Commentary: Over the past eight years, 13 pending or settled cases have accused companies of failing to act in the best interests of employees participating in 401(k) retirement plans. The most recent filing was made by Bailey & Glasser, LLP, which filed a class action lawsuit against AEGON USA in which it accuses the global [...]
Advisers should consider whether collective trust funds and separate accounts offer lower expenses than their mutual fund counterparts Even Vanguard Group mfund fees may be excessive when it comes to 401(k) plans. A new class-action lawsuit is pitting participants in the Anthem Inc. 401(k) plan, a massive plan with more than $5 billion, against plan [...]
Boeing Co (BA.N) said it had agreed to pay $57 million to settle a lawsuit in which employees accused the company of mismanaging their 401(k) retirement plan. The settlement amount is the second-highest ever in excessive 401(k) fee litigation, Schlichter Bogard & Denton, the law firm representing the employees, said in an emailed statement on [...]
