Browsing Tag
401(k) Litigation
277 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.
Contractor Constructs Fraudulent $3 Million Recordkeeper Scheme
The owner of two contracting companies is facing jail time after pleading guilty to money laundering in the…
Miners Locked Out of 401(k)s Get Access to Funds
Blackjewel 401k funds are finally accessible after withheld paychecks left miners without retirement savings for months.
Former CEO Could Face 25 Years After Guilty Plea in Woodbridge Ponzi Scheme
It could be up to 25 years in prison for former Woodbridge Group of Companies CEO Robert H.…
Major Ruling in ‘Plan Sponsor as Fiduciary’ Lawsuit
The Fourth Circuit Court of Appeals has allowed a life insurance beneficiary to sue her husband's employer for breach of fiduciary duties.
Fidelity Ensnared in MIT 401(k) ‘Quid Pro Quo’ Allegations
Update: Comments from Fidelity and MIT have been added. Tort terror Jerry Schlichter is alleging bad math and…
10 Litigation Lessons for 401(k) Fiduciaries
401(k) fiduciary litigation is not going away. If you are a plan fiduciary looking to avoid (or win)…
Coal Miners Get the 401(k) Shaft
A perennial employee fear is that 401(k) deferrals will fail to be deposited in a timely fashion (if…
Fiduciary Breach Lawsuit Issues Explored: Active Versus Passive Investments
With more than 100 lawsuits filed against the fiduciaries of defined contribution retirement plans for breach of their…
How to Address the (Major) Risks of Proprietary Funds in 401(k)s
A study by the Center for Retirement Research at Boston College in May 2018[1] found that over 40…
Why 401(k) Advisors, Sponsors NEED an ERISA Attorney
References to the hilariously un-PC movie Airplane set the stage for That 401(k) Conference at Coors Field in…