Sentences with phrase «fiduciaries by plan participants»
Please explain fiduciary responsibility and the successful lawsuits brought against plan fiduciaries by plan participants.
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Christopher M. Sulyma filed a lawsuit on behalf of two proposed classes of participants in the Intel 401 (k) Savings Plan and the Intel Retirement Contribution Plan, claiming that the defendants breached their fiduciary duties by investing a significant portion of the plans» assets in risky and high - cost hedge fund and private equity investments through custom - built target - date funds.
The gravamen of the complaint is that the asset - allocation models adopted by the retirement plans» investment committee departed dramatically from prevailing standards employed by professional investment managers and plan fiduciaries, and as a result, caused participants to suffer massive losses and excessive fees.
Plaintiff Christopher M. Sulyma, on behalf of two proposed classes of participants in the Intel 401 (k) Savings Plan and the Intel Retirement Contribution Plan, claims that the defendants breached their fiduciary duties by investing a significant portion of the plans» assets in risky and high - cost hedge fund and private equity investments.
According to the Investment Company Institute, over the past decade, the average expense ratio of actively managed equity funds has declined 21 basis points.2 With participant protection front and center from a regulatory perspective, there is a lot more riding on the investment decisions made by plan fiduciaries.
Such fiduciaries do not assume legal liability in the event a plan sponsor is sued by plan participants.
«By offering 3 (38) services that provide plans using our custom solutions with fiduciary support, more institutions and participants will have access to lifetime income solutions in their retirement plans.»
He regularly represents employers / plan sponsors, plan administrators and insurers in ERISA and fiduciary litigation involving health and welfare benefits, retirement benefits and compensation plans defending claims brought by individual participants or beneficiaries.
The Biggest Impact Will Be on IRAS A 401 (k) plan is administered by a fiduciary who selects and monitors the investment options available to participants in the plan.