PSNC 2023: Non-Intuitive Ways to Be a Good Fiduciary
Besides following ERISA rules and frequent fee benchmarking, there are several non-intuitive processes plan sponsors should know, according to a...
Tag: revenue sharing
Lawsuit Targets California Medical Center 403(b) Plan
A former employee of Cedars-Sinai Medical Center alleges onerous plan fees and under-performing funds.
Financial Services Company CoreLogic Targeted in ERISA Suit
The lawsuit seeks to recover retirement plan losses due to alleged mismanagement of CoreLogic’s 401(k) retirement plan.
University of Vermont Medical Center Plan Sued for ERISA Breaches
The university medical center’s retirement plan failed to disclose revenue sharing or float income and caused workers to pay excessive...
Cook Group Faces Latest Excessive Fee Complaint
The defendants are accused of paying unreasonable recordkeeping and administrative fees and offering imprudent share classes of certain investment options.
SEC Spotlights Revenue Sharing Disclosure Failures
A recent regulatory order filed by the Securities and Exchange Commission demonstrates some of the ways revenue sharing and disclosure...
Lack of Revenue Sharing Questioned in ERISA Lawsuit
Retirement plan fiduciary breach lawsuits question the use of revenue sharing far more commonly than they criticize its absence.
Wesco Distribution Faces Lawsuit Over Retirement Plan Services Fees
Among other things, the plaintiffs contend that prudent fiduciaries monitor and limit revenue sharing and make sure excessive indirect compensation...
Nextep MEP Sued for Excessive Fees
The lawsuit takes particular issue with the use of higher-cost share classes and revenue sharing.
Revenue Sharing Affects DC Plan Participant Investment Choices, Research Suggests
Researchers found revenue-sharing funds are more likely to be added to plan investment menus and are less likely to be...
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
The complexity of retirement plan lawsuits often makes district court judges reluctant to approve early dismissal motions plaintiffs, but Salesforce...
TriNet Latest to Face Familiar Fiduciary Breach Allegations
Yet another piece of ERISA litigation has been filed by the law firm Capozzi Adler, this one following the same...
Parties in Lawsuit Over Revenue Sharing in 401(k) Plan Agree to Settle
BTG International and company officials agreed to pay $560,000 to settle charges they allowed the plan’s recordkeeper to receive unreasonable...
DC Plan Sponsors Increasing Focus on Fees
Callan’s 2019 Defined Contribution (DC) Trends Survey finds more plan sponsors have conducted fee benchmarking, there’s a shift in who...
Plaintiffs Agree to Drop Empower ERISA Revenue-Sharing Lawsuit
Both parties agreed to dismiss the litigation under Federal Rule of Civil Procedure 41(a), and each party will bear its...
Duke University 403(b) Plan Lawsuits Reportedly Settled
The docket reports for two lawsuits filed against the university say counsel for the plaintiffs and counsel for the university...
Duke University Charged in Second 403(b) Plan Lawsuit
While the first lawsuit focused on excessive recordkeeping, administrative and investment fees, the new lawsuit focuses specifically on the university’s...
Leveling the Playing Field for Participant Fees
Making participant plan fees more equitable.
Penn State Announces New Retirement Program Fee Practices
The plan to adopt a fee-leveling approach and rebate revenue sharing to participants comes as many institutions of higher learning...
Public Pension Fund Files Complaint Against Wells Fargo Over Compensation Received
The bank admitted that because of “a system error,” revenue sharing payments were not credited to the retirement fund, but...