Arkansas Teacher Pension Sues Allianz Global Investors for Fiduciary Breaches
The Arkansas Teacher Retirement System, or ATRS, has filed a lawsuit against Allianz Global Investors to restore over $774 million in losses allegedly suffered due to negligence, fiduciary and contractual breaches of duty. The suit…
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Does ERISA Apply to Me?
If you are a plan fiduciary, you must be fluent in ERISA compliance. If you are not, this is the perfect time to understand what ERISA is and how you can become compliant! What exactly is…
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Koch Industries Hit with Excessive Fee Lawsuit
Koch Industries is now charged with excessive recordkeeping fees by current and former plan participants in the Georgia-Pacific Hourly Plan. The lawsuit against Koch Industries, Koch Business Solutions, and the Koch Benefits Administrative Committee alleges…
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Colorado Governor Sets Alcohol Restrictions
Refill, please! Governor Jared Polis of Colorado announced he is reducing call hours from 2 a.m. to 10 p.m. for the next 30 days. However, this rule does not restrict restaurants and bars from operating past 10…
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Man Charged in Retirement Accounts Theft Case
An individual was recently found guilty of three counts of bank fraud and one count of aggravated identity theft. A federal grand jury charged Hoa Vo of Santa Ana, California, with siphoning hundreds of thousands…
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June Construction Employment Skyrockets
Great news for contractors! Per an analysis by the Associated General Contractors of America, or AGC, employment within the construction province has bloomed from May to June in 31 states and the District of Columbia. “The…
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Dog Walkers Back in Demand
With so many people going back to work, dog walkers are back in demand! If you are a dog walker, your state may require a dog walker license bond. Dog walking is becoming much more popular…
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Excessive Fee Suits Target CIT Choice Issues
Filed in the U.S. District Court for the Northern District of Illinois, eight former workers of Astella US LLC, a drug company, are suing plan fiduciaries of the company, criticizing the plan’s size and how…
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Is It a Fiduciary Breach not to Have Cyber Liability Insurance?
Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill in their field. They also owe a duty of loyalty to plan…
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