The more information you know about your plan the better off you will be because your retirement plan account is very likely going to be one of your largest assets over the course of your life if not the largest. If you are new to saving for retirement or new to a plan this is a […]
Top Five Questions You Should Ask About Your 401k Plan (updated 2021) Read More »
Disputes with financial advisers are common, particularly in periods of economic decline and volatility. When things are good most people do not carefully watch what their financial adviser or broker is doing. When things turn south people look to their financial advisers to help them out and problems are uncovered. Sometimes the complaints about financial
Can you sue your financial adviser under the DTPA in Texas? Read More »
401k excessive fee litigation has been an active area of ERISA litigation for over a decade with 401k participants arguing the plan administrator–along with various other plan fiduciaries–breached the duty to prudently manage the investment options of the plan. Most of these cases argue the plan administrator failed to select investments with reasonable fees, particularly
Vanguard funds targeted in new 401k excessive fee litigation Read More »
As somebody who spent a decade working in employee benefits and now practices employee benefits law, I have an understanding of the employee benefits industry. When I saw WFAA in Dallas covering a report about retirement savings I couldn’t pass up the opportunity to fact-check. Predictably, the piece mixes a little truth with a lot of
Dissecting fact and fiction from a recent report on retirement savings Read More »
401k fees have come into focus as one of many ways the financial services industry leeches money from the investors. That focus turned into litigation by participants against their plans (and plan service providers). Eventually the Department of Labor instituted fee disclosure rules that require plan service providers to break down fees charged to the
Should I be concerned about 401k fees? Read More »
By now you received fee disclosure statements on your 401k, ESOP, 403(b) and profit sharing plans. These fee disclosure statements, known as 404a5 Participant Disclosures, ensure these retirement plans provide plan participants with a minimum amount of information about the fees charged by plan investments and fees paid by the plan (often from those investment fees)
Retirement Plan Participant Disclosures Read More »
It depends. Generally you cannot hold anybody else responsible for market losses on your investments. However, there are some situations where another party may be responsible for your investment losses. Some claims against brokers do not relate to market losses but to other negligent or fraudulent acts by a broker or adviser. When considering lawsuits
Can I sue my Texas broker for investment losses? Read More »
By now you received fee disclosure statements on your 401k, ESOP, 403(b) and profit sharing plans. These fee disclosure statements, known as 404a5 Participant Disclosures, ensure retirement plans provide participants with a minimum amount of information about the fees charged by plan investments and fees paid by the plan (often from those investment fees) to companies that
ERISA Retirement Plan Participant Disclosures Read More »
Are you aware of the Summary Plan Description (SPD)? If you are an employee or a plan participant in a retirement or health plan, you should be familiar with this document. An SPD provides important information about the benefits, rules, and procedures of a retirement or health plan. In this article, we will discuss what
What is an Summary Plan Description? Read More »
You may have many reasons to dispute your benefit plan, such as 401k or pension. You may disagree with the facts used to calculate your benefits, the formula used to calculate your benefits, an investment option or distribution opportunity denied. ERISA lays out a specific set of rules that plans must follow. You must comply
What can I do to dispute my benefit plan? Read More »
Employers operate 401k plans at a cost. Like other labor expenses (hiring process, salary, vacation pay, etc.) employers have to pay for compliance with labor and employment laws. Benefit plans are somewhat unique. Under ERISA employers can shift the cost of plan administration from the plan sponsor to plan beneficiaries. 401k plan fees often are
401k Plan Fees – What Are They and Do They Matter? Read More »
401k fee disclosure was a project in the works for many years, going back to the mid-2000s. Eventually the Department of Labor promised Congress it would create regulations requiring plans to disclosure fees charged by service providers. The purposes are two-fold. First, disclosures help plan administrators figure costs so they can assess whether fees are
401k Fee Disclosure: What Does It All Mean? Read More »