JD

Millennials have had a rough week of it, at least in the financial press. First there was a report that they had established asset allocations that mirrored that of their grandparents (the respondents apparently never heard of a target-date fund). Then a separate survey that indicated they (70% of... READ MORE

One of the first excessive fee suits filed against university 403(b) plans has (finally) come to a conclusion with a jury verdict in favor of the fiduciary defendants—with an odd twist (or two). The suit against Yale University was one of the first to be filed in this area—and by Schlichter Bogard... READ MORE

A federal judge has dismissed a multi-billion plan fiduciary's motion to dismiss an excessive fee/fiduciary breach suit.   The defendants in this case—filed in the U.S. District Court for the Eastern District of Michigan in early 2021—are the fiduciaries of the Magna Group of Companies Retirement... READ MORE

The terms of a quickly settled excessive fee suit involving a 403(b) plan have come to light. The plan fiduciaries here are Springfield, Massachusetts-based Baystate Health Inc. — and they were sued just last Nov. 17 by participant-plaintiffs Michael Chechile and Sonia Lopez (who were represented... READ MORE

Following a United States Supreme Court directive, a federal court has reconsidered its earlier conclusions in an excessive fee case. Now, it’s been awhile, but you may recall that the case[1] (April Hughes et al. v. Northwestern University) had been dismissed by this same Seventh Circuit back in... READ MORE

A $1.6 billion 403(b) plan has settled an excessive fee suit for $6 million. The suit — brought by participants Susan McNeilly and Carla Martz of the Spectrum Health System 403(b) plan and represented in that action by the law firm Capozzi Adler[1] — had made the “usual” assortment of allegations... READ MORE

The parties in an excessive fee suit have struck a deal — mere months after the suit was filed. The plan fiduciaries here are Springfield, Massachusetts-based Baystate Health Inc. — and they were sued just last Nov. 17 by participant-plaintiffs Michael Chechile and Sonia Lopez (who were... READ MORE

Today is Valentine's Day — and, as usual, there’s been the typical seasonal promotions for flowers, candy, and even pajamas.  I’ve been pretty good over the years remembering those type events — anniversaries (wedding AND dating), birthdays and, yes — Valentine’s Day. But sometimes the time gap... READ MORE

The parties in one of the first university 403(b) excessive fee suits — by participant-plaintiffs represented by the Schlichter law firm — has come to terms on the eve of going to trial.  The suit, filed in August 2016, involved two plans sponsored by the University of Southern California (the... READ MORE