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.
‘Reckless’ Jerry Schlichter Slammed (Again) in Empower’s Win
He is 'personally liable for Defendants’ excess costs, expenses, and attorney fees,' according to the judge
Mastermind of $300 Million Ponzi Scheme Targeting Retirees Sentenced
The defendant and his co-conspirators contacted retirees experiencing financial distress, most of whom were military veterans
Shh! Victoria’s Secret Settles 401(k) Suit
The lawsuit alleged pricey fees and investment options in the $1.6 billion 401k plan
401(k) Cyber Theft Lawsuit Highlights Recordkeeper Procedures
We need a federal solution to protect participant accounts
90-Year-Old Morgan Stanley Advisor Allegedly Shoots Business Partner
The victim was transported to a local hospital expected to survive
A VERY Scary Case of 401(k) Participant Theft
They added a bank account belonging to another individual without the victim’s knowledge or authorization
A ‘Win’ for Plan Sponsors, Fiduciaries as Excessive Fee Case Dismissal is Upheld
Sixth Circuit issues first published appellate opinion applying Supreme Court’s ERISA ruling in Hughes v. Northwestern
Reg BI Retiree Violation: SEC Charges Firm
The agency says registered reps sold ‘$13.3 million worth of high-risk bonds to retirees and other retail investors’
401(k) Market Minute: Sorry Schlichter, a New 401(k) Tort Terror Takes Over
Anything and everything you need to know about the dramatic rise in excessive 401(k) fee litigation is in…
The Dramatic Rise in Excessive 401k Fee Litigation—And Who’s Fighting It
After an unsatisfying Supreme Court decision for retirement plan fiduciaries in Hughes v. Northwestern, the U.S. Chamber of Commerce continues to fight the explosion of cases in a “cottage industry” with a unique strategy meant to get cases dismissed before they get to summary judgments or settlements. Here's an in-depth look at the issue