trendspotting July – August 2012

In Fees’ Favor

Ameriprise wins excessive fees case

Reported by

Rebecca Moore

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Compliance

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Verizon Settles 401(k) Complaint for $30M

The agreement is still pending court approval but would end 7-year court case.

Compliance

March 16th, 2022

Costco Agrees to $5.1M ERISA Case Settlement

The agreement, in which Costco admits no wrongdoing, also includes mandatory changes to the plan’s fee management process.

Compliance

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Principal Defeats Guaranteed Investment Contract Lawsuit in District Court

At the heart of the complaint were guaranteed investment contracts, a type of group annuity contract sold to retirement plans, issued by Principal to ERISA-covered retirement plan participants.