Excessive Fee Lawsuits Expected to Continue to Rain Down on Plans
ForUsAll Features Cryptocurrency in New Alt 401(k) Platform
Employees will be allowed to transfer up to 5% of their balances into a secure account that has exposure to certain cryptocurrencies.
Retirement Industry People Moves
Moneta hires first female CIO; Mesirow Board of Directors appoints new president; TRA hires Mid-Atlantic regional sales consultant; and more.
ERISA Excessive Fee Lawsuit Filed Against Generac Power Systems
The complaint includes allegations similar to those in many suits filed over the past few years.
Talking Digital Advice Trends With Morningstar and DFA
Adviser Op-Ed: Addressing the Retirement Plan Provider Disconnect
Wake Forest University Baptist Medical Center Sued Over 403(b) Plan Fees
The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.
Investment Product and Service Launches
Morningstar invests $11 million in iraLogix; Transamerica announces latest R6 share classes; and ESG Asset launches new capital health care disruptors fund.
CDI Corp. Agrees to $1.8M ERISA Lawsuit Settlement
The retirement plan in question in the suit is substantially smaller than many of those that have faced or settled similar lawsuits, and thus the size of the settlement is also reduced.
Fiduciary Decisions Factors PTE Into IRA Rollover Compliance Software
The firm is experiencing a surge in B/Ds and RIAs requesting assistance with the new rule as the enforcement date approaches.
DCIO Execs Talk ‘Battle-Tested’ Investment Process
TIPs, emerging market equities and commodity-oriented investments are seen as safe hedges right now.
Alegeus Announces Launch of New HSA Solution
Its features include fractional trading up to eight decimal points, auto-rebalancing and real-time account opening and trading.
Estee Lauder Excessive Fee Suit Moves to Pretrial Conference
A district court judge has denied the defense’s motion to dismiss without offering any explanations for his reasoning in court documents.
Midsize Plan Claims Self-Dealing by Russell Investments
The same attorney that is representing employees of Caesars Entertainment in a self-dealing lawsuit filed in May against Russell Investments has signed onto a similar case put forward by participants in Royal Caribbean Cruises’ retirement plan.
Judge Moves Forward Some Claims in Excessive Fee Suit, Rejects Others
A judge found there was no evidence that fiduciaries of B. Braun Medical's retirement plan violated ERISA's duty of loyalty, but he denied dismissal of claims for breach of duty of prudence.
Advisers Who Successfully Serve the LGBTQ Community
Retirement plan experts say people in this market are in need of advisers who are attuned to and understand their needs.
More Clients Are Using Social Media to Vet Advisers
Hartford Funds data finds that, overall, 33% of respondents reported seeking financial advice online and almost half say social media impacts whom they retain as a financial professional.
IRS OC List Helps Plan Sponsor Clients Ensure Operational Compliance
An updated page on the IRS website serves as a reminder of requirements in effect and those that will be in effect soon.
When ‘Eating Your Own Cooking’ Becomes Self-Dealing
Northern Trust Faces New Fiduciary Breach Allegations
The plaintiffs argue the plan lost ‘tens of millions of dollars’ in retirement savings due to the retainment of Northern Trust Focus Funds.