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Category Archives: ERISA

April 06

ERISA

ERISA Fiduciary Litigation in 2025 Signals Continued Growth Heading into 2026

2025 was a busy year for ERISA fiduciary litigation, with over 155 new cases concerning breaches of fiduciary duty filed. Large 401(k) plans continued to be a primary focus of ERISA class actions, particularly defined contribution plans holding between $250 and $750 million in assets. Continuing trends observed in recent years, plaintiffs brought allegations pertaining to excessive fees, imprudent investment decisions, and failure to monitor service providers. 2025 also saw an increase in newer claims under ERISA, such as allegations regarding the imprudent or disloyal use of plan forfeitures. 2025 Trends in ERISA Fiduciary Litigation Defined Contribution Plans continued to be the primary focus of ERISA fiduciary class actions in 2025, followed by Health Plans and Employee…

March 05

ERISA

Stifel 401(k) Lawsuit Highlights ERISA Fiduciary Duties and Retirement Plan Risk

On February 20, 2026, Plaintiff Amber Striplin filed a $134 million class action lawsuit against Stifel Financial Corp. (“Stifel”) in the United States District Court for the Eastern District of Missouri. Striplin, a Stifel employee, alleges that the fiduciaries of the Stifel Financial Profit Sharing 401(k) Plan (the “Plan”) allowed underperforming funds to remain in the Plan for over a decade, costing the Plan participants invested in those funds hundreds of millions of dollars in foregone retirement savings appreciation. Specifically, the lawsuit claims the Plan fiduciaries violated the duty of prudence under the Employee…

November 09

ERISA

The Fine Line Between ERISA Wellness Incentives and Penalties

Even wellness programs with good intentions can violate the Employee Retirement Income Security Act (“ERISA”) if incentives cross the line into coercive penalties. As employers increasingly use weight loss challenges, step goals, or health screenings to promote wellness, questions arise about whether these programs comply with ERISA, the Affordable Care Act (“ACA”), and the Health Insurance Portability and Accountability Act (“HIPAA”) nondiscrimination rules. Miller Shah LLP advises employers, plan administrators, and employees on ERISA compliance and represents workers…

October 21

ERISA

Smoking Surcharges Under Fire: ERISA Compliance Risks in Wellness Programs

A recent Employee Retirement Income Security Act (“ERISA”) case has placed employer wellness program surcharges under scrutiny, alleging that penalties imposed on health plans for employees using tobacco products violate federal benefits laws. The decision highlights growing wellness program compliance risks under ERISA for employers that use financial incentives or penalties tied to employee health habits. What are Surcharges, and How do Employers Use Them? Smoking and Wellness Surcharges in Health Plans A tobacco surcharge is an extra fee on health insurance premiums for employees using…

August 21

ERISA

Nokia Hit with $100M 401(k) Lawsuit Over Alleged ERISA Violation

On July 18, 2025, two former employees (“Plaintiffs”) of Nokia of America Corporation (“Nokia” or the “Company”) filed a class action lawsuit against the Company, as well as Nokia’s Administrative Oversight Committee, Pension & Benefit Investment Committee, Employee Benefits Committee, and the Nokia Investment Management Corporation (“NIMCO”) in New Jersey federal court. The suit alleges that Nokia mismanaged the Nokia Savings/401(K) Plan (the “Plan”) by investing in at least two…

May 29

ERISA

Supreme Court Clarifies Burden of Proof in ERISA Prohibited Transaction Claims

Supreme Court Issues Landmark ERISA Decision in Cunningham v. Cornell On April 17, 2025, the United States Supreme Court issued its long-awaited decision in Cunningham et al. v. Cornell University et al., case number 23-1007. The Court reversed the Second Circuit’s prior ruling and held that plaintiffs asserting claims under the Employee Retirement Income Security Act of 1974 (“ERISA”) for prohibited transactions are not required to plead the inapplicability of…

December 06

ERISA

Miller Shah LLP Finalizes $3.5 Million Settlement with IQVIA Inc.

On December 5, 2024, the District Court for the Middle District of North Carolina finalized a $3.5 million settlement against IQVIA Inc. (“IQVIA”), a healthcare technology company, resolving allegations that it mismanaged its $1.13 billion IQVIA 401(k) Plan (“Plan”). The class action lawsuit, brought on behalf of the Plan and approximately 9,000 employees, alleged breaches of fiduciary duty under the Employee Retirement Income Security Act (“ERISA”). Plaintiffs Darya Dearing, Janice…

December 05

ERISA

Miller Shah LLP Appeals Quest ERISA Dismissal to Third Circuit

On December 4, 2024, Plaintiffs Lawanda Lasha House Johnson, Rebecca A. Rice, and Shalamar Curtis (“Plaintiffs”) filed an appeal with the Third Circuit on behalf of Quest Diagnostic Inc. (“Quest”) employees to revisit their lawsuit alleging mismanagement of the Profit Sharing Plan of Quest Diagnostics (“Plan”). The proposed class, comprising of current and former employees, claims the District Court prematurely ruled in Quest’s favor without properly addressing significant factual disputes…

October 11

ERISA

Supreme Court Grants Cert in ERISA Case

On October 4, 2024, the Supreme Court granted certiorari in a class-action lawsuit filed by employees of Cornell University (“Cornell”), alleging mismanagement of their retirement funds. The case presents an opportunity for the Court to address a Circuit split concerning the elements required to bring a “prohibited transactions” claim under ERISA. The Employee Retirement Income Security Act of 1974 (“ERISA”) is the federal law governing private industry retirement plans, with…

September 05

ERISA

Miller Shah LLP Finalized $11.8 Million Settlement with MedStar Health Inc.

On September 5, 2024, Judge James K. Bredar of a Maryland federal court approved an $11.8 million settlement reached in a class action lawsuit against MedStar Health, Inc. (“MedStar”), the Board of Directors of MedStar Health, Inc. (“Board”), and the MedStar Health, Inc. Retirement Savings Plan Committee (“Committee” and collectively, “Defendants”). The settlement resolves allegations that MedStar mismanaged the MedStar Health, Inc. Retirement Savings Plan (“Plan”), to the detriment of…

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