the court will hold the agency to its previous statements. Basically, the ForUsAll plaintiffs—a 401(k)... READ MORE

“…after meaningful motion practice, discovery, and arm's-length negotiations by experienced counsel, including a private mediation with an experienced neutral mediator,” the parties in an excessive fee suit have come to terms — in less than a year. The parties here — plaintiffs Trudy Clark, Donna... READ MORE