Leaving only the prohibited transaction claim to move forward, a federal judge found most defendants were not fiduciaries with respect to the claim and dismissed all but the plan’s investment committee as defendants.
Tag: retirement plan investment fees
Several defendants, including M&T Bank and certain Wilmington Trust subsidiaries were found not to be fiduciaries and dismissed from the case; however excessive fee allegations and a prohibited transaction claim were moved forward against the bank’s retirement plan committee.
SSGA is following the trend of providers lowering investment fees, and sees an opportunity to attract 403(b) plan sponsors.
PIMCO has requested that a number of documents remain sealed and not be open to the public by the court.
The decision points to mailings and various other disclosures sent by Checksmart to the defendant over the years leading up to this litigation as reasons for applying ERISA’s shorter, three-year statute of limitations period.
The expense ratios 401(k) plan participants incur for investing in mutual funds have declined substantially since 2000, Investment Company Institute data shows.
Philips North America agreed to pay $17,000,000 to settle a 401(k) excessive fee suit one day after the complaint was filed.
Hartford Funds lowers fees for six ETFs; oekom research joins ISS, renames brand; T. Rowe Price releases multi-strategy fund; and more.
Putnam announces new pricing for TDFs; First Trust to launch AI and Robotics ETF; and Vanguard launches factor-based ETFs.