Fiduciary duty is coming to the forefront via actions and a decision by the Southern District Court of New York (the “Court”). The Court recently addressed several key issues put-forth in ERISA-based lawsuits. These lawsuits targeted the actions of multiple plan service providers.
One lawsuit includes a claim that defendants – Teachers Insurance and Annuity Association of America and TIAA-CREF Individual & Institutional Services, LLC (collectively, the “Provider”) – acted as fiduciaries when recommending participants rollover plan assets. Another lawsuit addresses claims over the unauthorized uses of plan information available.
To learn about these cases – view Fred Barstein’s observations at www.WealthManagement.com’s 401kRealTalk.
