{"id":4509,"date":"2020-02-13T08:13:05","date_gmt":"2020-02-13T13:13:05","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=4509"},"modified":"2020-02-13T08:13:05","modified_gmt":"2020-02-13T13:13:05","slug":"shell-gets-sued-over-their-401k-plan","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=4509","title":{"rendered":"Shell gets sued over their 401(k) Plan"},"content":{"rendered":"<p><span class=\"s2\">Shell Oil, along with Fidelity is the target of a class action 401(k) lawsuit. As typical with a suit against a large billion-dollar 401(k) plan, plaintiffs allege that Shell failed to use the multi-<\/span><span class=\"s2\">billion dollar<\/span><span class=\"s2\"> 401(k) plan\u2019s bargaining power to benefit participants and beneficiaries in the form of lower recordkeeping and asset management fees.<\/span><\/p>\n<p><span class=\"s2\">The lawsuit also claims that Shell allowed Fidelity (the plan\u2019s recordkeeper) to use plan participants\u2019 highly confidential data, including Social Security numbers, financial assets, investment choices and years of investment history to aggressively market lucrative non-plan retail financial products and services, which enriched Fidelity at the expense of participants\u2019 retirement security. The lawsuit also alleges that Shell has retained more than 300 designated investment options in the plan, \u201cmost of which are Fidelity\u2019s proprietary mutual funds.<\/span><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Shell Oil, along with Fidelity is the target of a class action 401(k) lawsuit. As typical with a suit against a large billion-dollar 401(k) plan, plaintiffs allege that Shell failed to use the multi-billion dollar 401(k) plan\u2019s bargaining power to &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=4509\">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\/4509"}],"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=4509"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4509\/revisions"}],"predecessor-version":[{"id":4510,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4509\/revisions\/4510"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}