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.
Regulator Galvin Investigates Wells Fargo’s 401k Rollover Recommendations
The hits keep happening. Massachusetts Secretary of Commonwealth William Galvin has opened an investigation into Wells Fargo Advisors,…
A Simple Solution to Protect 401(k) Plan Participant Assets
Vantage Benefits Administrators, a Dallas-based “TPA, recordkeeper and professional fiduciary” and subject of an FBI raid in October amid fraud…
5 (Critical) Reasons for Fiduciary Liability Insurance
“Fiduciary liability insurance—isn’t every plan required to have that?” Actually, fiduciary liability insurance is not required, but it’s…
DOL Settles with ‘Fiduciary Firm’ Over $16 Million 401k Fraud
It would seem companies with “fiduciary” in their name or professional description have trouble understanding the word. On…
Woman Sentenced for Retirement Plan Embezzlement
Oklahoma woman gets 3-year federal prison sentence for embezzling hundreds of thousands from unionized engineers' benefits plan.
Dallas-Based ‘Professional Fiduciary’ Sued After FBI Raid
Vantage Benefits Administrators, a Dallas-based “TPA, recordkeeper and professional fiduciary” and subject of an FBI raid in October…
Major Retirement Plan Player Target of 401(k) Fraud
Fraudulent retirement plan disbursements were made from Great-West Financial accounts on which the firm was acting as recordkeeper.
The Latest Targets of 401(k) Fee Lawsuits Are …
Call it the Tibble v. Edison of union retirement plans. A new front has opened in the retirement…
Wells Fargo Whacked with (Another) 401(k) Fiduciary Suit
The perennial political piñata that is Wells Fargo finds itself in the litigation line of fire once again,…
Pension ‘Twins’ Team for Better 401(k) Fiduciary Preparedness
Top firms collaborate to enhance fiduciary compliance for 401(k) advisors, addressing key concerns and ensuring better coverage.