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A social media name brand now finds itself “linked” to a 401(k) excessive fee suit.
The plaintiffs here (Bailey v. LinkedIn Corp., N.D. Cal., No. 5:20-cv-05704, complaint 8/14/20) are two former, and one current participant of the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust. For...
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A recent analysis finds that while only 6% of HSA accountholders actively invest those funds—nearly two-thirds of those do so within the first year.
The analysis by the Employee Benefit Research Institute (EBRI) characterizes those early investors as “born,” and while what distinguishes them...
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In a remarkably short period, an excessive fee suit involving proprietary funds has settled for what may be the largest monetary settlement among those cases to date.
The suit—filed on Feb. 15, 2019 by plaintiff (and former McKinsey plan participant) Tushar Bhatia against McKinsey and MIO (MIO...
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A 4½-year-old suit regarding the lack of a stable value alternative—where a judge once ruled that an $8.8 million settlement was insufficient—has been decided in favor of the plan fiduciaries.
According to U.S. District Judge John McBryde’s recitation of the case background, the American...
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We’ve only just passed the effective date for the new e-delivery rules—but the campaign to undermine their impact is already underway.
Coincident with the official effective date of the new rules, the Pension Rights Center, a pension advocacy group, has just unveiled an “Ask for Paper” campaign...
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For reasons that elude me—other than perhaps because it has a “click bait” headline—the folks at Bloomberg recently published an “op-ed” titled, “401(k) Plans No Longer Make Much Sense for Savers.” Sadly, it’s gotten some attention, aided and abetted even by industry publications, some of which...
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On Oct. 22, the Department of Labor (DOL) released a proposed rule that would provide the ability to default participants into electronic disclosure of certain required participant documents. This week, we’d like to know what you think, and how you’d improve/modify that proposal, if at all.
As...
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