An order against the firms, which were involved in lengthy litigation against Great-West, states that they behaved recklessly and unfairly in the pursuit of their claims.
Although attention to workplace benefits has increased among employers, a new Transamerica Institute survey reveals a chasm between the benefits they value and those that workers prize.
The defendants were accused of failing to monitor the average expense ratios charged to similarly sized plans for investment management fees and recordkeeping.
Among the latest major employers to be sued under ERISA for alleged underperformance of default investment options are Marsh & McLennan and Advance Publications.
Nuveen hires new head of responsible investing strategy, Solutions; Macquarie Expands its Transition Management Franchise; Calvert Institutional Solutions Group Names New Managing Director; and more.
Milliman and Turquoise Health seek to automate health care price data to reduce administrative and contracting burdens for individuals, employers and health care providers.
Vanguard projects lower 10-year equity market returns that will affect participants’ retirement savings, and recommends a participant default rate to reach sufficient retirement income replacement rates.