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 of Plan Advisors (napa-net.org)

(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 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 of Plan Advisors (napa-net.org)

(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 processes 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)

Episode 4: Hacking Your Retirement

Nevin & FredBy Nevin AdamsJul 20, 2021