The marketing of “fiduciary warranties” has increased in recent years, in response to a wave of lawsuits against retirement plan sponsors charging breach of fiduciary duty. But the fine print found in many of these “warranty” agreements does not offer as much protection as many plan fiduciaries may believe. Plan…
Last year was a busy one for class action lawsuits and settlements against plan fiduciaries and it looks like 2016 is shaping up to be more of the same. Three new and notable class action lawsuits against retirement plan sponsors were filed within the past couple of months. The complaints…
It’s become a familiar story in the retirement benefits industry—a company comes under fire for excessive fees charged to its retirement plan, and plan sponsors face class action lawsuits for failing to act in the interests of the plan’s participants. More often than not, these stories don’t end well for…