ERISA

Federal Court Halts Key Iowa Pharmacy Law, Citing First Amendment and ERISA Violations

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Des Moines, Iowa — A federal court has temporarily blocked the enforcement of significant elements of a new state law designed to regulate pharmacy benefit managers (PBMs) and health plans in Iowa. On July 21, 2025, the U.S. District Court for the Southern District of Iowa issued a preliminary injunction, citing potential conflicts with the Employee Retirement Income Security Act of 1974 (ERISA) and the First Amendment’s protection of commercial speech. This ruling follows a temporary restraining order issued by the court on June 30, a day before the law was set to take effect. … Read more

Landmark $38.8 Million Jury Verdict Signals New Era for ERISA Plaintiffs Amid Fiduciary Breach Case Against Pentegra

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White Plains, New York — A recent jury verdict has awarded $38.8 million to participants of a 401(k) plan managed by Pentegra Services Inc., marking a significant moment for plaintiffs under the federal Employee Retirement Income Security Act (ERISA). This ruling allows participants an opportunity to take their fiduciary breach claims to a jury, a rarity in ERISA cases. On April 23, an eight-member jury unanimously found that Pentegra and the plan’s board of directors failed their fiduciary responsibilities by imposing excessive administrative fees on the retirement plan, which serves roughly 26,000 employees across various … Read more

Jury Delivers Landmark $38 Million Verdict in ERISA Case Against Pentegra for Fiduciary Breach

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New York—A jury awarded more than $38 million to a group of retirement plan participants who claimed fiduciary breaches against Pentegra’s Multiple Employer Defined Contribution Plan. This rare jury trial under the Employee Retirement Income Security Act (ERISA) concluded with findings that the plan’s fiduciaries had engaged in improper fees. The case, titled Khan et al. v. Board of Directors of Pentegra Defined Contribution Plan et al., was brought forward in the Southern District of New York in 2020. The plaintiffs—Imran Khan, Joan Bullock, and Pamela Joy Wood—argued on behalf of themselves and other plan … Read more