Wittman v. New York Life Insurance Company

Plaintiffs brought this class action on behalf of the Voith Retirement Savings Plan for Bargaining Unit Employees and all similarly-situated employee pension benefit plans covered by the Federal Employee Retirement Income Security Act (ERISA).  Plaintiffs allege that New York Life 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 U.S. District Court for the Southern District of New York in December of 2015.  The action was dismissed without prejudice on November 29, 2016.