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Plan Sponsor Sued Over $6 Million Paid to Broker
FRA PlanTools Link to more items from this source
Mar. 13, 2014
"The plaintiffs allege that the broker ... received excessive fees for the allegedly minimal services provided to the plans.... The $6 million alleged paid in 2012 to the broker ... amounts to about 40 basis points on $1.42 billion. If it ends up being that this was a case of the runaway train that can happen when providers are paid with uncapped revenue sharing, ... this complaint should be a wake up call to plan sponsors everywhere with similar setups."

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