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TOP NEWS
Firstrust Savings Bank Can't Nix 401(k) Mismanagement Suit
By Kellie Mejdrich
A former Firstrust Savings Bank worker adequately supported his claims that employees lost millions because they had to invest a portion of their savings in the bank's underperforming proprietary fund, a Pennsylvania federal judge ruled, denying the bank's motion to dismiss the proposed Employee Retirement Income Security Act class action.
Memorandum attached |
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Auto Insurance Co. Escapes Retirement Fund Suit
By Patrick Hoff
An auto insurance company defeated a proposed class action claiming its employee retirement plan was unlawfully overinvested in a conservative default investment option, with a Michigan federal judge saying Tuesday that the suit lacked information about participants who voluntarily put money in the fund.
Opinion attached |
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