Tag: 401(k) Litigation

The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to pursue ‘leftist political agendas.’

A district court judge dismissed a case brought by six former employees claiming the auto parts company allowed 401(k) participants to pay excessive recordkeeping and investment fees.

According to the trade association, the regulator will not appeal a ruling that keeps 401(k) rollover advice outside of fiduciary investment guidance.

A 2020 case over the performance of proprietary CITs ends with a settlement.