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Use of Relatively New CITs Challenged in Second Lawsuit
PLANSPONSOR; registration may be required 
July 7, 2020 "According to the complaint, instead of acting in the exclusive best interest of participants, Aon Hewitt, now known as Aon Investments USA, acted in its own interest by causing the plan to invest in Aon’s proprietary collective investment trusts (CITs) for Aon’s benefit. The [plan sponsor that appointed Aon Hewitt as an investment manager is] also accused of failing to use the plan’s bargaining power to negotiate reasonable fees for investment management services." [Miller v. Astellas US LLC, No. 20-3882 (N.D. Ill. complaint filed Jul. 1, 2020)] MORE >> |
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