Thursday, August 5, 2016
Webinar: 401(k) Plan Excessive Fee Lawsuits
Reducing Your Risk
Frank Del Barto will review the current 401(k) excessive fee litigation environment, use a recent Minnesota collision repair company case as a teaching tool, and guide clients and friends of the Firm in strategies to help reduce 401(k) litigation risks via the use of plan committees, investment policy statements, and fiduciary liability insurance. This webinar is intended for executives and H.R. and benefits professionals who have 401(k) plan responsibilities or who are charged with benefit plan administration, corporate compliance and risk reduction strategies.
401(k) plans are not install and forget plans. For the last several years, Fortune 500 companies have been the target of ERISA lawsuits that allege that various plan fiduciaries (company presidents, chief financial officers, plan committees, H.R. and benefit professionals) breached their fiduciary duty owed to employee/plan participants by allowing excessive administrative and investment fees to be paid by employee/plan participants. For each "excessive fee" paid, an employee/participant has less money in his or her individual retirement account, resulting in the basis for the lawsuits.