The Employee Benefit Security Administration is closing fewer civil investigations into 401(k) plans but it’s recovering more money from firms that improperly oversee their employee pension schemes.
Nearly a year after 401(k) participants accused the plan’s fiduciaries of breaching their fiduciary duty by not searching for lower cost investment options, a judge dismissed the complaint.
Many claims filed by former employees have a very low chance of success, but that does not eliminate the need for the employer to put in the time and money to fight them.
Senior vice president of retirement and compensation policyThe ERISA Industry Committee
A holistic approach to regulations that impact defined benefit plans is the only way to ensure employees are secure in their post-work years, says the ERISA Industry Committee.
