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New York Life Settles Lawsuit Over Alleged Excessive Fees in Its 401(k) Plans
Pensions & Investments
Feb. 20, 2017 "New York Life Insurance Co. has settled a class-action lawsuit for $3 million with participants in two company 401(k) plans ... Plan participants said two New York Life 401(k) plans should have searched for S&P 500 index funds that were cheaper than New York Life's MainStay S&P 500 fund. 'From 2010 to 2016, the plans' fiduciaries did not act in the best interests of the plans and their participants,' the lawsuit said." MORE >> |
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