Tag: self-dealing

The complaint suggests Transamerica continued to offer proprietary portfolios when their rates of return were meaningfully below stated long-term benchmarks.

According to the lead plaintiff, the DC plan in question offers only investment options that generate fees for SEI and its affiliates and treat the plan as a captive customer.

The rise in lawsuits is prompting more sponsors to turn to lower-cost index funds—and could prevent them from offering lifetime income products.