Columbia Faces $100 Million Lawsuit Over Retirement Plan Mismanagement
Last Tuesday, a proposed class action lawsuit naming Columbia University was filed in the New York federal district court.
Participants
Morgan Stanley Faces $1.5 Billion Lawsuit for Mismanagement of Employee Retirement Funds
Morgan Stanley faces $1.5 billion lawsuit for mismanagement of employee retirement funds Submitted by Valerie Rogers on Sat, 08/20/2016 – 08:32 Morgan Stanley’s 401 (k) plan participants have filed a lawsuit claiming that the financial services major mismanaged the funds. The lawsuit claims that nearly 60,000 participants in Morgan Stanley’s fund faced significant financial loss as the fund …
Lawsuits Bring 401(k) Fees Into Question
Is 401(k) fee litigation over? Now that many of the cases contending that large 401(k) plans paid too high fees have been settled or decided, it would be tempting for plan sponsors that haven’t been sued to breathe a sigh of relief. They should not do so, because litigation continues unabated with new theories and targets.
401(k) Class-Action Litigation Update: 1st Circuit Holds “Float” Is Not a Plan Asset
Many ERISA 401(k) plan trustees act as intermediaries when participants request a disbursement. If plan assets are invested in funds, some fund shares will be exchanged for cash, and the cash will then “float” as it makes its way from fund to participant. During that process, the float may sit temporarily in a non-plan, non-participant account, and it might earn interest.