PLANSPONSOR 2021 Plan Progress Series: Lessons From Litigation
There is no shortage of litigation filed against retirement plan sponsors. It seems that most lawsuits focus on plan administration and investment fees, but a variety of other charges have been filed. While plan sponsors’ first priority is the best interest of participants and not how to avoid legislation, no one wants to be sued. With a large number of cases resulting in settlements, the courts haven’t offered much input on the issues, but there are still lessons to be learned.