"Some 14% of defined contribution plans surveyed in December ... reported that they had eliminated their managed account programs since late 2023.... Nearly 20% of the 165 lawsuits filed between 2019 and late 2022 alleging [ERISA] violations included a claim over managed account programs ... Of the suits including such claims, 42% alleged that the managed account service fees were excessive, while 31% claimed the managed accounts underperformed compared to other plan options."  MORE >>