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The lawsuit, like many 401(k) lawsuits filed by employees over the last year, challenged HP’s decision to use “forfeitures” to reduce employer contributions rather than to pay administrative costs.

Ken Paxton's opinion puts Texas on a collision course with employer groups that say ERISA should shield the plans from the state rules.

The class action lawsuit, filed on behalf of 60,000 plan participants, alleges the airline failed to replace a “chronically underperforming” large-cap fund holding over $2 billion in retirement plan assets for 15 years – and “still continues to this day.”

The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

The banking giant has been hit with a class action lawsuit, alleging it used retirement plan contributions from departing employees to “offset its employer contributions” rather than reducing plan administrative fees, violating ERISA.

On Wednesday, the justices were divided on the class action lawsuit on behalf of 28,000 Cornell University employees accusing the school's retirement plans of paying excessive recordkeeping fees.

Trillion dollar asset manager Northern Trust has also quit Climate Action 100+, an investor-led initiative of financial institutions, as pushback over ESG investing continues.

The ERISA Industry Committee sues to stop new Biden administration mental health regulations issued in 2024, saying they are “arbitrary and capricious” and employers cannot certify compliance “due to vague, undefined terms."