Search Results for: ERISA

The US Department of Labor (DOL) Tuesday announced a final rule that allows Employee Retirement Income Security Act (ERISA) plan fiduciaries to consider climate change and other social and governance factors when they select retirement investments and exercise shareholder rights. The final rule is “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” In response [...]

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The Supreme Court of the United States (SCOTUS) Monday denied a petition concerning federal preemption of a local law requiring employee health benefits. The petition was brought by the ERISA Industry Committee (ERIC) against the City of Seattle over an ordinance requiring large hotel chains to give their employees $1,375 a month in insurance benefits [...]

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The US Supreme Court decided Monday in an 8-0 judgment, with Justice Barret recused, that the Court of Appeals for the Seventh Circuit Court erred in its Hughes v. Northwestern University decision. The court ordered the appellate court’s judgment to be vacated and remanded the case for further proceedings. The case concerns the Employee Retirement [...]

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The Supreme Court heard oral arguments Monday in Patel v. Garland (“the immigration case”) asking whether a federal court can review a decision by an agency within the Department of Justice ruling that a person is ineligible for permanent residency and in Hughes v. Northwestern University (“the fiduciary case”) requesting clarification regarding the fiduciary obligation [...]

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The US Supreme Court on Thursday unanimously upheld an Arkansas law setting prescription drug reimbursement rates for pharmacies. The decision in Rutledge v. Pharmaceutical Care Management Association was made 8-0, with Justice Clarence Thomas issuing a concurring opinion and Justice Amy Coney Barrett not taking part in the decision. The 2015 Arkansas law requires pharmacy [...]

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US Supreme Court heard rescheduled oral arguments by phone on Tuesday for the second day of the 2020 term. The first case before the court, Rutledge v. Pharmaceutical Care Management Association, looked at a 2015 Arkansas law, Act 900. The Act regulates Pharmacy Benefits Managers (PBMs), the intermediaries between health insurance plans and pharmacies, to [...]

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The US Supreme Court held Monday in Thole v. US Bank that plaintiffs who have not experienced an actual financial injury cannot sue pension fund managers. In this case, plaintiffs James Thole and Sherry Smith sued US Bank under the Employee Retirement Income Security Act of 1974 (ERISA) to allege that the defendants violated the [...]

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The US Supreme Court ruled unanimously Wednesday in Intel Corp. Investment Policy Committee v. Sulyma that a plaintiff in a retirement plan fiduciary lawsuit must have “actual knowledge” of an alleged fiduciary breach to trigger a shorter three-year statute of limitations under the Employee Retirement Income Security Act of 1974 (ERISA), rather than the six-year [...]

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The US Supreme Court on Tuesday issued a per curiam opinion in Retirement Plans Committee of IBM v. Jander, “leaving it to the Second Circuit whether to determine their merits, taking such action as it deems appropriate” regarding arguments raised in the petitioners’ brief. IBM offered employees the opportunity to invest in the company through [...]

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The US Supreme Court agreed to hear three new cases on Friday. These cases address protection of individuals using retirement and health plans from the private industry, a review of statutory interpretation regarding judicial review of Railroad Retirement Board decisions, and a determination of whether a government debt exception is legal under a law protecting [...]

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