Tag: retirement plan fees

Another Undisclosed Fee Lawsuit Filed Against Fidelity

According to the recent complaint, Fidelity has breached its fiduciary duties to retirement plans by charging mutual fund and other investment companies a substantial fee as a condition for their investment vehicles being offered on Fidelity’s fund platform.

Fidelity Faces ERISA Prohibited Transaction Charges in New Lawsuit

The lawsuit accuses Fidelity of requiring "secret" payments from funds to make up for declining amounts of revenue sharing payments received by the firm as a result of the increasing use of passive mutual funds, institutional and R6 share classes of mutual funds and collective trusts

Advisers Can Help Plan Sponsors With Their Focus on Fees

In the majority of cases, plan sponsors that participated in Callan’s 2019 Defined Contribution (DC) Trends Survey said their plan consultant/adviser conducted fee benchmarking, and in 2019, sponsors will be looking to switch to lower-fee share classes and to more institutional vehicles.

9th Circuit Upholds Dismissal of Chevron Fiduciary Breach Lawsuit

The appellate court found that the allegations showed only that Chevron could have chosen different vehicles for investment that performed better during the relevant period, or sought lower fees for administration of the fund, not that any breach of ERISA duties had occurred.

Claims in T. Rowe Price Self-Dealing Suit Survive Motions to Dismiss

Claims that survived included fiduciaries breached their duties of loyalty and prudence in their selection and monitoring of investments, fiduciaries failed to monitor other fiduciaries, plan trustees failed to remedy actions of predecessors, and the fiduciaries engaged in prohibited transactions.