JD

While we tend to remember October’s tumbles, it’s September that tends to be the problem for U.S. stock markets. What happened to the average 401(k) this time? Sure enough, despite a long stretch of gains for the stock market this year, September turned out to be a bit of a downer; the S&P 500... READ MORE

It’s often said that “if it bleeds, it leads”—and, according to a new report, it may also mislead. The study—by folks at the Center for Retirement Research at Boston College—looked at coverage of Social Security’s finances, noting that while the 2020 Trustees Report projects that the Social... READ MORE

I was recently taken to task for my recent column about retirement savings regrets. More precisely, my column about the regrets expressed in a recent American Century survey drew the attention of Faith Teope in a LinkedIn post titled, “Dear Finance Experts: We Would Listen, But We Don't Care.” In... READ MORE

The fiduciaries of another billion-dollar 401(k) plan have found themselves in the cross-hairs of an excessive fee suit—and the fees for the managed accounts have been called out for special scrutiny.  Claiming that he (and other participants of the plan “suffered ongoing financial harm as a... READ MORE

My wife and I recently celebrated our wedding anniversary—it was a “big” one, one of those that almost takes your breath away thinking about how rich your life together has been. If someone had asked on my wedding day if I thought I’d still be alive and married this many years hence, I’m sure that... READ MORE

Can a 401(k) account be accessed as restitution for embezzlement from the company that sponsors the 401(k)?  In the case at hand (United States v. Frank, 4th Cir., No. 20-6706, 8/10/21) 2007 to 2017, Jon Lawrence Frank embezzled over $19 million from his former employer, NCI Information Systems,... READ MORE

An excessive fee suit that had been dismissed—and wound up triggering a sanction (and fine) against the plaintiffs’ counsel—has once again fallen short in its appeal. The suit—which was dismissed last August—was actually two suits, brought by participants (Obeslo, Hall and Gorrell-Deyerle) in... READ MORE

A couple of Saturdays back I discovered that one of my online accounts had been “hacked.”  The good news is that I “discovered” this via transaction emails confirming what appeared to be purchases—a half dozen of them… for various, small-ish (though not small) amounts… all about 4:00 a.m. on a... READ MORE

(Another) group of participants in (another) multibillion-dollar 401(k) plan have sued plan fiduciaries for their decision to rely on fund options managed by their employer. The plaintiffs in this case are Rita Kohari, John Radolec and Mohani Jaikaran, who, “individually and as representatives of... READ MORE