Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Brief on Appeal Filed by Plaintiffs in Tussey v. ABB Case
Plan Tools, LLC May 15, 2013
"The following summary is taken directly from the Plaintiffs' brief: The district court properly found ABB breached its duties by [1] allowing Fidelity to receive excessive recordkeeping compensation through revenue sharing in the amount of $13.4 million.... [2] moving all participant investments from the stellar-performing Wellington Fund into the untested Fidelity Freedom Funds for no prudent and loyal reason and in violation of the IPS.... [3] selecting higher-cost share classes of Plan mutual funds... [4] The district court properly found Fidelity breached its fiduciary duties by earning income from Plan assets as they floated between accounts." [The full text of briefs filed to date can be found at the link.]
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