Tag: retirement plan litigation

Jackson National Agrees to Settle Self-Dealing Suit

The lawsuit alleged that the company selected high-cost proprietary investment products offered and managed by Jackson National and its affiliates on the plan’s menu of investment options, allowing it to maximize profits.

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.