Browsing Tag
401(k) Litigation
276 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.
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…
Another Fund Company Hit With 401(k) Fiduciary Suit
“The four most dangerous words in investing are, it’s different this time.” Sir John Templeton’s famous quip might…
401(k) Fiduciary: Look Who’s Getting Sued Now
We’re pretty sure the Vatican is next on his list. In somewhat of a shift in strategy, or rather…
The Increasing Importance of 401(k) Fiduciary Insurance Coverage
It’s critically important for plan sponsor clients of 401(k) advisors to understand what fiduciary insurance is and what it does.