With 401(k) litigation increasing, plan advisors and plan sponsors need to know the latest laws as well as strategies attorneys are using to sue employers and advisors. BenefitsPRO's legal coverage includes news, analysis and updates on cases.
Federal Reserve officials delivered their fourth straight 75 basis-point interest-rate increase while citing that "ongoing increases" will likely be needed to bring rates to a level that is "sufficiently restrictive to return inflation to 2% over time."
A federal judge in New York has rejected a lawsuit by a participant who accused the company and plan fiduciaries of violating ERISA by mismanaging the plan.
"Financial institutions must document the reasons that a rollover recommendation is in the best interest of the retirement investor and provide that documentation to the retirement investor," says WTW report.
"This allegedly excessive annual fee would represent a concrete and personal injury to a plaintiff regardless of the funds in which he or she invested," the judge said.