Original Air Date: May 12, 2020
Understanding the latest developments and recent trends in class action suits alleging that retirement plans and their participants are paying excessive fees and being offered underperforming investment options.
It began with class actions filed against large publicly traded companies that sponsored multi-billion dollar 401(k) retirement plans. Over the years, these claims evolved to target financial institutions that utilized their own products in their plans and even private universities that sponsored 403(b) plans. Now, over a decade later, not only do these excessive fee cases show no sign of slowing down, they’re actually becoming more prolific and targeting a broader range of plans despite evidence that average plan fees have been steadily declining.
Join us for a discussion on the nature of these lawsuits, the kinds of exposures plan fiduciaries face in this legal climate, and the potential risk factors for plan fiduciaries.