{"id":7048,"date":"2023-10-18T09:04:20","date_gmt":"2023-10-18T13:04:20","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=7048"},"modified":"2023-10-18T09:04:20","modified_gmt":"2023-10-18T13:04:20","slug":"allianz-settles-401k-plan-suit","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=7048","title":{"rendered":"Allianz settles 401(k) plan suit"},"content":{"rendered":"<p>Suing companies that have their own proprietary investments in their own 401(k) plan is like shooting fish in a barrel.<\/p>\n<p>Allianz Asset Management of America will pay $7.5 million to settle a class action 401(k) lawsuit filed by current and former employees, according to a U.S. District Court in Southern California.<\/p>\n<p>Participants sued claiming that the company\u2019s 401(k) plan offering of proprietary investments violated ERISA\u2019s rules against self-dealing.<\/p>\n<p>In addition to the payment, Allianz also agreed to hire an independent investment consultant to evaluate and review the plan.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Suing companies that have their own proprietary investments in their own 401(k) plan is like shooting fish in a barrel. Allianz Asset Management of America will pay $7.5 million to settle a class action 401(k) lawsuit filed by current and &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=7048\">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\/7048"}],"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=7048"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/7048\/revisions"}],"predecessor-version":[{"id":7049,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/7048\/revisions\/7049"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}