{"id":5676,"date":"2021-08-03T09:02:31","date_gmt":"2021-08-03T13:02:31","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5676"},"modified":"2021-08-03T09:02:31","modified_gmt":"2021-08-03T13:02:31","slug":"metlife-sued-over-proprietary-index-funds-in-401k-plan","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=5676","title":{"rendered":"MetLife sued over proprietary index funds in 401(k) plan"},"content":{"rendered":"\n<p>When you\u2019re a financial services company that offers proprietary mutual funds within your 401(k) plan, expect to get sued.<\/p>\n\n\n\n<figure><iframe width=\"728\" height=\"90\"><\/iframe><\/figure>\n\n\n\n<p>Current and former participants of the MetLife 401(k) Plan have filed a lawsuit alleging the plan\u2019s fiduciaries violated the Employee Retirement Income Security Act (ERISA)\u2019s duties of loyalty and prudence by using MetLife Index funds in the plan.<\/p>\n\n\n\n<p>According to the lawsuit, MetLife\u2019s action has cost plan participants millions of dollars over the period defined in the lawsuit. The complaint includes charts that show that the MetLife index funds are considerably more expensive than otherwise identical alternatives being used in other large plans. The complaint also alleges that the MetLife index funds were of lower quality than other options when it came to tracking the underlying index.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>When you\u2019re a financial services company that offers proprietary mutual funds within your 401(k) plan, expect to get sued. Current and former participants of the MetLife 401(k) Plan have filed a lawsuit alleging the plan\u2019s fiduciaries violated the Employee Retirement &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=5676\">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\/5676"}],"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=5676"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5676\/revisions"}],"predecessor-version":[{"id":5677,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5676\/revisions\/5677"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}