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The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.
Vanguard says the partnership enables it to modernize its core recordkeeping platform and move faster on redesigning its participant experience.
The basic contention of the lawsuit was that the company acted in a manner contrary to ERISA’s fiduciary requirements when it forced terminated employees to liquidate company stock holdings at an unfair price.
The most obvious potential conflict of interest for advisers setting up or serving pooled employer plans is if their practice is affiliated with the investments being selected—but there are other potential pitfalls to acknowledge.
Investments
| Largest Funds in this Plan | Allocation of Assets | 1 YR Rank in Category |
|---|---|---|
| State Street Domestic Equity | 29% | |
| State Street Global Advisors State Street Target Retirement | 25% | |
| State Street Small/Mid Cap Index | 12% | |
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Providers
Articles and Questions
Boeing Fee Settlement Highlights the High Bar for Large Plans
Boeing Offers a Near Perfect Retirement Plan ModelIn most respects Boeing’s retirement offering is a great model of how to run a large retirement plan. Participants in Boeing’s 401(k) plan are beneficiaries of a participant-friendly design with immediate access, automatic enrollment, immediate ves
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