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Retirement Plan › Fiduciary Duty › Revenue Sharing

Proskauer - Employee Benefits & Executive...

Tenth Circuit Addresses Damages for Excessive Recordkeeping Fee Claims

Proskauer - Employee Benefits & Executive... on

One of the multitude of recent cases challenging the recordkeeping fees of 401(k) plans recently made its way to the Tenth Circuit Court of Appeals. Ramos v. Banner Health, No. 20-1231, — F.3d —- (10th Cir. June 11, 2021). ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity settles lawsuit for $28.5 million

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

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

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #11

Faegre Drinker Biddle & Reath LLP on

This is the eleventh in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Is that 401(k) lawsuit streak going to end?

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

The landscape for the retirement plan business has radically changed since when I first started in 1998. Normal courses of business such as revenue sharing and non-transparency of fees were the order of the day. No one cared...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2017

Proskauer Rose LLP on

Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

K&L Gates LLP

ERISA Fiduciary Issues for Plan Sponsors: What Do 401(k) Plan Fiduciaries Need to Know About Revenue Sharing?

K&L Gates LLP on

Retirement plan revenue sharing has a bad reputation. Numerous lawsuits have been filed during the past year against employers that sponsor 401(k) plans alleging breach of fiduciary duty under the Employee Retirement Income...more

Proskauer Rose LLP

ERISA Litigation Newsletter - July 2016

Proskauer Rose LLP on

Editor's Overview - This month we take a look at the plaintiffs' past successes in fee litigations, and the influx of such lawsuits seeking to impose heightened fiduciary standards for 401(k) plans. Regardless of the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - February 2016

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Avoiding The “Bumps” Of Being A Retirement Plan Provider - I’m a big fan of business history and every successful company that has ever been founded has had a few bumps along the way. For example, Apple almost went out...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

New Great West case and Revenue Sharing

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Add Great West under their Empower Retirement brand name as the latest bundled provider being sued. Great West is being sued for revenue sharing fees from mutual funds as part of their program....more

Jackson Walker

Reasonable Fee Issues for Fiduciaries on the Horizon

Jackson Walker on

The Supreme Court is poised to address whether fiduciaries' decisions—especially in using fee sharing arrangements—are subject to deference when challenged. The Eighth and Ninth Circuit courts recently decided these issues,...more

Proskauer - Employee Benefits & Executive...

The Debate Continues Over The Fiduciary Status of 401(k) Plan Service Providers

Proskauer - Employee Benefits & Executive... on

In Golden Star Inc. v. MassMutual Life Ins. Co., 2014 WL 2117511 (D. Mass. May 20, 2014), a district court addressed two issues that have become hotly contested in 401(k) plan fee litigation: (1) whether and when a plan...more

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