U.S. Fiduciary Services and three of its subsidiaries agreed to provide payment of more than $7 million to 42 retirement plans.
Tag: retirement plan investments
They like the tax advantages, investment opportunities and investor control that 401(k)s and other DC plans offer them, ICI finds.
BCG adds 401(k) managed account from Stadion to recordkeeping platform; Mercer partners with Investment Metrics for client reporting; BCM TDF series to offer protection within uncertainty; and more.
However, a federal judge certified subclasses on the imprudent investment claims because class representatives were not all invested in the 401(k) funds challenged.
The complaint alleges fiduciaries of Mutual of Omaha’s 401(k) plan violated their fiduciary duties by selecting numerous investment options because they paid fees to Mutual of Omaha or its subsidiaries.
The firm’s lawyers noted that the plaintiff signed an agreement not to pursue any class action claims, but a Supreme Court case allowed him to pursue a claim on behalf of himself.
The plaintiffs claim plan fiduciaries repeatedly failed to monitor the share classes of mutual fund investments and to substitute less expensive share classes of mutual funds for more expensive ones.
State Street Global Advisors reveals latest SPDR ETFs, and Charles Schwab announces addition of 12 ETFs to OneSource.
An analysis from Mayer Brown LLP attorneys offers helpful guidance for retirement plan fiduciaries thinking about making changes to their stable value or money market funds in 2018.
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.
Before certifying a class in the litigation, a federal judge determined that the named plaintiffs need not have invested in all funds challenged in the suit in order to represent 401(k) participants that invested in the funds.
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
The lawsuit suggests Nordstrom should have offered managed accounts or collective investment trusts to participants in its 401(k) plan.