In a recent blog post, ERISA attorney Carol Buckmann ran down some recent court decisions on these cases:
- Putnam Investments defeated a claim that putting its own funds in its 401k plan was imprudent.
- Voya was released dismissing claims based on its stable value fund.
- The case involving CVS regarding stable value funds were previously rejected.
- Emory University, the court dismissed plaintiffs’ claims that having too many funds in the menu could be a fiduciary breach.
- However, similar claims were not dismissed, however, in a case involving Duke University. The court hearing the Duke University case dismissed claims based on failure to monitor investments because plaintiffs had not specified how the monitoring process was deficient.
From the Cohen & Buckmann website:
Carol I. Buckmann is widely known as an outstanding and innovative benefits lawyer, who deals with some of the foremost issues in ERISA, including pension plan compliance, fiduciary responsibilities and investment fund formation. firstname.lastname@example.org