Empower ERISA Revenue-Sharing Lawsuit Voluntarily Dismissed
The court officially ended the case by approving a dismissal motion jointly filed by the parties.
Tag: revenue sharing
After Grace Period, SEC Share Class Disclosure Investigations Begin
Attorneys warn the “other shoe has dropped” in the SEC’s special Share Class Disclosure Initiative—and RIAs that did not self-report potential 12b-1 fee disclosure violations are now being investigated.
Attorneys Report Settlement in Duke University 403(b) Plan Cases
One case focused on excessive fees for recordkeeping, administrative, and investment services, and the other focused on revenue sharing.
Second Lawsuit Over Duke University 403(b) Plan Filed
The new lawsuit alleges the university engaged in prohibited transactions when it used revenue sharing from plan investments to pay for HR staff salaries and fringe benefits.
Different Flavors of Fee Levelization
As one of the first steps of pursuing fee levelization, plan sponsors and advisers should consider whether participants will be charged on a “pro rata” or “per capita” model.
Penn State to Adopt Fee-Leveling Approach in Retirement Plans
An announcement also notifies plan participants about revenue sharing paid to TIAA from some investment funds and says revenue sharing will be rebated to participants.
Wells Fargo Faced With Revenue Sharing Lawsuit
Despite Wells Fargo's admission and resolution of an error, the Chattanooga Fire & Police Pension Fund wants an accounting of all compensation the bank received while it was trustee of the fund.
More DC Plan Sponsors Lowered Fees After Reviews in 2017
In the majority of cases, the plan’s consultant/adviser conducts the benchmarking (82.8%)—higher than in prior years, Callan finds.