{"id":5361,"date":"2021-03-05T08:41:07","date_gmt":"2021-03-05T13:41:07","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5361"},"modified":"2021-03-05T08:41:07","modified_gmt":"2021-03-05T13:41:07","slug":"coca-cola-mep-sued","status":"publish","type":"post","link":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5361","title":{"rendered":"Coca-Cola MEP sued"},"content":{"rendered":"\n<p>Multiple employer plans (MEPs) have become larger targets for litigation when they achieve a plan of substantial size.<\/p>\n\n\n\n<p>An employee of Heartland Coca-Cola Bottling Company, LLC, an employer that participated in the Coca-Cola Bottlers\u2019 Association 401(k) Retirement Savings Plan, a multiple employer plan has sued the Coca-Cola Bottlers\u2019 Association (CCBA), a Georgia corporation headquartered in Atlanta, whose members consist of all 65 U.S. independent bottlers of Coca-Cola. The MEP covers about 19,000 participants, and had nearly $800 million in assets spread across 24 investment options, including a Coca-Cola Common Stock Fund.<\/p>\n\n\n\n<p>The complaint for the lawsuit alleges that the Plan:<\/p>\n\n\n\n<ul><li>served up target date funds that directed a substantial portion of their assets to an S&amp;P 500 fund that charged more than seven times the market rate;<\/li><li>knew or should have known of the existence of collective trusts and should therefore have promptly identified the prudence of transferring the Plan\u2019s funds into these lower cost alternative investments<\/li><li>failed to take advantage of lower-cost shares and utilize lower-cost collective trust versions of the investment options they did offer;<\/li><li>failed to consider and select lower cost investment options that were similar to or in the same investment style as those being offered in the Plan; and<\/li><li>failed to timely switch to an investment option that was the same investment in a different wrapper at a much lower price.<\/li><\/ul>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Multiple employer plans (MEPs) have become larger targets for litigation when they achieve a plan of substantial size. An employee of Heartland Coca-Cola Bottling Company, LLC, an employer that participated in the Coca-Cola Bottlers\u2019 Association 401(k) Retirement Savings Plan, a &hellip; <a href=\"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5361\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5361"}],"collection":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5361"}],"version-history":[{"count":1,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5361\/revisions"}],"predecessor-version":[{"id":5362,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5361\/revisions\/5362"}],"wp:attachment":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5361"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}