{"id":4497,"date":"2020-02-07T12:27:20","date_gmt":"2020-02-07T17:27:20","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=4497"},"modified":"2020-02-07T12:27:20","modified_gmt":"2020-02-07T17:27:20","slug":"cerner-is-the-next-big-401k-lawsuit-target","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=4497","title":{"rendered":"Cerner is the next big 401(k) lawsuit target"},"content":{"rendered":"<p><span class=\"s3\">Cerner Corporation is the latest 401(k) lawsuit target over its retirement plan, citing high fees and a breach of fiduciary duty.<\/span><\/p>\n<p><span class=\"s3\">Cerner\u2019s plan has over $2 billion in assets. Plaintiffs allege that Cerner breached its fiduciary duty by failing to objectively and adequately review the plan\u2019s investment portfolio with due care to ensure that each investment option was prudent, in terms of cost; and maintaining certain funds in the plan despite the availability of identical or similar investment options with lower costs and\/or better performance histories.<\/span><\/p>\n<p><span class=\"s3\">The complaint is short on facts. it states that the plaintiffs didn\u2019t know all the facts necessary to understand that Cerner breached its fiduciary duties in violation of ERISA until shortly before the suit was filed. Besides, it says the plaintiffs didn\u2019t have and don\u2019t have actual knowledge of the specifics of the defendants\u2019 decision-making process concerning the plan \u201cbecause this information is solely within the possession of defendants before discovery.\u201d<\/span><\/p>\n<p><span class=\"s3\">The complaint cites the usual expensive per head charges, as well as the belief that since passive funds are more expensive, Cerner\u2019s use of it is a breach of fiduciary duty.<\/span><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Cerner Corporation is the latest 401(k) lawsuit target over its retirement plan, citing high fees and a breach of fiduciary duty. Cerner\u2019s plan has over $2 billion in assets. Plaintiffs allege that Cerner breached its fiduciary duty by failing to &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=4497\">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":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4497"}],"collection":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4497"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4497\/revisions"}],"predecessor-version":[{"id":4498,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4497\/revisions\/4498"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}