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.
TPA Pays for 401(k) Participant Doc Dodge
A failure to furnish documents in a timely manner when requested by a 401(k) participant could cost the…
401(k) Allegations Grow as Wells CEO Stumpf Steps Down
Embattled Wells Fargo chairman and chief executive officer John Stumpf is stepping down effective immediately, the bank announced…
Dodd-Frank Disaster: Consumer Financial Protection Bureau Ruled Unconstitutional
A federal appeals court has ruled the Consumer Financial Protection Bureau unconstitutional, the second such legal setback for a…
401(k) Advisors: Be True to Your School
(From 401(k) Specialist, Issue 3, 2016) I think Jerome Schlichter is a “Jerky Boy.” Any Gen Xer will…
Voya Slammed in 401(k) Fee Lawsuit Over Third-Party Relationship
Voya is the target of the latest lawsuit involving excessive 401(k) fees, allegedly involving its relationship with Financial…
Chevron Beats Schlichter in 401(k) Fee Lawsuit
Score one for the little guy, who in this case is Big Oil. In a possible sign of…
Empower Sued for Another Company’s 401(k) Mistake?
Safeway’s got some rotten produce—at least according to one of its 401(k) plan participants. In a clear example…
SunTrust 401(k) Suit Gets Class Action Status
Participants in SunTrust Bank’s 401(k) plan got the okay to proceed as a class with their claims that the…
Morgan Stanley Accused of 401(k) ‘Self-Dealing’
Open architecture for clients—but what about employees? Morgan Stanley and its board were accused of mismanaging the firm’s…
More Ivy Leagues Ensnared In Fiduciary Lawsuits
If you’re a university with a defined contribution plan, be afraid—be very afraid. Columbia University and Northwestern University…