Recorded September 26, 2017
Causes of Action, Defenses, Dismissals and Settlements, Lessons From 401(k) Claims
403(b) defined contribution plans for nonprofit educational, charitable or religious organizations are the newest wave in ERISA retirement fund litigation.
Fiduciaries for scores of major universities have been hit with suits alleging breach of fiduciary duty due to excessive fees, imprudent selection and monitoring of investment options, and underperforming plan investment options.
Plaintiffs claim that these high asset plans provide fiduciaries with the bargaining power to achieve low cost administrative and investment management services, but fiduciaries fail to prudently negotiate fees and expenses. Claims also allege the fiduciaries selected investment options that consistently underperform.
Listen as our authoritative panel of ERISA litigators reviews the recent wave of retirement plan litigation targeting Section 403(b) plans.
The panel will review these and other key issues:
- What are current trends in this wave of retirement fund litigation?
- What are the theories plaintiffs allege to support claims against 401(b) fiduciaries?
- How is the 401(k) litigation instructive for these new 403(b) claims, and how do the differences between the two types of plans distinguish 403(b) claims?
- What practices can fiduciaries adopt to lower their risk of losing a lawsuit?
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