According to plaintiffs, the plan’s small size and lack of expertise allowed Nationwide to assess an unreasonable asset-based fee for recordkeeping and administration.
The lawsuit says Waddell & Reed forced its own 401(k) plan participants to choose among an investment lineup almost exclusively made up of funds managed by the company...
In a new final rule, the Department of Labor removed its final rules regarding the ERISA safe harbor of government-run plans for private-sector workers.
The lawsuit challenged fees Voya Retirement Advisors received when using Financial Engines to provide investment advice to retirement plan participants.
Content, context and presentation are now the important factors in determining whether a particular activity represents fiduciary advice—but that could change.
The underlying lawsuit accused the firm of failing to monitor an affiliate charged with overseeing a stable value fund offered as an investment option in 401(k) plans for...
Putnam was found not to have breached its duty of loyalty to its 401(k) plan participants, and the court found the plaintiffs did not prove a loss suffered...
In addition to alleging the St. Louis-based university allowed the plan to charge excessive fees, the lawsuit alleges the plan's loan program violated ERISA prohibited transaction rules.
Selecting, retaining and failing to remove expensive group-affiliated investment options generated significant revenue for Capital Group and its subsidiaries, the lawsuit says.