Joseph C. Faucher

The Unlikely Intersection Between ERISA and State Laws Regulating Abortion

JOSEPH C. FAUCHER and BRIAN D. MURRAY, November 10, 2022 In the wake of the Supreme Court’s recent decision in Dobbs v. Jackson Women’s Health Org., which overturned Roe v. Wade and its progeny, many states have passed, or are in the process of passing, laws that severely restrict abortion services. Assuming no federal legislation […]

Rash of Recent Lawsuits Focus on BlackRock Indexed Target Date Options: Even Low-Cost Funds Are Being Attacked

DYLAN RUDOLPH and JOSEPH FAUCHER, September 29, 2022  Over the past several weeks, a single law firm, Miller Shah, LLP, has filed nearly a dozen lawsuits against fiduciaries of defined contribution plans that offer the BlackRock LifePath Index target date funds (“BlackRock Funds”). The cases represent a shift in approach relative to earlier waves of […]

The Supreme Court Limits Standing to Sue in Cases Involving Defined Benefit Plans

JOSEPH C. FAUCHER and BRIAN D. MURRAY, June 8, 2020   On June 1, 2020, the U.S. Supreme Court issued its decision in Thole v. U.S. Bank, N.A., 2020 WL 2814294 (2020). The majority opinion — written by Justice Kavanaugh — is likely to have a significant impact on ERISA litigation involving defined benefit plans. While […]

The Latest in Stable Value Fund Litigation

JOSEPH C. FAUCHER and BRIAN D. MURRAY, February, 2020    401(k) plan sponsors routinely offer stable value funds as conservative investment alternatives for their participants. Insurance companies that manage stable value funds invest in fixed income instruments, such as short- and intermediate-term government and corporate bonds and mortgage-backed securities. The funds are insured, so investors […]

Supreme Court Remands Outlier Stock Drop Decision

JOSEPH C. FAUCHER and DYLAN D. RUDOLPH, January 27, 2020    For many years, courts have wrestled with the standards that apply to a fiduciary’s decision to offer stock of the sponsor company as an investment option in the company’s 401(k) plan. The struggle arose from two arguably contradictory provisions in ERISA. One provision encouraged […]

U.S. Supreme Court Considering Three ERISA Cases in October Term 2019

JOSEPH C. FAUCHER and BRIAN D. MURRAY, November, 2019 The Employee Retirement Income Security Act of 1974 (ERISA) has generated numerous U.S. Supreme Court decisions since its enactment, and this year’s term is no exception. The Court is currently considering three ERISA cases involving a range of significant issues. First, in Retirement Plans Committee of […]

Arbitrability of ERISA Fiduciary Breach Cases

JOSEPH C. FAUCHER and DYLAN D. RUDOLPH, February, 2019  This article was first published by the Journal of Pension Benefits: Issues in Administration, Design, Funding, and Compliance, Autumn 2018, Vol. 26, No. 1. Although the viability of arbitration rather than litigation in ERISA fiduciary breach claims remains to be seen, there are several considerations for employers who […]

Second Circuit Breathes New Life Into Company Stock Litigation

JOSEPH C. FAUCHER and DYLAN D. RUDOLPH, February, 2019   In offering their own company stock as a plan investment option, retirement plan fiduciaries are subject to the same duty of prudence that governs the selection, retention and removal of any other investments. Before 2014, litigation against plan fiduciaries that offered their companies’ stock as an […]

The Pleading Standard Applicable to Claims Involving Private Company ESOPs: Does Dudenhoeffer Apply or Not?

JOSEPH C. FAUCHER AND DYLAN R. RUDOLPH, DECEMBER 20, 2017   This article analyzes how Dudenhoeffer applies in cases involving stock of closely held companies. It was first published by Wolters Kluwer in the Journal of Pension Benefits, Summer 2017, Vol. 24, No. 4. In our last article, “ERISA Stock Drop Cases Since Dudenhoeffer: The Pleading Standard Has Been Raised,” […]

ERISA Stock Drop Cases Since Dudenhoeffer: The Pleading Standard Has Been Raised

JOSEPH C. FAUCHER AND DYLAN R. RUDOLPH, DECEMBER 13, 2017   This article analyzes the Dudenhoeffer pleading standard and “stock drop” cases. It was first published by Wolters Kluwer in the Journal of Pension Benefits, Spring 2017, Vol. 24, No. 3. I. Introduction Before 2014, most of the federal Courts of Appeals applied a “presumption of prudence” when […]

Ninth Circuit Decision Creates Uncertainty Regarding the Burden of Proof in Benefit Claim Cases

JOSEPH C. FAUCHER, April 2016 – Citing the 1977 animated TV special It’s Your First Kiss, Charlie Brown, the Ninth Circuit Court of Appeals recently issued a decision that might have a significant impact on who has the burden of proof in ERISA benefit claims. In Estate of Barton v. ADT Security Services Pension Plan, […]