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Top 3 Fiduciary Breach Articles of 2021 from 401kTV.com

401k FiduciaryFiduciary breach, fees, and litigation issues are a major concerns for retirement plan committees!  Fees and litigation also ranked high among 401kTV.com viewers this year.  With so many lawsuits focusing on retirement plans and retirement committees, it is worth a quick look at what was keeping fiduciaries up-at-night this year.

See what retirement committees were looking at on 401kTV…

1. 401(k) Fee Lawsuits Highlight Fiduciary Gaps

Fiduciary breach 401(k) fee lawsuits over investment fees continue to proliferate.  Northern Trust Corporation and Northern Trust Inc., as investment fiduciaries, have been added as defendants to a lawsuit.  The lawsuit alleges AutoZone 401(k) plan fiduciaries violated their duties as set forth in the Employee Retirement Income Security Act (ERISA).  Click here to read the full article.

2. Fee Litigation Costs Rising Despite Fiduciary Insurance Coverage

Fee litigation costs are following suit of many employer expenses.  401(k) plan fee litigation costs are rising, and employers may have to foot a hefty portion of the cost – to the tune of $10 million or more – before their fiduciary liability insurance kicks in.  The market for fiduciary liability insurance has been rocked by the proliferation of 401(k) plan excessive fee lawsuits.  Click here to read the full article.

3. Fiduciary Breach Claims Poised for Procedural Change

Fiduciary breach claims consume a tremendous amount of resources.  Can mandatory arbitration between retirement plan sponsors and participants stem the tsunami of fiduciary breach litigation?  The answer is, “Maybe.”  Click here to read the full article.

 

 

Steff Chalk

Steff Chalk

Managing Editor at 401kTV
Steff C. Chalk is Executive Director of The Retirement Advisor University, a collaboration with UCLA Anderson School of Management Executive Education. Steff also serves as Executive Director of The Plan Sponsor University and is current faculty of The Retirement Adviser University.
Steff Chalk
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