"[T]he [Missouri District] court ruled that the corporate fiduciaries of a 401(k) plan violated their fiduciary duties by failing to monitor third-party administrative costs, negotiate plan rebates and prudently select and monitor investment options. The court held the fiduciaries liable for $35 million in damages, concluding that, although the fiduciaries' actions conformed to DOL regulations relating to fee disclosure, their failure to follow their investment policy statement, understand the payments being made under the plan and to investigate the best available investment alternatives resulted in a breach of fiduciary duties."  MORE >>