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Benefits & Executive Compensation News

Pfizer Sued Over Administrative Fees in $21 Billion 401(k) Plan

A former Pfizer Inc. employee filed a proposed class action claiming the pharmaceutical giant mismanages its $21 billion 401(k) plan by overpaying for administrative and recordkeeping services.

NYC’s Financial Boss Denounces Politicization of ESG Investing

Politicized rhetoric against ESG is making it harder for investment managers to consider the financial risks posed by climate change, says the overseer of the nation’s biggest municipal pension fund.

Honeywell Remote Worker’s Widow Loses $1 Million Benefits Suit

The widow of a Honeywell International Inc. worker who died in a plane crash while working remotely during the Covid-19 pandemic lost her lawsuit seeking nearly $1 million in benefits under a business travel accident policy.

Liberty Mutual Workers Get 50,000-Person Class in 401(k) Lawsuit

Liberty Mutual Group Inc. employees who say the company’s $7 billion 401(k) plan charges excessive fees and offers underperforming investments convinced a federal judge to certify their case as a 50,000-person class action.

Anti-ESG Funds Growing, Fail to Draw Major Investor Interest

The decades-long trend of investing in funds tied to environmental, social and governance factors has a rising adversary: anti-ESG funds.


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Case: Health Care & Benefits/Benefits Denial (N.D. Cal.)

The court granted in part and denied in part a motion by Anthem Blue Cross to dismiss an employee’s ERISA and Mental Health Parity and Addiction Equity Act action challenging the denial of coverage for her minor dependent’s treatment. A.H. v. Anthem Blue Cross, 2023 BL 190944, N.D. Cal., 22-cv-07660-HSG, 6/5/23

Case: Health Care & Benefits/Long-Term Disability Benefits (E.D. Wis.)

The court denied an employee’s motion for summary judgment and granted Hartford Life & Accidents Ins. Co.'s motion for summary judgment in this action challenging the denial of long-term disability benefits for multiple sclerosis under an ERISA benefit plan. Artz v. Hartford Life & Accidents Ins. Co., 2023 BL 187187, E.D. Wis., 21-cv-0391-bhl, 6/1/23

Case: Health Care & Benefits/Reimbursement (D.N.J.)

The court granted Anthem Blue Cross Blue Shield’s motion to dismiss this action by Premier Orthopaedic Associates of Southern NJ seeking to recover costs for providing out-of-network medical treatment, for failure to state a claim. Premier Orthopaedic Assocs. of S. NJ LLC v. Anthem Blue Cross Blue Shield, 2023 BL 183300, D.N.J., 22-02407 (RMB/EAP), 5/30/23