Robert Steyer
Robert Steyer is a Reporter at Pensions & Investments covering Defined Contribution. He Tweets at: @Steyer_PI
Robert Steyer is a Reporter at Pensions & Investments covering Defined Contribution. He Tweets at: @Steyer_PI
Participant argued that the plan could have offered a better-performing, nonproprietary TDF.
Decision involves two lawsuits related to University of Southern California retirement plans.
Plaintiffs given until July 30 to file amended complaint against executives of the $38.6 billion plan.
Persistent percentage of defined contribution plan participants contribute below the employer match threshhold.
Suit involved decline in price of company stock held in the 401(k) plan after regulators fined Wells.
The goal is usually described by employers as a way to attract and retain talent, but not all firms handle it the same way.
Plaintiffs alleged that offering 'artificially inflated' company stock in the defined-contribution plan violated ERISA.
Annual report also finds voluntary and default savings rates are converging.
No matter which option they choose, they risk getting hit with lawsuits.
'Professionals pretty much everywhere will probably outperform amateurs.'
