What is a Fiduciary Duty?
A fiduciary is an organization or individual that holds the critical power and responsibility of acting on behalf of others. A fiduciary pledges to carry out their daily duties honestly and through good faith. A fiduciary…
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Koch Industries Hit with Excessive Fee Lawsuit
Koch Industries is now charged with excessive recordkeeping fees by current and former plan participants in the Georgia-Pacific Hourly Plan. The lawsuit against Koch Industries, Koch Business Solutions, and the Koch Benefits Administrative Committee alleges…
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Estee Lauder Faces 401(k) Excessive Fee Lawsuit
Former plan participants of Estee Lauder’s 401(k) Savings Plan have filed a class-action lawsuit against the company, its board of directors, and the plan’s investment committee, alleging the company breached their fiduciary duties under the…
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How to Effectively Handle DB Plans Through Covid-19
Defined Benefit, or DB plan sponsors were immensely impacted when the market was pummeled by the COVID-19 crisis. It is predicted that the volatility of the marketplace will maintain for a while. As such, plan…
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Plan Sponsors Specifically Threatened by Cyber Attacks
Retirement plans and, specifically, their plan sponsors are being threatened more and more by cyber attacks. Recordkeepers, custodians, and third party administrators are being attacked due to all the valuable personal data they harbor and…
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DOL Proposal Fortifies Fiduciary Role in ESG Investing
According to a new proposed rule from the Labor Department, ERISA plan fiduciaries are not allowed to invest in ESG vehicles that take on more risk and sacrifice investment returns. The rule, published Tuesday night,…
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Fidelity Investments Reaches Settlement in ERISA Lawsuit
Fidelity Investments just reached a settlement with former plan participants in the firm’s 401(k) plan, who accused plan fiduciaries of violating ERISA laws. Filed on June 18 in U.S. District Court in Boston, the plaintiffs…
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Excessive Fee Lawsuit Targets RK Fees
In the U.S. District Court for the Southern District of Ohio, a lawsuit was filed by plaintiff-participants Gregory Stark, William Gaff and Michael Lewin as representatives on behalf of participants in the $2.9 billion Keycorp…
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Colorado’s Savings Plan Offers Employer Mandate
Colorado is expected to join states across the country in having a state-sponsored retirement savings plan for private sector employees, including a mandate for employers with greater than five workers that do not provide a…
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