At least 11 companies, including Booz Allen Hamilton Inc., Citigroup Inc., and Microsoft Corp., have been named in a series of lawsuits going after a target-date index suite that is managed by BlackRock Inc.<\/p>\n
A big part of the lawsuits are targeting BlackRock\u2019s index suite is the low-cost \u201cto-retirement\u201d glide path the company\u2019s money managers have used to balance underlying investments.<\/p>\n
While to-retirement TDFs stop trading once the target retirement date has been reached, \u201cthrough retirement\u201d funds assume that 401(k) plan participants will keep their savings in the plan post-retirement. T<\/p>\n
With all this litigation on an index target date fund, we need some guidance from the Department of Labor. Otherwise, we will get more lawsuits.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" At least 11 companies, including Booz Allen Hamilton Inc., Citigroup Inc., and Microsoft Corp., have been named in a series of lawsuits going after a target-date index suite that is managed by BlackRock Inc. A big part of the lawsuits … Continue reading