ERISA Claim Knocked Off the Pedestal - Provider of 401(k) Investment Platform Held Not to Have Fiduciary Liability

January 22, 2016

Over the years, U.S. employers that sponsor “401(k)” and other retirement plans, and plan fiduciaries, have increasingly become the subject of significant and potentially expensive litigation under the Employee Retirement Income Security Act of 1974 (“ERISA”). Examples of ERISA litigation that seems to have had a particularly significant market impact include, for example, so-called “stock drop” cases and cases in which it is alleged that excessive fees have been paid in connection with a plan’s investment alternatives.

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