LPL not selling Worksite Financial Solutions 401(k) platform
July 27, 2018 01:00:00 AMLPL Financial will not sell its Worksite Financial Solutions 401(k) platform.
Fidelity backs away from being 'point in time' fiduciary for 401(k) plans
July 18, 2018 01:00:00 AMMetLife, Brighthouse sued for $500 million over missing pensioners
June 20, 2018 01:00:00 AMMetLife and Brighthouse Financial have been sued for failing to pay at least $500 million in retirement benefits to thousands of pension plan participants.
Vanguard extends target-date fund dominance with 'unbelievable' growth
March 06, 2018 12:00:00 AMVanguard Group has extended its grip on the target-date fund market, reaching $623 billion in assets at the end of 2017.
Capital Group, sponsor of American Funds, wins 401(k) lawsuit
January 26, 2018 12:00:00 AMCapital Group has won a lawsuit alleging the company profited at the expense of its employees by loading its 401(k) plan with costly in-house funds.
Fidelity charging new fee on Vanguard assets held in 401(k) plans
January 23, 2018 12:00:00 AMFidelity Investments has begun charging employers a fee on 401(k) assets held in Vanguard Group investment funds.
Wells Fargo sued, again, for using in-house funds in 401(k) plan
November 21, 2017 12:00:00 AMJust as Wells Fargo & Co. escaped from the jaws of one 401(k) lawsuit over in-house funds, it's now ensnared in another.
Wells Fargo sees big target-date outflows from mutual funds
November 20, 2017 12:00:00 AMTarget-date funds are on track for a near-record year, but Wells Fargo & Co. doesn't seem to be participating in the boom.
Prudential wins appeal of 401(k) fee lawsuit
October 12, 2017 01:00:00 AMPrudential Financial Inc. has again won a lawsuit alleging it breached its fiduciary duties by receiving revenue-sharing payments.
Vanguard outsources some 403(b) record keeping to Newport Group
August 07, 2017 01:00:00 AMMFS Investment Management sued over claims of self-dealing in 401(k) plans
July 10, 2017 01:00:00 AMMFS Investment Management has been sued for alleged self-dealing in its company 401(k) plans.
Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers
June 22, 2017 01:00:00 AMThe dismissal of a lawsuit against Voya Financial for its relationship with 401(k) robo-adviser Financial Engines could be a harbinger of success for other major retirement plan record keepers locked in similar legal battles.
Putnam, Fidelity win respective 401(k) lawsuits
June 20, 2017 01:00:00 AMPutnam Investments and Fidelity Investments have prevailed in separate legal fights centering on their fiduciary duty to retirement plans.
New York Life's MainStay lays off defined-contribution wholesalers amid challenging market
June 16, 2017 01:00:00 AMMainStay Investments lays off some of its wholesalers calling on retirement plan advisers and consultants, as the defined contribution market grows increasingly challenging.
Capital Group sued for self-dealing in its 401(k) plan
June 15, 2017 01:00:00 AMThe Capital Group Cos. is being sued for allegedly reaping profits from its 401(k) plan at the expense of plan participants.
Merrill Lynch and Morgan Stanley: A tale of two fiduciary 401(k) business models
March 24, 2017 01:00:00 AMEmpower telling 401(k) clients it won't be a fiduciary when DOL rule kicks in
February 28, 2017 12:00:00 AMEmpower Retirement, one of the largest record keepers of defined contribution plans in the U.S., is planning to send notices to its retirement plan clients affirming it does not intend to be a plan fiduciary if and when the Labor Department's conflict-of-interest rule's implementation phase begins.
J.C. Penney agrees to pay $4.5 million to settle stock-drop suit
January 06, 2017 12:00:00 AMJ.C. Penney is poised to pay $4.5 million to settle allegations over company stock in the firm's 401(k) plan, following a District Court's preliminary OK of the settlement.
Starwood Hotels targeted in 401(k) fee lawsuit alleging $29 million in damages
December 21, 2016 12:00:00 AMThe Starwood hotel chain is the most recent target in litigation alleging excessive 401(k) fees, with former employees claiming that high investment management and record-keeping costs caused retirement plan participants "well in excess of $25 million" in damages.
Fidelity targeted in another ERISA class-action suit
December 17, 2015 12:00:00 AMFidelity Management Trust Co. has been targeted in a class-action lawsuit for fiduciary breach under the Employee Retirement Income Security Act as a result of its alleged mismanagement of a stable value fund.