Case: old-age provision / class actions (DNJ)

Benefits & Executive Comp

April 15, 2021, 8:27 p.m.

The majority of the proposed class actions by former employees of Verisk Analytics subsidiary Insurance Services Office survived a petition for dismissal in the US District Court for the New Jersey District. Insurance Services’ retirement plan committee is facing allegations that it acted unwise under ERISA when it allegedly filled the $ 1.6 billion retirement plan with expensive, actively managed mutual funds, with no options for lower costs appropriate to take into account, the court said in an unpublished statement. It also declined to oppose a challenge to the plan’s annual recording fees. However, she dismissed a fiduciary breach suit. The plaintiffs allege that …

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