Courts/legal news and video from Pensions & Investments
Lockheed reaches agreement to settle 401(k) fee case
trueA class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.
Unions file lawsuit challenging constitutionality of Chicago pension reform law
trueFour labor unions, along with active and retired city workers, filed a lawsuit Tuesday that argues a Chicago pension reform law violates Illinois' constitutional clause that pension benefits should not be “diminished or impaired.”
Lockheed 401(k) lawsuit on hold to see if trial can be avoided
trueLockheed Martin Corp. and its workers and retirees agreed to delay a trial over its retirement plans by a day to see whether the dispute can be settled out of court.
Illinois Supreme Court to hear opening arguments on state pension law in March
trueThe Illinois Supreme Court will hear oral arguments on the constitutionality of Illinois’ pension law in March, in line with Attorney General Lisa Madigan’s request that the case be heard on an expedited basis.
Illinois attorney general seeks expedited hearing on pension law
trueIllinois Attorney General Lisa Madigan's office is seeking an expedited state Supreme Court hearing on the state's 2013 pension law after a lower court ruled last month the law was unconstitutional.
Brief filed in Supreme Court fiduciary-breach case; date set for Lockheed 401(k) trial
trueThe Supreme Court should not prevent 401(k) plan fiduciaries from being sued for more expensive investment choices made years earlier, petitioners argued in a brief filed Tuesday in Tibble et al. vs. Edison International et al.
Atlanta pension fund participants appeal lawsuit dismissal to state high court
trueA group of participants in the three Atlanta pension funds appealed the dismissal by Fulton County Superior Court of its lawsuit challenging higher employee contributions for pension fund participants.
Rhode Island pension reform lawsuit set to go to jury trial April 20
trueRhode Island Superior Court Judge Sarah Taft-Carter on Tuesday granted a request by the state's lawyers for a jury trial in the lawsuit challenging Rhode Island's 2011 pension overhaul and set a trial start date of April 20.
Dignity Health allowed to appeal church plan ruling
trueA federal judge is allowing Dignity Health to challenge his ruling that the church-affiliated defined benefit plan sponsor is covered by the Employee Retirement Income Security Act.
High court won't review fiduciary breach, stock drop cases
trueThe U.S. Supreme Court this month declined two cases involving defined contribution plans.
Illinois court to hear arguments on pension reform law's constitutionality
trueA Sangamon County Circuit Court judge was set to hear oral arguments Thursday over the constitutionally of Illinois' pension reform law passed last year.
CalPERS to go unchallenged in San Bernardino bankruptcy plan
trueSan Bernardino said it won't try to reduce its obligations to the $296 billion California Public Employees' Retirement System despite a recent ruling opening the powerful pension fund to such challenges in bankruptcy court.
Michigan pension fund sues Hanger Inc. over alleged misrepresentations
truePontiac (Mich.) General Employees Retirement System filed a securities class-action lawsuit Wednesday on behalf of shareholders of Hanger Inc., an Austin, Texas-based orthotic products and services company.
Court dismisses lawsuit challenging Atlanta pension reform
trueA Fulton County Superior Court judge dismissed on Wednesday a lawsuit challenging the constitutionality of higher employee contributions for participants in Atlanta’s three pension funds.
Kentucky Teachers' Retirement sued for not addressing 'dire' funded status
trueA high school teacher in Louisville, Ky., filed a lawsuit against the Kentucky Teachers' Retirement System, charging the Frankfort-based system with failing to adequately address its “dire” funded status.