New York, NY 10282
Litigation against ERISA plan fiduciaries for allegedly excessive 401(k) or 403(b) fees and expenses continues to grow. High fees and expenses can significantly affect the money available for employees when they retire. Recent media exposés by the New York Times and the Wall Street Journal have spotlighted the issue for workers nationwide. And American companies targeted for excessive 401(k) fees spent $120 million to settle the class action suits in 2018 alone.
Individuals at your company who exercise discretion with respect to plan investment options (including members of a designated committee) are fiduciaries; they must generally act prudently and for the exclusive benefit of participants and their beneficiaries. The 401(k) fee lawsuits allege that investment options with high fees or expense ratios—such as retail share classes or actively managed mutual funds—are imprudent. This presentation will discuss the straightforward things you can do to avoid or minimize the risks of being a defendant in a 401(k) or 403(b) fee class action.
For more information, please visit the event website.