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.
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…
Schlichter Wins Again, University to Pay $16.75 Million
Famed fiduciary tort lawyer Jerry Schlichter has done it again—winning settlement concessions from Emory University. His firm, Schlichter…
Supreme Court Limits Fiduciary Breach Lawsuits
The U. S. Supreme Court ruled 5-4 Monday that workers can’t accuse pension plan administrators of mismanaging their…
6 Key COVID-19 Considerations for DC Plan Fiduciaries
ERISA fiduciary COVID-19 process steps include reviewing investments, fraud safeguards, and participant education for compliance.
Which 401(k) Plans Get Sued and Why?
It used to be reserved for major 401(k) plans with deep pockets, but fiduciary lawsuits against plan sponsors…
SEC Stops Alleged Senior Annuity Scam
The Securities and Exchange Commission announced an emergency filing and temporary restraining order against a registered investment advisor…
401(k) Coronavirus Concerns for Human Resources Departments
The Coronavirus/Covid-19 pandemic will have a significant and negative impact on our industry. As a business owner, you…