Bishop-Bristol v. Massachusetts Mutual Life Insurance Co.

Plaintiffs brought this class action on behalf of the Arthur J. Gallagher & Company Savings and Thrift Plan and all similarly-situated employee pension benefit plans covered by the Federal Employee Retirement Income Security Act (ERISA).  Plaintiffs allege that MassMutual improperly keeps for its own benefit amounts earned on retirement plan assets invested in certain of its stable value funds above a certain percentage which Defendant has discretion to set.  The Complaint was filed in the District of Connecticut in January of 2016 but was transferred to the District of Massachusetts at Defendant’s request in April of 2016.