Tibble v. Edison – The Gift That Keeps On Giving

Tibble v. Edison – The Gift That Keeps On Giving

By: David I Gensler, MSPA, MAAA, EA

A lawsuit that began in 2011 is finally approaching its conclusion. The plaintiffs claimed that the 17 investment options selected by the plan back in March of 1999 were retail funds instead of lower cost institutional shares. The funds remained in the plan beyond August 16, 2001. That date is particularly relevant since that is as far back as the statute of limitations could go.

The case went all the way to the Supreme Court. While the Supreme Court found neither for the plaintiff nor for the defendant, Read More

What traits in their plan’s advisor do plan sponsors value? Which ones should they value?

BY: David I Gensler, MSPA, MAAA, EA 

Which Qualities Plan Sponsors Do Value

A recent poll of plan sponsors wanted to know which services plan sponsors most value from their advisors. Asked to name their top three, two stood out: Read More

What Could Cause Your Plan To Be A Candidate For Excessive Fee Litigation?

By: David I Gensler, MSPA, MAAA, EA

There has been enough excessive fee litigation through the years that certain patterns have emerged. So what common traits do most of the excessive 401(k) fee litigation cases share?

The Plan Assets Are In The Multi-Billion Dollar Range – Nearly every lawsuit filed since 2006 has been against plans with assets in excess of $1 billion. That is not surprising.  These cases rarely go to trial.  They almost always get settled.  As Woodward and Bernstein were advised, just “follow the money.”  But given the enormous resources that these plans and the companies that sponsor them have, what has caused them to be so open to litigation and why did the plan sponsors almost universally choose to settle?  And what can smaller plans learn from their experiences?

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