5th Circuit Won’t Revive ERISA Prohibited Transaction Case Over Surrender Fee

Mealey's (December 19, 2023, 1:25 PM EST) -- NEW ORLEANS — Upholding dismissal of a putative class suit over a 401(k) plan service provider’s imposition of a surrender fee, a Fifth Circuit U.S. Court of Appeals panel rejected arguments that the U.S. Department of Labor (DOL) advanced in an amicus curiae brief regarding when an entity is a party in interest under the Employee Retirement Income Security Act....

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