Tag: retirement plan participant lawsuits

The lawsuit alleges Principal used proprietary investment vehicles, rather than other investment vehicles, and share classes with higher fees for the underlying TDF investments, to produce more income...

One brief details the history of university retirement plans and argues that 403(b) lawsuits compare apples to oranges; another argues that hindsight cannot be used to challenge investment...

The bank also agreed to continue funding matching contributions to its 401(k) plan in the form of cash or cash equivalents for a period of time.

The same group of plaintiffs previously filed a lawsuit against John Hancock with similar allegations and a similar result.

The court said the plaintiffs claim that Fidelity agreed to overly conservative investment guidelines in a failed effort to lock up all wrap coverage so that its competitors...

Relying on standards set forth by the Supreme Court in Fifth Third Bank v. Dudenhoeffer, an appellate court affirmed a district court’s dismissal of the case.

The complaint calls out the use of United of Omaha-branded mutual funds and target-date funds, as well as a guaranteed fund managed by United of Omaha.

Plan fiduciaries have been charged with breaching their fiduciaries duties under ERISA by selecting more expensive share classes of investments than were available to the plan.

In a statement, Cammack said, “We believe the claims have no merit and will be vigorously defending them.”

While a federal district judge had dismissed some claims last fall, the introduction of a new plaintiff in the case adds them back.

The lawsuit alleged Great-West Life & Annuity Insurance Company breached its fiduciary duty of loyalty under ERISA Sections 502(a)(2) and (3)—namely by setting predetermined interest rates artificially low...

The judge addressed arguments related to commonality of 401(k) participants in the suit.

This case was filed against NYU Langone Hospitals, NYU Langone Health Systems, the retirement plan committee, and several named defendants.