GKN Latest to Face Scrutiny Over GoalMaker Service
Though its GoalMaker portfolio management solution features prominently in the plaintiffs’ allegations, Prudential is not a party in the case.
Northern Trust Accused of Fiduciary Breaches Related to AutoZone 401(k)
The firm has been added as a defendant in a lawsuit that challenges the use of Prudential's GoalMaker asset allocation solution.
Most Claims Move Forward in Suit Over Aon CITs in 401(k) Plan
A court refused to dismiss most claims against Aon Hewitt Investment Consultants and Centerra Group 401(k) plan fiduciaries.
2nd Circuit Sends Elements of NYU ERISA Suit Back to District Court
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.
401(a) Plan Sponsor’s Use of Asset Allocation Solution Challenged in Lawsuit
The suit says the solution directed participant contributions into high-cost investments.
GAO Studied Retirement Plan Climate Change Risk Assessments
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.
KeyCorp Succeeds in Getting Some Claims Dismissed in Excessive Fee Suit
A court dismissed claims regarding KeyCorp plan’s stable value fund option but moved forward some claims regarding excessive administrative and managed account fees.
Judge Finds Most Allegations Sufficient in Lawsuit Over CITs
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.
Barnabas Health Retirement Plan Lawsuit Moves Forward
Plan fiduciaries' motions to dismiss the excessive fee suit were denied as a federal judge found the plaintiffs' claims were plausible.
Judge Moves Forward ERISA Suit Against Coca-Cola Bottler
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.
ICON Clinical Research Faces Common ERISA 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.
Judge Moves Forward Claims in Lawsuit Against Schneider Electric
Claims were also moved forward against defendant Aon Hewitt Investment Consulting related to a target-date fund (TDF) switch.
Court Again Denies Dismissal of BBVA Lawsuit Alleging 401(k) Mismanagement
The court found that plaintiffs were never given clear instructions for how to exhaust their administrative remedies for claims of fiduciary breaches.
Actively Managed Funds and High-Cost Share Classes Called Out in ERISA Suit
Participants of a terminated 403(b) plan say the plan sponsor's fiduciary breaches caused them approximately $4.6 million in losses.
DST Systems, Investment Manager Settle Lawsuit Over Risky Retirement Plan Investment
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
AllianzGI Structured Alpha Funds the Target of Another Lawsuit
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.
DB Plan Investment Provider and Investment Adviser Sued Over Market 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.
DCIIA Publishes First Paper in Series on Managed Accounts
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.
Share Class Choices Challenged in New 401(k) Lawsuit
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.
Investment Product and Service Launches
Stadion Money Management launches custom managed account service; Hartford Funds presents interval fund; OpenInvest partners with LGIMA in ESG solutions; and more.