Tag: retirement plan investments

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.

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.

During 2018, the $20 billion club shifted asset allocations significantly away from risky assets and into fixed income, Russell Investments found.

Anthem has agreed to pay $23.6 million to settle the lawsuit in addition to non-monetary terms.

Principal Financial Group launches the Principal Guaranteed Option, while Charles Schwab introduces subscription pricing for robo-advice. 

Comparing Employee Retirement Income Security Act (ERISA) cases to trust law cases, a federal judge decided to side with "the great weight of authority in the federal courts holding actions under ERISA to remedy alleged violations of fiduciary duties are equitable in nature," so there is no right to a jury trial.

In their second amended complaint, the plaintiffs argued that the Sequoia Fund purported to be a value fund, but increased investments in Valeant Pharmaceuticals created a “clear indicia of a growth stock,” and did not meet the Sequoia Fund’s purported investing criteria of seeking out value stocks.