Tag: retirement plan fees

Fidelity Faces Another 401(k) Self-Dealing Lawsuit

The lawsuit not only calls out Fidelity’s use of all proprietary funds in its 401(k) investment lineup, but also accuses it of not negotiating for revenue sharing rebates, not using the lowest-cost share classes, not investigating alternative investment vehicles and not evaluating stable value fund options when its money market funds poorly performed.

Court Finds All Claims Plausible in T. Rowe Price Self-Dealing Suit

The original complaint accuses T. Rowe Price 401(k) plan trustees of breaching their fiduciary duties under ERISA by either failing to remedy their predecessors’ breaches, or, in a few cases of offering expensive retail class versions of proprietary mutual funds, waiting too long to act to shift into lower cost versions of the funds.

NYU Claims Victory in 403(b) Plans Lawsuit

In the first university 403(b) plans case to go to trial, a federal district court found the plaintiffs have not proven that the NYU retirement plans committee acted imprudently or that the plans suffered losses as a result.

Brown University 403(b) Plans Suit Moves Forward

A federal judge denied dismissal of plaintiffs’ allegations that a prudent fiduciary would have chosen one—rather than two—recordkeepers; that a prudent fiduciary in like circumstances would have solicited competitive bids; and a claim regarding recordkeeping fees.