News & Analysis as of

Mutual Funds Retirement Plan

Allen Barron, Inc.

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on

What are the most important elements of estate and tax planning for US expatriates?  Are you planning to move out of the United States?  Are you a US taxpayer who lives and works outside of the country?  What are some of the...more

ArentFox Schiff

Self-Directed IRAs and the Prohibited Transaction Rules – Part 1

ArentFox Schiff on

Part 1: Permitted Investments and Compliance - The self-directed individual retirement account (IRA) is an increasingly popular option for an IRA account owner, especially those owners who have significant net worth and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Putnam adds ESG Target Date Funds to their lineup

With the new Department of Labor (DOL) rules on ESG funds, it should be no shock that mutual fund companies starting mutual fund offerings for 401(k) fund lineups. Putnam has launched the Putnam Sustainable Retirement Funds...more

Proskauer - Employee Benefits & Executive...

Industry Coalition Unites to Support Dismissal of ERISA Fiduciary-Breach Claims Related To BlackRock Target Date Funds

The filing of a new 401(k) plan “excessive fee” or “investment underperformance” complaint is hardly “news” these days given the proliferation of suits that have been filed over the past several years. In fact, hardly a week...more

Holland & Knight LLP

Low-Cost Index Funds in the Crosshairs of New 401(k) Lawsuits

Holland & Knight LLP on

Since late July, at least 10 lawsuits have been filed against large 401(k) plan sponsors that offer certain BlackRock Inc. target-date funds (TDF) among their investment options. In an unexpected pivot away from the 401(k)...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Revives Second Excessive Fee 401(k) Plan Litigation

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Revives Fee Challenge to Salesforce.com 401(k) Plan

On Friday, the Ninth Circuit became the first circuit court to rule in a 401(k) plan fee and investment litigation following the Supreme Court’s January 2022 decision in Hughes v. Northwestern University, 142 S. Ct. 737...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Voya sued over own investments in their plan

When you are in the mutual fund business and you offer those funds in your plan, you probably will get sued. So Voya is the next defendant....more

Proskauer - Employee Benefits & Executive...

District Court Declines to Dismiss 401(k) Fee Litigation Case in First Decision Post-Hughes

In the first decision since the Supreme Court’s ruling in Hughes v. Northwestern Univ., No. 19-1401, 595 U.S. ___ (U.S. Jan. 24, 2022), a Georgia federal district court held in favor of plaintiffs and declined to dismiss...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

SBDA account balances are up

With the market up, it makes sense that self-directed brokerage accounts in defined contribution plans would be up too....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

MetLife sued over proprietary index funds in 401(k) plan

When you’re a financial services company that offers proprietary mutual funds within your 401(k) plan, expect to get sued....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

John Hancock forks over $14 million in 401(k) lawsuit

When you operate proprietary mutual funds and offer them in your401(k) plan, you will be a target of ERISA litigators. John Hancock agreed to a $14 million settlement in a lawsuit filed by participants in a company 401(k)...more

Morgan Lewis - ML Benefits

An ‘Ex-CIT’ (Exit) from Mutual Funds? Retirement Plans Head to Collective Investment Trusts

We have recently seen a rise in the number of retirement plans exiting mutual funds in favor of collective investment trusts (CITs). Often the transition is simply a change in structure—that is, moving from the same...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

One Fund Family Lineups are a bad idea

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the retirement plan industry, we have retirement plan providers and their employees’ retirement plans....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Hire an advisor when you get an employee

I’m still amazed when I find participant-directed 401(k) plans without a financial advisor. While I understand how solo 401(k) plans don’t have an advisor because individuals think they can do it on their own, it makes no...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Yesterday’s funds in today’s lineups

If you ever want to know what the top mutual funds were 3-5 years ago, you can look at the mutual fund lineup of many 401(k) plans today. ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

It’s a Process and Not A Result

Advisors ask me all the time of the role of education in participant-directed 401(k) plans. Participant directed 401(k) plans that are governed under ERISA §404(c) offer the plan sponsors liability protection based on a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

One Mutual Fund Lineup isn’t a good idea

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the retirement plan industry, we have retirement plan providers and their employees’ retirement plans....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Mutual of Omaha settles lawsuit

Mutual of Omaha Insurance Co. and its subsidiary United of Omaha has agreed to settle Mutual of Omaha’s 401(k) plan over allegations of self-dealing....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Too much choice isn’t a good thing

In life, giving people a wide variety of choices is a good thing. However, when it comes to daily valued 401(k) plans, too many choices isn’t a good thing. It sounds counter-intuitive, but too many choices offered to plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Proprietary fund plan sponsor problems

I always say that I come up with many ideas, but most of them are bad. Seriously, there are so many bad ideas out there in the 401(k) space and one of the really bad ideas out there are bundled plan providers using their own,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity settles lawsuit for $28.5 million

Fidelity Investments settled a class-action lawsuit regarding its own 401(k) plan for $28.5 million. The class-action case alleged that Fidelity breached its fiduciary responsibility to plan participants by including its...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL to allow private equity investments in DC Plans

The Department of Labor (DOL) released some new guidance that might facilitate the inclusion of private equity (PE) exposure in participant-directed defined contribution (DC) plans ERISA. The guidance contemplates the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You need a financial advisor

I am still how often I find participant-directed 401(k) plans without a financial advisor. While I understand how solo 401(k) plans don’t have an advisor because individuals think they can do it on their own. I have a solo...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Shell gets sued over their 401(k) Plan

Shell Oil, along with Fidelity is the target of a class action 401(k) lawsuit. As typical with a suit against a large billion-dollar 401(k) plan, plaintiffs allege that Shell failed to use the multi-billion dollar 401(k)...more

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