Browsing Tag
401(k) Litigation
283 posts
401(k) litigation refers to legal actions brought by plan participants against employers or plan fiduciaries, typically alleging mismanagement of retirement plans. Common claims include excessive fees, poor investment choices, failure to monitor service providers, and breaches of fiduciary duty under ERISA. These lawsuits seek to hold fiduciaries accountable for decisions that may harm participants’ retirement savings. The outcomes can lead to financial settlements, plan reforms, or precedent-setting rulings that impact fiduciary standards.
Fred Reish’s Fiduciary Update: Qualified Plan Fiduciary Summit
Faegre Drinker fiduciary expert Fred Reish once again gave Qualified Plan Fiduciary Summit attendees critical insight and bold…
401k Litigation Spike Spurs Trend in Fiduciary Outsourcing
If it seems like just about every week you hear about another lawsuit being brought against a 401(k)…
Bad ‘Actor’ Charged by SEC in $700 Million Ponzi Scheme
Talk about a box office bomb. The Securities and Exchange Commission announced Tuesday that it obtained an asset…
Evaluating Target Date Funds Is A 401(k) Fiduciary Responsibility
Surveys show that the overwhelming majority of 401(k) plans offer target date funds as part of their investment…
4 Key Steps Plan Sponsors Can Take to Guard Against 401(k) Lawsuits
2020 turned out to be another landmark year in a growing trend of ERISA class action litigation involving…
Insurer Hits Back at Excessive Fee Litigation Plaintiffs
Euclid Specialty asserts that a surge of excessive fee litigation is the result of opportunistic attorneys, not true discontent among participants.
Voya Settles with SEC for ‘Violating Its Fiduciary Duty’
The Securities and Exchange Commission announced on Monday that Voya Financial Advisors, Inc. (Voya) has agreed to settle…
401(k) ‘Fiduciaries’ Sentenced to Prison for Fraud
Vantage Benefits Administrators co-owners Jeff and Wendy Richie were sentenced to prison last week for their roles in…
Advisor Uses Underwater ‘Sea Scooter’ to Avoid Ponzi Scheme Arrest
A California financial advisor wanted for his role in an alleged $35 million Ponzi scheme went to extreme…
Abbott Defendants Dismissed from 401(k) Cybertheft Lawsuit—For Now
I previously wrote about a lawsuit filed against Abbott Labs and recordkeeper Alight by a participant whose account…