Participant Files Suit Over Advisory Fee Breakdown
A retirement plan participant accuses a well-known plan provider of delivering “no material services” in connection with certain advisory fees.
Tag: Fees
Sponsor Faces Class Action Challenge Alleging Self-Dealing
The complaint cites portions of key Northrop Grumman plan documents, challenging the process by which the company assembled and monitored...
Chevron Wins Dismissal of ERISA Challenge
An Employee Retirement Income Security Act (ERISA) lawsuit filed by participants in a Chevron Corporation defined contribution (DC) plan has...
Safeway Faces Lawsuit Over TDF Fees
The lawsuit also calls out excessive revenue-sharing and recordkeeping fees.
Sponsor Demand Dramatically Shapes Fund Fees
Institutional asset owners are increasingly skeptical of revenue sharing and are relentlessly pursuing lower fees within defined contribution plan investment...
Study Finds Small Business 401(k) Fees Top 2%
By comparison, ICI data shows that plans of all sizes pay an average of 1.29% in fees.
Retirement Plans Driving Wider R6 Share Offerings
Institutional investors, including employer-sponsored retirement plans, are generating significant demand for inexpensive and transparent investment vehicles.
Morgan Stanley Facing Excessive-Fee, Self-Dealing Lawsuit
The lawsuit claims the investment manager selected and retained relatively high-cost and poor-performing investment options for its 401(k) plan, some...
Law Firm Files Four More Lawsuits Against University 403(b) Plans
This is the second lawsuit filed against Columbia University this week.
What the 403(b) Excessive Fee Lawsuits Do Not Consider
Attorneys point out distinctions between 403(b)s and 401(k)s, and lessons 403(b) plan sponsors can learn from recent lawsuits.
Columbia University Target of ERISA Excessive Fee Suit
The lawsuit claims the university’s 403(b) plans’ investment options were imprudent and expensive.
More University 403(b) Plans Targeted in Excessive Fee Suits
The complaints are nearly identical, with a few exceptions.
Duke University Employees Sue Over 403(b) Plan
The suit calls out the traditional 403(b) plan model of offering multiple funds, including individual annuities, and using multiple recordkeepers.
Tibble to Get En Banc Appellate Court Review
The 9th Circuit will review whether the plaintiff can raise an “ongoing-duty-to-monitor” argument in his retirement plan excessive fee suit.
Neuberger Berman Accused of Self-Dealing in 401(k) Plan
The case calls out one fund in particular, which it says “was larded with high fees and has suffered from...
Franklin Templeton 401(k) Plan Latest Cited in Self-Dealing Suit
Allegations are similar to a number of other self-dealing lawsuits against fund managers this year.
Opinions |
Barry’s Pickings Online: A Chief Fee Officer?
Michael Barry, president of Plan Advisory Services Group, discusses how a Chief Fee Officer may help DC plans prevent or...
Another Small Plan Targeted in Excessive Fee Suit
Checksmart and its investment adviser, Cetera Advisor Networks, have been specifically targeted over fees of risk-based asset allocation funds in...
401(k) Plan Participants Invest in Lower-Cost Mutual Funds
ICI reports the cost of investing in equity mutual funds through 401(k) plans has declined 31% since 2000.
American Century Accused of Self-Dealing in Its 401(k)
The lawsuit accuses the fund provider of loading its retirement plan with its own funds and using share classes of...