Browsing Tag
401(k) Litigation
269 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.
How to Avoid COVID 401k-Related Lawsuits
The COVID-19 pandemic has brought about a staggering number of changes for employers in the past few months,…
VALIC to Pay $40 Million to Settle Charges It Deceived Teachers
The Securities and Exchange Commission charged VALIC Financial Advisors (VFA) for failing to disclose to teachers and other…
Police Union Officials Accused of Retirement Plan Theft
It hurts more when done by those sworn to protect. Former state trooper Kenneth Wynder Jr., president of…
The Worst 401(k) Plan in America
Recently, one of my 401(k) plan clients for whom I serve as a fiduciary advisor was audited by…
IRS Reveals 2020 ‘Dirty Dozen’ Tax Scams
How many times have we inadvertently clicked on a link, only to realize something is amiss? The angst…
Man Accused of Stealing Boeing IDs, Looting Retirement Plan
A federal grand jury on Tuesday indicted an Orange County, California man on charges that he fraudulently obtained…
Fidelity to Pay $28.5 Million to Settle 401(k) Suit
Fidelity Investments has agreed to pay $28.5 million and change its recordkeeping practices on its own 401(k) in…
XYPN’s Michael Kitces Responds to SEC Reg BI Ruling
XY Planning Network co-founder Michael Kitces responded Sunday to the Second Circuit Court of Appeals ruling that denied…
Reg BI Challenge Rejected by Federal Appeals Court
A high-profile challenge to the SEC’s Regulation Best Interest was denied by the Second Circuit Court of Appeals…
‘Professional Fiduciaries’ Plead Guilty to 401(k) Fraud
The disturbing saga of Dallas-based Vantage Benefits Administrators is closer to a form of resolution, as husband and…