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ESG is a broad, sweeping construct, and in its most comprehensive form touches on a wide variety of elements essential to corporate governance, sustainability, and returns. But there are skeptics, if not to the efficacy of the focus, to its impact on portfolios. While individuals come to this... READ MORE
For the fourth month in a row, a relative newcomer to excessive fee litigation has brought suit against a multi-billion-dollar 401(k) plan. The allegations are familiar — that the fiduciary defendants breached their duties under ERISA by “selecting and retaining imprudent share classes and... READ MORE
A federal magistrate judge has recommended tossing an excessive fee suit against a $4 billion 401(k) plan. While the recommendation still requires the signoff of a district judge,[1] U.S. Magistrate Judge Stephen C. Dries basically recommended granting Nestle’s — the $4 billion plan in question —... READ MORE
Noting that “Plaintiffs fail to plausibly allege the Committee breached its ERISA-imposed fiduciary duty by charging unreasonable recordkeeping fees” — another excessive fee suit has been dismissed. The plaintiffs here — Keith K. Kruchten, Angel D. Muratalla and William Begani — sued on behalf of... READ MORE
ESG is often thought of in the same framing as socially responsible investing, or SRI. While there are some potential overlaps in focus, ESG is different—and arguably very different.  Environmental, social and governance (ESG)-focused investing has proven to be one of the more controversial — and... READ MORE
You may have missed it, but there’s been a bit of a “hub-bub” brewing on social media…about the impact of, and perhaps even the utility of, social media. Here’s some thoughts — and some tips.  JD Carlson of Retireholics “fame” kicked things off with a post intriguingly titled “Forget About Social... READ MORE
Litigator Jerry Schlichter has been sued…for a breach of fiduciary duty. According to a report in the St. Louis Post-Dispatch, Schlichter (and his firm) has been sued by partner Roger Denton—the third name in St. Louis law firm Schlichter, Bogard and Denton—alleging he’s been cheated out of at... READ MORE
The U.S. Department of Labor has unveiled its much-anticipated final ESG rule that it says will allow “plan fiduciaries to consider climate change and other environmental, social and governance factors when they select retirement investments and exercise shareholder rights, such as proxy voting.”... READ MORE
While it’s the celebration following a successful harvest held by the Pilgrims and members of the Wampanoag tribe in 1621 that provides most of the imagery around the holiday, Thanksgiving didn’t become a national observance until much later. Incredibly, it wasn’t marked as a national observance... READ MORE
The suit, which had alleged that “…many managed account services merely mimic the asset allocations available through a target date fund while charging additional unnecessary fees for their services,” has announced a cash settlement. The settlement had been announced back in September by the... READ MORE
The academics are at it again. In a paper provocatively titled “The Life-Cycle Model Implies that Most Young People Should Not Save for Retirement” no fewer than four of them take 48 pages to make that case. The “trade press” breathlessly intoned “Most Young People Should Not Save For Retirement... READ MORE
An excessive fee suit involving proprietary funds claims that fiduciary breaches not only undermined participant retirement security but played a role in a recordkeeping acquisition. The plaintiff suing here[1] is Judy Lalonde, a participant in the MassMutual Thrift Plan. The suit claims that the... READ MORE
I’ve spent my entire working career working with retirement plans — but most of it not focused on a retirement plan of my own. In that sense, I am perhaps like many, maybe most of you. Oh, I thought about retirement (a lot, just not mine), maxed out my 401(k) (when I wasn’t co-funding college... READ MORE
If you have turned on a TV, walked by a radio, driven down a residential street, gotten an unsolicited text or answered a phone (or more likely let it go unanswered) in the past month, you will, of course, be aware that our nation officially went to the polls. I say “officially,” but of course,... READ MORE
A recordkeeper that has sued the Labor Department based on its comments regarding cryptocurrency in defined contribution plans has told a federal judge it’s fine with dismissing its suit—if the court will hold the agency to its previous statements. Basically, the ForUsAll plaintiffs—a 401(k)... READ MORE
The parties in another excessive fee suit have come to terms following work with a “respected mediator.” The plaintiffs here (In re: LinkedIn ERISA Litigation, case number 5:20-cv-05704, in the U.S. District Court for the Northern District of California) are two former and one current participant... READ MORE
COVID notwithstanding, the retirement plan industry has seen a record increase in court filings and litigation the past few years — and a recent session at the ASPPA Annual National Conference explored those issues and the underlying causes. The session — led by Kizzy Gaul, Esq, ERISA Attorney at... READ MORE
The parties in another excessive fee suit have come to terms six months after getting the green light to go to trial. In the U.S. District Court for the Eastern District of Wisconsin the parties noted that on Sept. 13, 2022, they “…mediated before private mediator Bob Meyer of JAMS, and reached a... READ MORE
“…after meaningful motion practice, discovery, and arm's-length negotiations by experienced counsel, including a private mediation with an experienced neutral mediator,” the parties in an excessive fee suit have come to terms — in less than a year. The parties here — plaintiffs Trudy Clark, Donna... READ MORE
The future is an uncertain thing, and planning for uncertainty inevitably involves making some assumptions. Here are seven that, done improperly, can — yes, derail your retirement realities. How Long You’ll Work Perhaps the most important assumption is when you plan to quit working, or perhaps... READ MORE