Compliance | October 15th, 2018 Health Care Provider Accused of Excessive Fees in 403(b) and 401(k) Plans A lawsuit alleges that the defendants failed to take advantage of the plans' bargaining power by only offering actively managed...
Compliance | October 11th, 2018 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...
Compliance | August 24th, 2018 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...
Compliance | August 22nd, 2018 Duke University Charged in Second 403(b) Plan Lawsuit While the first lawsuit focused on excessive recordkeeping, administrative and investment fees, the new lawsuit focuses specifically on the university’s...
Compliance | August 21st, 2018 Litigators Not the Only Ones Looking Into Retirement Plan Investments and Fees The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of...
Compliance | August 20th, 2018 Analysis of Settlement Terms in Deutsche Bank ERISA Litigation The bank has agreed to pay $21.9 million to settle charges it benefited from including proprietary funds in its 401(k)...
Administration | August 15th, 2018 Leveling the Playing Field for Participant Fees Making participant plan fees more equitable.
Compliance | August 1st, 2018 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...
Compliance | July 17th, 2018 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...
Administration | June 20th, 2018 PSNC 2018: Fee Considerations Fee-levelization and zero revenue sharing are the newest trends for retirement plan fees.
Administration | May 30th, 2018 Penn State Announces New Retirement Program Fee Practices The plan to adopt a fee-leveling approach and rebate revenue sharing to participants comes as many institutions of higher learning...
Compliance | May 24th, 2018 University of Chicago Settles 403(b) Plans Excessive Fee Suit In addition to a monetary payment, the university has agreed to structural changes to its 403(b) plans.
Compliance | May 18th, 2018 ERISA Excessive Fee Suit Filed Against University of Rochester The suit challenges fees paid to provider TIAA.
Compliance | May 11th, 2018 Public Pension Fund Files Complaint Against Wells Fargo Over Compensation Received The bank admitted that because of “a system error,” revenue sharing payments were not credited to the retirement fund, but...
Data and Research | May 11th, 2018 Small Business Owners Need More Knowledge of Retirement Plan Fees Only 49% said they had read their fee disclosure in the prior year and had understood it; 44% said they...
Compliance | April 3rd, 2018 Court Moves Forward Claims in Yale 403(b) Plan Case A federal district court judge denied dismissal of most violation of duty of prudence claims.
Compliance | April 2nd, 2018 NYU Asks to Exclude Certain Evidence from Trial in 403(b) Plans Case The university also asks that the plaintiffs not be able to attempt to use evidence that their prudent measures and...
Compliance | March 30th, 2018 Edward Jones Fails to Win Dismissal of Self-Dealing Suit The defendants argued that a court decision in a self-dealing lawsuit against Wells Fargo supports their motion to dismiss their...
Compliance | March 20th, 2018 IRS Reduces Fee for Terminating Plan Determination Letter Plan sponsors who have already submitted an Application for Determination for Terminating Plan in 2018 will receive a refund of...
Compliance | March 20th, 2018 Court Denies Participant Second Chance at Voya ERISA Suit A federal district court judge ruled a new complaint alleging Voya Financial and Voya Retirement Advisors engaged in prohibited transactions...