Another asset management firm has been accused of self-dealing in the administration of its 401(k) plan.
Members of the investment committee for Franklin Templeton’s 401(k) plan allegedly cost participants tens of millions in investment losses by stacking its plan with expensive and poorly performing proprietary investment options, according to court documents filed in U.S. District Court for the Northern District of California.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
