The parties in one of the oldest excessive fee suits have finally come to terms. Those parties – Tussey v. ABB – settled for $55 million which, if approved by a federal judge, would bring to conclusion litigation that was filed in 2005 by Schlichter Bogard & Denton.  The suit had alleged that... READ MORE

Ever since passage of the Economic Growth Tax Relief and Recovery Act of 2001 (EGTRRA), individuals who are age 50 or over at the end of the calendar year can make annual catch-up contributions – as much as $6,000 in 2019.  The provision was designed to allow workers to “catch up” on contributions... READ MORE

Another investment manager sued by its own participants for running its plan as a “test vehicle for self-gain” has struck a deal with plaintiffs. This time the money manager is Eaton Vance, who was sued by a participant in its $434 million plan for loading up its 401(k) plan with relatively... READ MORE

If it’s March, then it must be time for March Madness – and whatever you’ve seen in the betting sheets, NAPA-Net readers have their own opinions. Bracket Talk Gonzaga was (barely) the top pick of readers to win the West bracket, pulling the support of 35%, just ahead of the 29% who were placing... READ MORE

A new report claims that participants and plan sponsors are keen on ESG – but apparently not enough to do much about it. The report, by Cerulli Associates, cites a 2018 survey of 1,000 active 401(k) plan participants among which “more than half” agreed with the statement, “I prefer to invest in... READ MORE

While the so-called “stretch” match has been touted as a mechanism to encourage higher savings rates with no additional cost to the employer, a recent study suggests that the stretch match has its limits. This week we asked NAPA-Net readers to share their experience(s). With a stretch match,... READ MORE

What’s in a fund name? More – and less – than you might imagine.  According to a new paper by academics at Kansas State, Saint Louis University and Seton Hall, along with a researcher at the Ipsos Behavioral Science Center, when a participant searches through her plan’s menu of investment options... READ MORE

“After vigorous advocacy and negotiation,” the parties in a 403(b) university excessive fee suit have come to terms. The settlement – stuck between participant-plaintiffs Diane G. Short, Judith Daviau and Joseph Barboza and Brown University – consists of a $3.5 million cash payment and “other,... READ MORE

There were three interesting reports published over the past week, which offered insights into ways to increase savings (or not), how to retain those accounts (or not), as well as an updated perspective on how all those comings and goings are adding up. The first to grab my attention was the... READ MORE