Among other claims, the lawsuit says Aon and a 401(k) plan sponsor caused the plan to invest in Aon’s proprietary collective investment trusts (CITs) for Aon’s benefit.
Tag: retirement plan investments
Plan fiduciaries' motions to dismiss the excessive fee suit were denied as a federal judge found the plaintiffs' claims were plausible.
The judge found that plaintiffs in the case challenging the use of an actively managed TDF suite rather than its index version have pleaded sufficient claims.
One feature the new complaint has in common with suits filed previously by Capozzi Adler is its reliance on comparing the plan’s expenses for investments and administration services with a group of alleged peers.
Claims were also moved forward against defendant Aon Hewitt Investment Consulting related to a target-date fund (TDF) switch.
The court found that plaintiffs were never given clear instructions for how to exhaust their administrative remedies for claims of fiduciary breaches.
Participants of a terminated 403(b) plan say the plan sponsor's fiduciary breaches caused them approximately $4.6 million in losses.
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
The Employees’ Retirement System of the City of Milwaukee says the investment managers' failure to follow the promised investment strategy of the funds resulted in massive losses.
The Blue Cross and Blue Shield Association National Employee Benefits Committee says if the investment strategy of certain funds had been followed, they wouldn't have lost as much this year.
The primer includes a review of the basics of managed accounts, a description of how they can be offered and considerations for determining if they are right for a particular DC plan.
The lawsuit says for at least 18 of the 27 mutual fund share classes available within The Vail Corporation plan, the same issuer offered a different share class from that selected by the plan that charged lower fees, and consistently achieved higher returns.
Stadion Money Management launches custom managed account service; Hartford Funds presents interval fund; OpenInvest partners with LGIMA in ESG solutions; and more.
The complaint accuses BBVA Compass of mismanaging a $100 million money market fund “that was the investment equivalent of stuffing cash into a mattress” and failing to properly monitor investments and remove imprudent ones.
In a case alleging George Washington University violated ERISA fiduciary duties with regard to retirement plan fees, a federal judge found the plaintiff had waived her right to sue in a previous agreement.
The ERISA fiduciary duty requires fiduciaries to act with prudence, not prescience, a court said.
Nothing in the settlement agreement calls for Eaton Vance to make any changes to its investment menu for the plan.
An appellate court revived two claims in the lawsuit that had been previously completely dismissed by a District Court, but in a dissenting opinion, one judge expressed concern about permitting implausible allegations to result in a large settlement.
FINRA claims AXA Advisors sent disclosures to 401(k) plan sponsors and participants that misrepresented the credit quality of bond funds with group annuity accounts.