University of Rochester Called Out for Excessive Fees Paid to TIAA
The lawsuit claims the university failed to adequately benchmark fees, negotiate for better fees, or reveal true fees participants were paying.
Tag: retirement plan litigation
Plan Sponsor Challenged in a Lawsuit for Using Untested Hewitt Funds
The plaintiffs say that since these experimental funds were added to the plan in 2013, they have consistently underperformed their benchmarks, and have underperformed the funds they replaced...
Wells Fargo Faced With Revenue Sharing Lawsuit
Despite Wells Fargo's admission and resolution of an error, the Chattanooga Fire & Police Pension Fund wants an accounting of all compensation the bank received while it was...
ESOP Participants to Receive More Than $2 Million for Overpayment of Stock
A federal district court has entered a consent judgment requiring the fiduciaries of the Sonnax Industries’ employee stock ownership plan (ESOP) to pay $2,225,000 to the plan.
DB Plan Sponsor Owes Taxes for Miscalculating Annual Benefit Limitation
A tax court found that the Commissioner of Internal Revenue’s report, which was prepared by an actuary, was in line with actuarial practice in calculating the annual benefit...
TPA Accused of Stealing Assets From Retirement Plans
Vantage Benefits, a TPA and recordkeeper, has already been ordered to restore funds to one 401(k) plan; now a new lawsuit accuses it of stealing funds from MBA...
Adviser Off the Hook in NYU 403(b) Plans Case
While dismissing a new complaint in the litigation about excessive fees in NYU's 403(b) plans, a federal judge also denied summary judgment in the original complaint, moving the...