Similar to many excessive fee lawsuits filed against single-employer plans, the complaint accuses a multiemployer plan of failing to leverage its bargaining power to obtain lower investment and recordkeeping fees.
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
Segal Hires Former Consultant on Employee Benefit and Health Care Strategies; Janney Montgomery Scott Adds New Workers to Equity Research Group; Recordkeeping and Consulting Firm Joins ABG; and more.
One of the first indicators investors will see on their new home page is a personalized recommendation for improving retirement readiness.
An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan which had more than $157 million in assets as of the end of 2015.
The tool leverages a 401(k) database to hone in on the often complex fee structure associated with retirement plans.
A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer enough arguments to support her claims.
The mutual-fund based program also offers an in-plan retirement income option and access to 3(38) fiduciary services.
A lawsuit alleges that asset-based fees led to the plan paying $1,819 per participant for recordkeeping services in 2015.
A court certified a class in the consolidated lawsuit after first rejecting BB&T’s arguments that the class did not meet commonality and typicality requirements.
The Department of Labor recommends the incorporation of workforce demographics into QDIA design; different providers have different philosophies about the best way to do this.
A federal court judge found most claims were not plausibly alleged by the plaintiffs.
In order to attract and retain top talent, employers are integrating benefits programs to address key issues.
As part of its expansion efforts, Ascensus has named a new president and pledged to continue its rapid pace of acquisitions.
Discussing a new Wells Fargo tool, the Outcome Optimizer, the firm’s director of relationship management suggests granting plan sponsors a view into the performance of peers’ plans is a powerful motivator.
In order to preserve capital and protect participants from longevity risk, plan sponsors intend to put a bigger emphasis on fixed-income strategies.