Updated: Northwestern and Jones Day have decided to do something about the much-criticized process of holding on-campus interviews for summer associates in August before their second year of law school.In a “bold new move,” Jones Day will visit the campus a month later, according to a Northwestern press release. The law firm intends to hold open the usual number of spots for Northwestern students so the school won’t be harmed by the delay.Law school dean David Van Zandt is backing the change as part of an effort to explore alternative ways to improve the recruitment process that are based on mutual trust. According to the press release, Van Zandt “ultimately would like the period from recruitment to full-time employment reduced significantly and universally.”Van Zandt thinks August interviews don’t benefit employers or students. In testimony earlier this year, he told NALP’s Commission on Recruiting in the Legal Profession that compressed … [Read more...] about One-Month Interview Delay Is ‘Bold New Move’ for Northwestern Law School and Jones Day
Northwestern mutual 401k
The Taliban claimed on Wednesday to have decisively defeated the Islamic State in northwestern Afghanistan, driving over 150 ISIS militants out of Jawzjan province and into the custody of Afghan government security forces. “The evil phenomenon of Daesh has completely been eliminated and people have been freed from its tortures in Jawzjan province of Afghanistan,” a Taliban spokesman said on Wednesday after a large number of ISIS fighters were taken into custody by Afghan troops. “Daesh” is a derogatory name for the Islamic State.Reuters notes that the Taliban offensive against ISIS in Jawzjan lasted for several weeks and included some U.S. airstrikes against Islamic State positions, which would very loosely make it a joint U.S.-Afghan-Taliban operation, although the Taliban insists it wanted no American help and the U.S. was trying to obstruct its assault. In addition to the 152 ISIS fighters that surrendered to Afghan security forces on Wednesday, the Taliban … [Read more...] about Taliban Claims Defeat of Islamic State in Northwestern Afghanistan
Most employers are well aware that potential liability lurks if unauthorized information is disclosed to third parties. Obvious examples would include unauthorized employee or applicant health or financial information or personal information such as social security numbers and the like.In an interesting twist, the Minnesota Supreme Court considered whether liability could be created when disclosure of requested information was incomplete.In Larson v. The Northwestern Mutual Life Insurance Company, CMInformation Specialists, Inc., Minnesota Supreme Court, No. A13-0186, October 22nd, 2014, Larson sued Northwestern Mutual for death benefits related to her deceased husband’s life insurance policy. Northwestern Mutual denied death benefits on the grounds that her husband had not been forthcoming regarding a prior heart-related condition when he completed the life insurance application years earlier. Northwestern Mutual maintained it would not have written the policy if it had … [Read more...] about Liability for Providing Too Little Information?
Over the past two weeks, a Yale Law School professor has sent letters to approximately 6,000 sponsors of 401(k) plans implying that they may have breached their fiduciary duties with respect to plan costs and investments. Many of the letters state that the sponsor’s plan has been identified as a “potentially high-cost plan,” and all of the letters we have reviewed suggest that the sponsors consider improving their fund lineup and eliminating more expensive fund offerings. The letters refer to a study prepared by the professor and a colleague based on data compiled from Forms 5500 for the year ending December 31, 2009 . Given the current focus on plan expenses by the DOL and in class action litigation, plan sponsors who received such a letter have a right to be concerned. But even those who did not need to be aware of this issue and take appropriate action. In some of the letters, the professor states: “Based on an extensive database of … [Read more...] about The “Yale Professor Letters”: What 401(k) Sponsors Need to Know (and Do) Now
In 2010, the Department of Labor released multiple sets of regulations regarding 401(k) fee disclosure rules. In addition to helping plan fiduciaries fulfill their duty to make informed decisions about the reasonableness of fees, the regulations require plan administrators to disclose investment-related expenses and information, as well as various administrative and individual expenses. Under these new rules, plan administrators must lay out—at least quarterly—all administrative expenses, including accounting and recordkeeping fees. Administrators that fail to meet this new disclosure could have liability for investment losses that participants incur when they self-direct their accounts. In addition, administrators that willfully violate their obligations could be subject to fines and injunctive relief.For self-directed 401(k) plans—which offer individual participants a broader universe of investment options—fee information is often confusing and difficult to … [Read more...] about 401(k) Fees: A Hot Topic for Plan Fiduciaries and Participants