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401k › Share Classes

Proskauer - Employee Benefits & Executive...

Fifth Circuit Reverses Dismissal of 401(k) Fees Claims

Proskauer - Employee Benefits & Executive... on

The Fifth Circuit recently reversed a district court’s dismissal of claims that the fiduciaries of a 401(k) plan breached the duty of prudence under ERISA by offering participants retail share classes instead of cheaper...more

Goodwin

ERISA Litigation Update - October 2022

Goodwin on

Key Takeaway: The Sixth Circuit largely affirmed the grant of a motion to dismiss, but reversed the district court’s dismissal of the plaintiffs’ claim that the defendants had failed to select the lowest-cost share class of...more

Proskauer Rose LLP

2 ERISA Rulings Highlight Need for Different Defense Tactics

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Albert Einstein is famously credited with saying, "Insanity is doing the same thing over and over and expecting different results." This adage comes to mind as defense counsel continue to resort to the same strategies for...more

Proskauer - Employee Benefits & Executive...

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

Proskauer - Employee Benefits & Executive... on

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

Proskauer - Employee Benefits & Executive... on

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

Faegre Drinker Biddle & Reath LLP

What We Can Learn from the Anthem Settlement

Faegre Drinker Biddle & Reath LLP on

The recent settlement of the Anthem class action lawsuit (Bell v. ATH Holding Company, LLC) reflects some trends in 401(k) litigation: the focus on share classes, arguments to support inclusion of non-mutual fund investments...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Well here is where an advisory firm gets in trouble

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

A good chunk of my work as an ERISA attorney is working with financial advisory firms in managing their retirement plan practice especially with 401(k) plans. I have many registered investment advisory clients around the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Litigation defending their 401(k) plan is the cost of doing business offering proprietary mutual funds

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

It’s a favorite topic of mine because it’s fascinating to consider, so many mutual fund companies are being targeted for litigation for offering proprietary mutual funds in their employees’ 401(k) plan....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fiduciary Rule will clear out the Alphabet Soup of Share Classes

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

When it comes to mutual funds offered under 401(k) plans, I’ve always believed that the multiple share classes was something out of an alphabet soup. I’m not an advisor, so I don’t know how or why there is so many share...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You Can Always Be A Step Away From Getting Sued

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

A well-respected registered investment advisor was recently named as a defendant in a class-action lawsuit against a $1 billion 401(k) plan. I’m not going to cite the particulars and I’m not going to opine because a...more

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