The California wildfires were officially declared a federal disaster by the Federal Emergency Management Agency (FEMA) on January 7, 2025. Plan sponsors and participants continue to navigate the financial and administrative impacts of these events. During this unpredictable time, plan sponsors may be able to provide various forms of relief to impacted participants. Plan sponsors
A Tale of Two Decisions: District Courts Diverge on Constitutional Standing to Bring Pension Risk Transfer Claims
On March 28, 2025, two neighboring district courts issued sharply contrasting decisions on constitutional standing in lawsuits challenging pension risk transfers under the Employee Retirement Income Security Act of 1974 (“ERISA”). The United States District Court for the District of Columbia, in Camire et al. v. Alcoa USA Corp. (“Alcoa Decision”)