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.
‘Plan Fiduciary’ Ordered to Pay $42 Million in Case Lasting Decades
An investigative and legal pursuit that spanned almost two decades ended last week when the Department of Labor…
Who is Responsible for 401(k) Plan Mistakes?
Who is responsible when a plan fails to apply the correct definition of compensation in determining benefits, fails…
Wanted: Consistent Standards in Fiduciary Breach Legal Proceedings
Comparing active and passive investment options, impossible benchmarks—courts have applied inconsistent and often arbitrary pleading standards to the…
Bill Blocks 401(k) Withdrawal Penalties After Natural Disasters
With hurricane season upon us, Senators Bill Cassidy, R-La., and Bob Menendez, D-N.J., introduced a bill Tuesday to expedite…
Supreme Court to Hear Northwestern Fiduciary Breach Case
Northwestern University continues its battle to clear itself of a fiduciary breach charge and accusations of excessive fees…
Majority of Small Business 401k Plans Still Pay Hidden Fees
Why don’t more small businesses offer a 401k to their employees? This might be the reason. Despite a…
Fred Reish’s Fiduciary Update: Qualified Plan Fiduciary Summit
Faegre Drinker fiduciary expert Fred Reish once again gave Qualified Plan Fiduciary Summit attendees critical insight and bold…
401k Litigation Spike Spurs Trend in Fiduciary Outsourcing
If it seems like just about every week you hear about another lawsuit being brought against a 401(k)…
Bad ‘Actor’ Charged by SEC in $700 Million Ponzi Scheme
Talk about a box office bomb. The Securities and Exchange Commission announced Tuesday that it obtained an asset…
Evaluating Target Date Funds Is A 401(k) Fiduciary Responsibility
Surveys show that the overwhelming majority of 401(k) plans offer target date funds as part of their investment…