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.
Schlichter Hit for $1.5 Million for ‘Reckless’ Fiduciary Claims
Correction: The allegations against Great West Capital Management were not for an ERISA breach, rather a violation of…
Schlichter Targets Pentegra MEP in Latest Excessive 401k Fee Lawsuit
A lawsuit was filed earlier this week in U.S. District Court in New York City against Pentegra Retirement…
2020 on Track for Fivefold Increase in 401(k) Lawsuits
According to a new analysis from Bloomberg Law, proposed class action lawsuits claiming excessive 401k plan fees are…
401(k) Compliance Executive to Plead Guilty in College Admissions Scandal
Maybe ‘compliance’ doesn’t mean what he thinks. An insurance and private equity executive has agreed to plead guilty…
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…