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Transamerica Settles 401(k) Lawsuit for $5.4 Million
Chief Investment Officer [CIO]Link to more items from this source
June 30, 2021

"[T]he lawsuit claimed that over the course of nearly a decade, the plan's international equity and small core portfolios underperformed their benchmarks by approximately 30% and more than 15%, respectively. It also cited the retirement plan's own documents that showed that both portfolios and its mid-value portfolio underperformed their respective investment benchmarks over the past one, five, and 10-year periods." [Karg v. Transamerica, No. 18-134 (N.D. Iowa settlement agrmt. filed Jun. 23, 2021)]

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