Legal

Former employees had sued the grocery chain for failing to rein in recordkeeping costs from Fidelity, even though services were "routine" and did not justify the excessive costs, according to the class action lawsuit.

Since the Court took a worker-friendly approach on behalf of the University's 28,000 employees in this excessive fees suit, the final ruling could burden plan fiduciaries and open the floodgates of meritless litigation, say retirement industry groups ERIC and the Spark Institute.

The justices are now seeking input from the Department of Labor in this Home Depot case, after unanimously agreeing that the burden of proof lay with plan fiduciaries in the Cornell University excessive fee case last week.

The state attorney general and AARP have joined in on the lawsuits to attempt to recover pension funds for the 1,100 workers who saw their retirement plans wiped out.

The Protecting Employees and Retirees in Business Bankruptcies Act "would ensure that all employees, not just C-suite executives, receive the benefits they were promised," said Senator Dick Durbin.

The Department of Labor has requested an additional 60 days so that it can consider next steps in regard to two court challenges to its controversial fiduciary rule, which has been on hold since last year.