The recent decision by the United States Court of Appeals for the First Circuit in Pan American Grain Co. v. NLRB serves as a good reminder for unionized businesses contemplating layoffs: They may be obligated to bargain with the union that represents their employees not only over the effects of the layoff on employees but, possibly, the decision itself.
Continue Reading Reminder to Unionized Businesses: You May Have a Duty to Bargain With Union Over Layoff Decisions
Revenue-Sharing of 401(k) Plan Fees Did Not Breach Fiduciary Duty Under ERISA
By Porter Wright on
In the first federal appellate decision addressing the new breed of ERISA “excess fee” cases, the U.S. Court of Appeals for the Seventh Circuit last week held, in Hecker v. Deere & Co that the Employee Retirement Income Security Act (“ERISA”) does not require an employer that sponsors 401(k) plans for its employees to disclose to plan participants that the plans’ investment advisor shared revenue with the affiliated plan trustee.
Continue Reading Revenue-Sharing of 401(k) Plan Fees Did Not Breach Fiduciary Duty Under ERISA