Annisa Chaudari

Retirement plans Anderson v. Intel Corporation Investment Policy Committee On May 22, 2025, the Ninth Circuit upheld the dismissal of a lawsuit challenging Intel’s allocation of hedge funds and private equity funds within an investment option offered in its 401(k) plan. The Ninth Circuit reaffirmed that fiduciaries may include hedge funds and private equity investments when the decision is supported by a well-documented and reasoned process.

Fringe Benefits The Tax Cuts and Jobs Act of 2017 (TCJA) temporarily eliminated income tax exclusions for qualified bicycle commuting and moving expense reimbursements. Under current law, these two benefits are set to return beginning in 2026. The OBBB would permanently eliminate both of these reimbursement exclusions.

Retirement plans Verizon Pension Risk Transfer (PRT) Litigation In late 2024, Verizon retirees filed a lawsuit alleging that pension plan fiduciaries violated their fiduciary duties when they transferred nearly $6 billion in plan liabilities by choosing the least expensive insurance option rather than the safest option.