| Plaintiffs Fail to Meet Pleading Standards in Wells Fargo Stock Drop Suit |
| A U.S. district court judge in Minnesota has dismissed a consolidated lawsuit alleging Wells Fargo violated its duties of prudence and loyalty under ERISA by keeping company stock as an investment in its 401(k) plan when plan fiduciaries knew the stock price was inflated.
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| Catering to Millennial Investors and Job Seekers |
| According to data from Wells Fargo and TheMuse, if given $1,000 in spare cash to invest, 86% of Millennials would be motivated to invest in a company that “makes the world a better place with their products.”
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| Excessive Fee Suit Filed Against Novitex 401(k) Plan Fiduciaries |
| A participant says a plan with more than $157 million in assets has the bargaining power to negotiate lower fees for administration and plan investments, leveling allegations very similar to those filed against mega-sized plans with 10-times the assets.
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| Commitment to Fiduciary Issues Here to Stay |
| Due to regulatory uncertainty and increasing litigation from plan participants, retirement plan sponsors have become more proactive about their fiduciary responsibilities, Deloitte found in its Annual Defined Contribution Benchmarking Survey, based on a survey of 240 sponsors.
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