Though its GoalMaker portfolio management solution features prominently in the plaintiffs’ allegations, Prudential is not a party in the case.
The firm has been added as a defendant in a lawsuit that challenges the use of Prudential's GoalMaker asset allocation solution.
A court refused to dismiss most claims against Aon Hewitt Investment Consultants and Centerra Group 401(k) plan fiduciaries.
The appellate court agreed with the plaintiffs that the lower court erred in dismissing share class-related claims and in denying them leave to amend the suit to add more defendants.
The suit says the solution directed participant contributions into high-cost investments.
The agency recommended that the Federal Retirement Thrift Investment Board (FRTIB) evaluate the risk of climate change on the Federal Thrift Savings Plan (TSP)'s investment offerings.
A court dismissed claims regarding KeyCorp plan’s stable value fund option but moved forward some claims regarding excessive administrative and managed account fees.
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.
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.