It seems like every week, there is another major lawsuit against a plan sponsor and one of their service providers.<\/p>\n\n\n\n
Allegations of impropriety are just allegations until decided by a trier of fact of whether they are substantiated or not. Just because a plan sponsor and their service provider is being sued, doesn\u2019t mean they did anything wrong.<\/p>\n\n\n\n
ERISA litigators have to eat too and sometimes they pick cases that aren\u2019t going to put food on the table. I\u2019ve seen too many lawsuits against some big-time plan providers that I know will end up going nowhere because the service provider is alleged to have done something wrong is being sued because the ERISA litigator is considering that service provider is a fiduciary. Alleging that a service provider is a fiduciary is one thing, proving that is a lot harder.<\/p>\n\n\n\n
ERISA litigators like to go fishing and they like big fishes like Fidelity and Vanguard. Whether they catch them or not is a whole other story.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" It seems like every week, there is another major lawsuit against a plan sponsor and one of their service providers. Allegations of impropriety are just allegations until decided by a trier of fact of whether they are substantiated or not. … Continue reading