White Paper / Retirement, Risk Management
Fiduciary Liability Claim Trends

Class Actions Alleging Excessive Fees Paid to Service Providers Remain the Marquee Fiduciary Liability Risk

Allegations of breach of fiduciary duty based on payment of higher-than-reasonable fees to ERISA plan service providers are becoming more common. In the past 18 months, at least 38 ERISA class actions have been filed. In the past, excessive-fee ERISA litigation targeted large plans with at least $2 billion in assets. Smaller ERISA plans are now being targeted and these class actions are expensive to defend. The insurance marketplace has not yet reacted negatively to growth of excessive-fee litigation. Insurers continue to offer attractive pricing and retentions for most buyers.

Other topics covered include:

  • An anticipated drop  in ERISA stock-drop suits because of a very recent decision of the US Supreme Court
  • Uncertainty concerning new rule expanding definition of “fiduciary” under ERISA
  • Recoveries by the Employment Benefit Security Administration

Download the paper to read more.

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