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Articles by Stacey Cerrone
Live From Workplace Horizons 2025: What's Hot In ERISA - Forfeiture And Tobacco Surcharge Class Actions (Video)
Welcome to a special edition of We get work®, recorded live from Workplace Horizons 2025 in New York City, Jackson Lewis's annual Labor and Employment Law Conference. Over 500 representatives from 260 companies gathered together to share valuable insights and best practices on workplace law issues impacting their business today. Here's your personal invitation to get the insights from the conference, delivered directly to you.
Supreme Court Clarifies ERISA Prohibited Transaction Pleading Standards
On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University, No. 23-1007. Background The plaintiffs in Cunningham accused Cornell's retirement plans of engaging in prohibited transactions by paying excessive fees for recordkeeping and administrative services, among other claims.
Supreme Court Clarifies ERISA Prohibited Transaction Pleading Standards | JD Supra
On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University, No. 23-1007. Background The plaintiffs in Cunningham accused Cornell’s retirement plans of engaging in prohibited transactions by paying excessive fees for recordkeeping and administrative services, among other claims.
Supreme Court Clarifies ERISA Prohibited Transaction Pleading Standards
On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University, No. 23-1007. Background The plaintiffs in Cunningham accused Cornell’s retirement plans of engaging in prohibited transactions by paying excessive fees for recordkeeping and administrative services, among other claims.
Fifth Circuit Remands ESG Rule In First ERISA Test Case Post-Chevron
In its recent decision in State of Utah v. Su, the Fifth Circuit remanded a challenge to the Department of Labor's (DOL) environmental, social, and governance (ESG) rule for investing in defined contribution retirement plans after the Supreme Court's recent decision in Loper Bright Enterprises v. Raimondo.
Fifth Circuit Remands ESG Rule in First ERISA Test Case Post-Chevron | JD Supra
In its recent decision in State of Utah v. Su, the Fifth Circuit remanded a challenge to the Department of Labor’s (DOL) environmental, social, and governance (ESG) rule for investing in defined contribution retirement plans after the Supreme Court’s recent decision in Loper Bright Enterprises v. Raimondo.
Evonik Corporation Beats 401(k) Plan Challenge with Evidence of Rigorous Fiduciary Process | JD Supra
A New Jersey federal district court recently granted summary judgment in defendants’ favor in an ERISA excessive fee case accusing Evonik’s 401(k) plan fiduciaries of keeping imprudent investments in the plan and of allowing participants to pay excessive recordkeeping fees. Harris, et al. v. Evonik Corp., et al., No. 20-02202, 2024 U.S. Dist. LEXIS _____ (D.N.J. Jun. 28, 2024).
Evonik Corporation Beats 401(k) Plan Challenge With Evidence Of Rigorous Fiduciary Process
A New Jersey federal district court recently granted summary judgment in defendants' favor in an ERISA excessive fee case accusing Evonik's 401(k) plan fiduciaries of keeping imprudent investments in the plan and of allowing participants to pay excessive recordkeeping fees. Harris, et al. v. Evonik Corp., et al., No. 20-02202, 2024 U.S. Dist. LEXIS _____ (D.N.J. Jun. 28, 2024).
Stacey C.S. Cerrone Inducted As Fellow of American College of Employee Benefits Counsel
NEW ORLEANS, LA (December 1, 2023) Nationwide employment law firm Jackson Lewis P.C. is pleased to announce Stacey C.S. Cerrone has been inducted as a Fellow into the American College of Employee Benefits Counsel (ACEBC). Fellows have demonstrated a sustained commitment to the development and pursuit of public awareness and understanding of the law of employee benefits and have at least 20 years of experience as an employee benefits practitioner.
Fourth Circuit Affirms Aon’s Trial Victory in Investment Suit | JD Supra
The Fourth Circuit affirmed Aon Hewitt Investment Consulting’s trial victory in a 250,000-member class action suit alleging that Aon breached ERISA’s fiduciary duties. Aon was initially the Lowe’s 401(k) plan’s investment advisor and later was engaged as the plan’s 3(38) delegated fiduciary. The plaintiffs’ fiduciary breach claims alleged that, after being retained as a delegated fiduciary, Aon transferred plan assets to an Aon fund with an unproven track record that underperformed.
Fourth Circuit Affirms Aon’s Trial Victory in Investment Suit
The Fourth Circuit affirmed Aon Hewitt Investment Consulting’s trial victory in a 250,000-member class action suit alleging that Aon breached ERISA’s fiduciary duties. Aon was initially the Lowe’s 401(k) plan’s investment advisor and later was engaged as the plan’s 3(38) delegated fiduciary. The plaintiffs’ fiduciary breach claims alleged that, after being retained as a delegated fiduciary, Aon transferred plan assets to an Aon fund with an unproven track record that underperformed.
Third Circuit Rejects Mandatory Arbitration Clause in ESOP | JD Supra
The Third Circuit refused to enforce a mandatory arbitration clause with a class action waiver in an ESOP, finding that the class action waiver deprived participants of statutory rights. The ESOP plan added the clause at issue in 2017. When plaintiffs filed a putative class action in 2019 asserting fiduciary breach and prohibited transaction claims, Defendants moved to dismiss on the grounds that the plan document required arbitration.
Third Circuit Rejects Mandatory Arbitration Clause in ESOP
The Third Circuit refused to enforce a mandatory arbitration clause with a class action waiver in an ESOP, finding that the class action waiver deprived participants of statutory rights. The ESOP plan added the clause at issue in 2017. When plaintiffs filed a putative class action in 2019 asserting fiduciary breach and prohibited transaction claims, Defendants moved to dismiss on the grounds that the plan document required arbitration.
Third Circuit Rejects Mandatory Arbitration Clause in ESOP
The Third Circuit refused to enforce a mandatory arbitration clause with a class action waiver in an ESOP, finding that the class action waiver deprived participants of statutory rights. The ESOP plan added the clause at issue in 2017. When plaintiffs filed a putative class action in 2019 asserting fiduciary breach and prohibited transaction claims, Defendants moved to dismiss on the grounds that the plan document required arbitration.
Third Circuit Rejects Mandatory Arbitration Clause in ESOP
Lindsey H. Chopin is a principal in the New Orleans, Louisiana, office of Jackson Lewis P.C. and a member of the firm’s ERISA Complex Class Action, Employee Benefits and Class Action groups. Lindsey focuses her practice on the defense of complex ERISA class-actions filed against public and private single employer ERISA plan sponsors and fiduciaries, as well as multi-employer plans and fiduciaries and ERISA plan services providers.
Ads Related to Health Plan Fees Raise Questions on the Next Excessive Fee Suit Targets | JD Supra
Is a new wave of ERISA fiduciary litigation targeting group health plan sponsors on the horizon? There have already been a few examples of health plan fee cases, such as claims challenging the billing practice between insurers and their subcontractors or challenging commissions paid in connection with multi-employer plans.
Ads Related to Health Plan Fees Raise Questions on the Next Excessive Fee Suit Targets
Lindsey H. Chopin is a principal in the New Orleans, Louisiana, office of Jackson Lewis P.C. and a member of the firm’s ERISA Complex Class Action, Employee Benefits and Class Action groups. Lindsey focuses her practice on the defense of complex ERISA class-actions filed against public and private single employer ERISA plan sponsors and fiduciaries, as well as multi-employer plans and fiduciaries and ERISA plan services providers.
Ads Related to Health Plan Fees Raise Questions on the Next Excessive Fee Suit Targets
Is a new wave of ERISA fiduciary litigation targeting group health plan sponsors on the horizon? There have already been a few examples of health plan fee cases, such as claims challenging the billing practice between insurers and their subcontractors or challenging commissions paid in connection with multi-employer plans.
District Court of Connecticut Grants Certification of Class of More Than 11,000, But Only for Retrospective Relief
Four former employees of Eversource Energy Company recently obtained partial class certification of their claims. However, the District of Connecticut ruled that because the named plaintiffs are all former participants in the plan, they could not seek prospective relief, and only granted certification with respect to claims for retrospective relief.
Rehearing Requested on Second Circuit Decision Requiring Plan Participants to End Employment Before Seeking Retirement Benefits
On April 15, 2022, participants in the U.A. Plumbers & Steamfitters Local 22 Pension Fund filed a petition for panel and en banc rehearing of the Second Circuit’s ruling in favor of the pension plan’s decision to retroactively require plan participants to choose between either ceasing their post-retirement employment or foregoing early retirement benefits. See Metzgar v. U.A. Plumbers & Steamfitters Local No. 22 Pension Fund, No. 20-3791, 2022 U.S. App. LEXIS 5466 (2d Cir. Mar.
In this issue of the Class Action Trends Report, Jackson Lewis attorneys look back at class action developments in 2021, including COVID-19 vaccine mandate litigation, significant procedural decisions, wage and hour suits, and the continuing rise of cases brought under the California Private Attorneys General Act and Illinois Biometric Information Privacy Act, among other litigation trends.
Class Action Trends Report Winter 2022 | JD Supra
In this issue of the Class Action Trends Report, Jackson Lewis attorneys look back at class action developments in 2021, including COVID-19 vaccine mandate litigation, significant procedural decisions, wage and hour suits, and the continuing rise of cases brought under the California Private Attorneys General Act and Illinois Biometric Information Privacy Act, among other litigation trends. Please see full Report below for more information.
Parties, Start Your Engines: Snap Removals And Defeating Incomplete Diversity | JD Supra
In what is known as a “snap” removal, a non-resident defendant may be able to remove a state court case to federal court based on diversity jurisdiction, despite resident defendant(s) being named in the suit. To effect a snap removal, the non-resident defendant must file removal papers before the plaintiff can effect service on any resident or forum defendants.
ERISA 401(k) Performance and Fee Litigation Dismissed for Failure to Provide Comparable Benchmark
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
ERISA 401(k) Performance And Fee Litigation Dismissed For Failure To Provide Comparable Benchmark | JD Supra
The District Court for the Southern District of Iowa recently dismissed an ERISA putative class action lawsuit challenging 401(k) performance and fees after plan participants failed to identify appropriate benchmarks in their complaint.
Administrative Exhaustion Is Required Even When Not Mentioned In Plan | JD Supra
The Eastern District of Missouri recently examined whether administrative exhaustion is a prerequisite to an ERISA suit alleging a wrongful denial of employee benefits, where the benefit plan’s language did not include an administrative appeal procedure and the denial letter included only permissive language stating that the claimant “may request a review” of the denial.
Administrative Exhaustion Is Required Even When Not Mentioned in Plan
The Eastern District of Missouri recently examined whether administrative exhaustion is a prerequisite to an ERISA suit alleging a wrongful denial of employee benefits, where the benefit plan’s language did not include an administrative appeal procedure and the denial letter included only permissive language stating that the claimant “may request a review” of the denial.
U.S. Bancorp Defeats Class Certification In Challenge To Early Retirement Benefits | JD Supra
The District Court of Minnesota declined to certify a class of pensioners seeking to challenge their plan’s early retirement calculations. ERISA requires early retirement benefits to be actuarially equivalent to what participants would receive at their normal retirement age.
U.S. Bancorp Defeats Class Certification in Challenge to Early Retirement Benefits
The District Court of Minnesota declined to certify a class of pensioners seeking to challenge their plan’s early retirement calculations. ERISA requires early retirement benefits to be actuarially equivalent to what participants would receive at their normal retirement age.
Third Circuit to Consider Class Certification Issues Percolating in ERISA Fee Litigation
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
Third Circuit To Consider Class Certification Issues Percolating In ERISA Fee Litigation | JD Supra
The Third Circuit will review a Pennsylvania district court’s decision to certify a 60,000+ person class in an ERISA fiduciary breach lawsuit claiming mismanagement of a defined contribution plan’s investments and recordkeeping fees. This appeal queues up guidance on a hotly litigated issue in recent ERISA cases: can defined contribution plan participants challenge the prudence and loyalty of retaining a plan investment option they never invested in?
California District Court Again Dismisses ERISA Lawsuit Challenging 401(k) Plan’s Fees
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
California District Court Again Dismisses ERISA Lawsuit Challenging 401(k) Plan’s Fees | JD Supra
The Northern District of California dismissed with prejudice a lawsuit alleging a 401(k) plan’s sponsor and fiduciaries included unreasonably expensive funds in the plan’s investment lineup. The court previously dismissed the plaintiffs’ claims without prejudice, finding their complaint failed to plead facts from which the court could infer the defendants breached their fiduciary duties. In response, the plaintiffs filed an amended complaint.
Failure To Identify Specific Viable Alternative Action Dooms Stock Drop Claim | JD Supra
The Ninth Circuit recently affirmed the dismissal of an ERISA employer-stock drop putative class action, holding that the plaintiff’s failure to identify specific, viable alternative actions that plan fiduciaries should have taken instead of the challenged actions was fatal to her claim.
Ninth Circuit: ERISA Does Not Bar Forum Selection Clauses | JD Supra
Aligning itself with other circuit courts that have ruled on the issue, the Ninth Circuit recently held that ERISA does not bar forum selection clauses in benefit plans. The background of the case and the Ninth Circuit’s ruling are straightforward. Plaintiff filed a putative class action in the Northern District of California challenging the management of Wells Fargo’s 401(k) plan. Wells Fargo moved to transfer venue to the District of Minnesota under the 401(k) plan’s forum selection clause.
Ninth Circuit: ERISA Does Not Bar Forum Selection Clauses
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
Ninth Circuit: ERISA Does Not Bar Forum Selection Clauses
Aligning itself with other circuit courts that have ruled on the issue, the Ninth Circuit recently held that ERISA does not bar forum selection clauses in benefit plans. The background of the case and the Ninth Circuit’s ruling are straightforward. Plaintiff filed a putative class action in the Northern District of California challenging the management of Wells Fargo’s 401(k) plan. Wells Fargo moved to transfer venue to the District of Minnesota under the 401(k) plan’s forum selection clause.
Second Circuit: Investment Advisor Not Covered By Plaintiff’s Employment Arbitration Agreement | JD Supra
The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its alleged mismanagement of a profit-sharing plan sponsored by DST Systems, Inc. Cooper v. Ruane Cunniff & Goldfarb Inc., No. 17-2805 (2d Cir. March 4, 2021).
U.S. Supreme Court: Courts Can Review Railroad Retirement Board’s Refusal to Reopen Claims | Lexology
In a 5-4 decision, the U.S. Supreme Court has ruled that federal courts can review decisions by the U.S. Railroad Retirement Board denying claimants’ requests to reopen prior benefits denials. Salinas v. U.S. R.R. Ret. Bd., No. 19-199 (Feb. 3, 2021).
BlackRock 401(k) Plan Class Action Headed For Trial | JD Supra
A class action alleging that BlackRock entities favored their own proprietary funds when selecting investment options for BlackRock’s 401(k) Plan is headed for trial after Judge Haywood S. Gilliam, Jr. denied both parties’ motions for summary judgment on January 12, 2021. Baird v. BlackRock Inst’l. Trust Co., No. 17-1892 (N.D. Cal. Jan. 12, 2021). BlackRock sought summary judgment on Plaintiffs’ claims for breaches of fiduciary duty. The court denied the motion for several reasons.
BlackRock 401(k) Plan Class Action Headed to 9th Circuit
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
BlackRock 401(k) Plan Class Action Headed for Trial
A class action alleging that BlackRock entities favored their own proprietary funds when selecting investment options for BlackRock’s 401(k) Plan is headed for trial after Judge Haywood S. Gilliam, Jr. denied both parties’ motions for summary judgment on January 12, 2021. Baird v. BlackRock Inst’l. Trust Co., No. 17-1892 (N.D. Cal. Jan. 12, 2021). BlackRock sought summary judgment on Plaintiffs’ claims for breaches of fiduciary duty. The court denied the motion for several reasons.
U.S. Supreme Court: State Law Regulating Pharmacy Benefit Managers is Not Preempted by ERISA
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
U.S. Supreme Court: State Law Regulating Pharmacy Benefit Managers Is Not Preempted By ERISA | JD Supra
An Arkansas law regulating pharmacy benefit managers’ (PBMs) generic drug reimbursement rates, and affecting the cost of prescription drugs provided under ERISA-governed benefit plans and the administration of those plans, is not preempted by ERISA, the U.S. Supreme Court has held unanimously. Rutledge v. Pharmaceutical Care Management Association, No. 18-540, 2020 U.S. LEXIS 5988 (Dec. 10, 2020).
U.S. Supreme Court to Take on Affordable Care Act … Again
November 04, 2020 Upcoming: Free Online TCEQ Air Compliance Workshops for Oil and Gas... by: Madeleine Boyer and Laura L. LaValle California Voters Approve the California Privacy Rights Act by: Laura E. Jehl and Austin Mooney ERISA: The Erosion of State Health Regulation Rights by: Lynsey Mitchel and Matthew J. Goldman China’s State Administration for Market Regulation Releases Updated... by: Aaron Wininger ONC Delays Timeframes for Information Blocking and Changes To Health...
U.S. Supreme Court To Take On Affordable Care Act … Again | JD Supra
This term, the U.S. Supreme Court returns to a challenge to the Affordable Care Act (ACA). In the consolidated cases of California v. Texas (No. 19-840) and Texas v. California (No. 19-1019), the Court will consider whether a group of states and private individuals have standing to challenge the ACA.
Supreme Court to Consider Appealability of Railroad Retirement Board Decisions | Lexology
The U.S. Supreme Court will hear the second of several ERISA disputes this term, the first issue we discussed as the term began, October 5, 2020. Monday, November 2, 2020, the Justices will consider whether the Railroad Retirement Board’s denial of a claimant’s request to open a prior benefits decision is a “final decision” reviewable by the courts in Salinas v. U.S. R.R. Ret. Bd. (No. 19-999). The issue before the Court is a straightforward question of statutory interpretation.
Supreme Court to Consider Appealability of Railroad Retirement Board Decisions
The U.S. Supreme Court will hear the second of several ERISA disputes this term, the first issue we discussed as the term began, October 5, 2020. Monday, November 2, 2020, the Justices will consider whether the Railroad Retirement Board’s denial of a claimant’s request to open a prior benefits decision is a “final decision” reviewable by the courts in Salinas v. U.S. R.R. Ret. Bd. (No. 19-999). The issue before the Court is a straightforward question of statutory interpretation.
U.S. Supreme Court To Hear ERISA Preemption Dispute | JD Supra
On October 6, 2020, the U.S. Supreme Court will hear argument on ERISA’s preemptive effect on a state law regulating pharmacy benefit managers’ (PBMs) generic drug reimbursement rates in Rutledge v. Pharmaceutical Care Management Association (No. 18-540). The case considers regulation of PBMs under Arkansas law, but because a majority of states have enacted similar laws, the decision in Rutledge will extend beyond Arkansas.
U.S. Supreme Court to Hear ERISA Preemption Dispute
Monday, October 5, 2020 On October 6, 2020, the U.S. Supreme Court will hear argument on ERISA’s preemptive effect on a state law regulating pharmacy benefit managers’ (PBMs) generic drug reimbursement rates in Rutledge v. Pharmaceutical Care Management Association (No. 18-540). The case considers regulation of PBMs under Arkansas law, but because a majority of states have enacted similar laws, the decision in Rutledge will extend beyond Arkansas.
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