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Ninth Circuit Revives Second Excessive Fee 401(k) Plan Litigation

Proskauer's Employee Benefits & Executive Compensa

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share classes. The case is Kong v. Trader Joe’s Co., 20-56415 (9th Cir. 15, 2022).

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Crafting Joy for Workers, Hobby Lobby Announces a Wage Hike

HR Digest

Bureau of Labor Statistics shows the national median for retail workers to be around $16.19 This makes Hobby Lobby’s 2024 pay hike a whole 19% higher than the national median wage for retail workers. “A pillar of our success is taking care of our employees,” Hobby Lobby founder and CEO, David Green explained in the company post.

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District Court Declines to Dismiss 401(k) Fee Litigation Case in First Decision Post-Hughes

Proskauer's Employee Benefits & Executive Compensa

24, 2022) (discussed further here ), a Georgia federal district court held in favor of plaintiffs and declined to dismiss allegations that defendant’s 401(k) plan included costly and underperforming funds and charged excessive recordkeeping fees.

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401(k) litigation — 2 cases employers must follow

Business Management Daily

If you think you’re immune from an employee lawsuit alleging a breach of fiduciary duty over the investment choices you offer in your 401(k) plan, think again. The takeaway: Defined contribution plans such as 403(b) plans and 401(k) plans don’t run on autopilot. 401(k) plan litigation. Recap: Hughes v.

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Sixth Circuit Upholds Dismissal of Some Investment Fee and Performance Claims But Allows Mutual Fund Share Class Claim to Proceed to Discovery

Proskauer's Employee Benefits & Executive Compensa

The Sixth Circuit recently issued a mixed opinion in a 401(k) plan investment litigation. District Court for the Southern District of Ohio, alleging that the TriHealth 401(k) plan fiduciaries breached their duties of prudence and loyalty in connection with plan management. Plaintiffs were former TriHealth, Inc.

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The Supreme Court Declines to Establish Pleading Standard for Defined Contribution Plan Excessive Fee Litigation

Proskauer's Employee Benefits & Executive Compensa

By focusing on, and rejecting, the Seventh Circuit’s “investor choice” rationale, the Supreme Court avoided the need to address the various other issues that have divided lower courts wrestling with the massive surge of excessive fee and investment prudence litigation brought against the fiduciaries of 401(k) and 403(b) plans since 2015.

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How to Improve Employee Engagement and Motivation in the Retail Sector (With Examples)

Empuls

Retail businesses rely on the engagement and motivation of their employees to provide excellent customer service, maintain a positive work environment, and ultimately drive sales. However, it can be challenging to keep employees motivated and engaged in a fast-paced, high-stress retail environment.

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