Dezelan v. Voya Retirement Insurance and Annuity Company

Plaintiff brought this class action in the United States District Court for the District of Connecticut on behalf of the Cedars-Sinai Medical Center 403(b) Retirement Plan and all similarly-situated employee pension benefit plans covered by the Federal Employee Retirement Income Security Act (ERISA).  Plaintiffs allege that Voya improperly keeps for its own benefit amounts earned on retirement plan assets invested in certain of its stable value funds without disclosing these profits to plan fiduciaries and investors.  On July 6, 2017, the Court granted Defendant’s motion to dismiss the original complaint, but permitted Plaintiff to file a new complaint, which she did on August 3, 2017.  However, the Court also granted Defendants’ Motion to Strike the amended complaint in August of 2018.