FiduciaryIssues.com
  • Start HERE
  • Our PURPOSE
  • Our METHODS
  • Blog and Industry INTEL
  • Contact US
  • Freebies and GOODIES
  • Partnered with MillenniuM
  • Sign In
  • Create Account
  • My Account

  • Signed in as:

  • filler@godaddy.com

  • My Account

  • Sign out

FiduciaryIssues.com

Signed in as:

filler@godaddy.com

  • Start HERE
  • Our PURPOSE
  • Our METHODS
  • Blog and Industry INTEL
  • Contact US
  • Freebies and GOODIES
  • Partnered with MillenniuM

Account

  • My Account

  • Sign out

  • Sign In
  • My Account

OUR PURPOSE:

Our PURPOSE

FiduciaryIssues.com is a forum that shares timely and relevant information with individuals responsible for serving as fiduciaries to ERISA Defined Contribution Qualified Retirement Plans. We also look to support and educate trusted advisors to fiduciaries including CPAs and Risk Managers.  

In partnership with industry experts and local consultants our collective purpose is to educate decision makers about:

  • Fiduciary roles and responsibilities
  • Best practices for 401k management
  • How to protect personal and corporate assets
  • Pending litigation and fact patterns
  • Industry trends and topics

Litigation:

Litigation firms have created very profitable business models by soliciting employees to sponsor class action lawsuits against the fiduciaries of 401k and 403b plans.

   

  •  Employers have paid $2.3 Billion in settlements for class action lawsuits since 2016. 
  • Over 90 lawsuits where filed against Defined Contribution Plans for excessive fees alone in 2020.; only about 20 lawsuits where filed in all of 2019. (350% increase)


Source: Bloomberg Law dockets/EuclidSpecialty

Why are 401k Fiduciaries being sued? For breaching fiduciary duties:

  • Failing to use the least expensive share class of mutual fund available
  • Failing to negotiate administrative fees
  • Failing to monitor investment performance
  • Failing to replace underperforming investments
  • Failing to benchmark administrative costs


Source: Chubb and The Groom Law Group – White Paper 

  • Start HERE
  • Our PURPOSE
  • Our METHODS
  • Blog and Industry INTEL
  • Contact US
  • Partnered with MillenniuM

FiduciaryIssues.com

Copyright © 2022 FiduciaryIssues.com - All Rights Reserved.


  

FiduciaryIssues.com does not provide investment, tax, legal or accounting advice. Materials have been prepared for educational and informational purposes only, and are not intended to provide, and should not be relied upon for investment, tax, legal or accounting advice. You should consult legal, tax and investment advisors before engaging in any transaction.  The views and opinions expressed in this blog are those of the authors and do not necessarily reflect the official policy or position of FiduciaryIssues.com. Articles shared are for informational and educational purposes only and do not necessarily reflect the official policy or position of FiduciaryIssues.com.  Any assumptions or observations made are not reflective of the position of any entity other than the author(s).   

FiduciaryIssues.com does not market or sell retirement plans or investments and is not licensed or registered with FINRA or the SEC.

This website uses cookies.

We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.

Accept