Small 401(k) Faces Lawsuit Over Lack of Investment Diversification
The lawsuit notes that the plan's fiduciary ignored multiple suggestions to hire a professional to manage the plan's investments.
Tag: 401k
Second Circuit Affirms Fiduciary Liability for Poor Diversification
A concise example of summary judgement published by the 2nd U.S. Circuit Court underscores retirement plan fiduciaries’ absolute duty to diversify and carefully administer participant assets.
Does Brokerage Window Require Company Stock Offering Registration?
The SEC recently weighed in on whether offering a brokerage window in a 401(k) through which investments in employer securities can be made involves an offer of employer...
Alpine Trust & Investment Group Adopts PCS 401(k) Platform
The newly announced partnership between Alpine and PCS is an example of how recordkeeping providers are offering white-labeled platform options to support brand-conscious advisers.
PANC 2016: Top Trends
Two leading executives discussed the new fiduciary rule, retirement readiness, income and more.
Consistent 401(k) Savers More Likely to Reach Savings Goal
"By studying the experience of workers who participate consistently across several years, this study shows more accurately the extent to which steady, paycheck-by-paycheck saving and compounding investment returns...
401(k) Participants Value Digital Planning Tools
A study found general education sessions are ineffective, and employees said digital tools would get them more engaged in their retirement planning.
Bankrupt 401(k) Fiduciary Must Still Restore Losses to Plan
The DOL obtained a court order requiring the fiduciary of William Bowman and Associates Inc.401(k) plan to continue making installment payments for plan losses due to a fiduciary...
401(k) Plan Fiduciaries on the Hook for More Than $200K
A defunct company and its 401(k) plan trustee have been ordered to restore contributions that weren't remitted to the plan as well as interest on contributions.
ERISA Suit Against Chevron DC Plan Tossed
An Employee Retirement Income Security Act (ERISA) lawsuit filed by participants in a Chevron Corporation defined contribution (DC) plan has been dismissed after a hearing before the U.S....
ERISA Lawsuit Calls Out TDF Fees and Revenue-Sharing
A participant in Safeway Inc.’s 401(k) plan is suing the plan sponsor, its benefits committee and its recordkeeper for breaching their fiduciary duties and/or engaging in ERISA prohibited...
New SEC Rule Impacts Adviser Reporting
The SEC adopted new final rules to enhance information reported by registered investment advisers under Form ADV.
Lawsuit Accuses Morgan Stanley of Self-Dealing in 401(k)
The lawsuit also says there were investment options other than proprietary options that underperformed and charged excessive fees.
ETF-Based Plan Platform Rolled Out by Capital One
Spark 401k also provides access to low-cost ETFs that keep investment expenses less than 1%, helping employees further grow their nest egg.
More 401(k) Plans Adopting 6% as the Default Deferral Rate
The industry standard of 3% is finally being challenged
Neuberger Berman 401(k) Latest Cited in Self-Dealing Suit
The complaint says each time the plan paid fees to Neuberger Berman, or other Neuberger entities, in connection with the investments in proprietary funds, the defendants caused the...
Another 401(k) Self-Dealing Lawsuit Filed
In addition to calling out Franklin Templeton for using high-cost proprietary funds in its plan, the lawsuit challenges its choice to offer its money market fund rather than...
Mutual of Omaha Moving to Customized Mesirow Reports
401(k) advisers and plan sponsors have expressed interest in a customized POLICE Report to show only the funds offered in their plans.
New York Life Accused of Self-Dealing in 'Progress-Sharing' Plan
Corporate class action litigation often comes in waves—certainly this is the case in the retirement planning industry, which has seen a rash of “self-dealing” lawsuits filed against service...