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.
Brotherston v. Putnam’s Far Reaching 401(k) Fallout
In the case of Brotherston v. Putnam Investments, LLC, No. 17-1711 (1st Cir. 2018), the First Circuit Court…
Schlichter Sues Shell, Fidelity in 401(k) Fiduciary Breach
Jerry Schlichter has Shell Oil in his sights. The tort lawyer made famous for bringing suits against plan…
Exec Sentenced for Stealing 401(k) Funds
One impediment to retirement saving is the (often) mistaken belief that the boss will defer funds from payroll…
Former NFL Player and Merrill Rep Gets 40 Years in Retirement Fraud
A former high school and college football star who played for the NFL’s Philadelphia Eagles was sentenced in…
RIAs Top-of-Mind in SEC’s Just-Released 2020 Exam Priorities
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2020 examination priorities,…
Trader Joe’s is Trader No’s in Latest 401(k) ERISA Lawsuit
Overpaying at Trader Joe’s? Who’d of thought? The popular grocer finds itself under fire for failing to leverage the…
SEC Charges Radio Show Advisor with Defrauding Retirees
Important question—will the passage of the SECURE Act make stories like these more or less prevalent? The Securities…
Fidelity Fees Are Top 401(k) Litigation Story of 2019
Fidelity always seems to garner attention—whether it’s controversy over supposed quid pro quo or zero-fee fund options. The…
Are 401(k) Fiduciaries Correctly Benchmarking Their Funds?
If you grew up in the mid to late ‘70s, you know well the many detective movies starring…
Critically Important 401(k) Documents to Develop and Maintain
CEFEX Perspectives A series of articles on fiduciary practices leveraging the training and experience of CEFEX Analysts. Article…