Plan officials are accused of steering participants into investments that charged improper amounts of revenue-sharing and other fees that benefitted the mutual fund partners of Edward Jones.
As with the previous lawsuits, the complaints call out the large number of investment options offered to participants, high expenses for these investment options and the use of...
According to the compliant, the university failed to use the plan’s bargaining power, causing the plan to pay “unreasonable and greatly excessive fees for recordkeeping, administrative, and investment...
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...
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...
As investment adviser to the Checksmart 401(k) plan, Cetera Advisor Networks, has been accused of breaching fiduciary duties by only making available high cost funds to the plan.
Findings from a Natixis survey suggest many investors have expectations that “don’t reflect a full understanding of the risks of index funds versus the benefits.”
John Hancock Investments enacts expense reductions in TDF suite; Defined Contribution Real Estate Council publishes investing checklist for plans; Morningstar introduces new global risk model; Global Retirement Partners teams...
The complaint says the retention of American Century's proprietary mutual funds in its own 401(k) has cost plan participants millions of dollars in excess fees.
In addition to calling Fujitsu's 401(k) the most expensive large plan in the country, the lawsuit calls out the defendants design and implementation of custom TDFs.