Retirement Plan Trustee? Read this!

SUMMARY-  Duke University may be liable:  they used multiple administrators, raising costs.  They had 400 investment options, limiting their ability to lower costs.  The Prudent Man rule comes into play again, and they failed to replace historically poor performing investments. – Reeve While several claims were dismissed, several were allowed to move forward.

Excessive Retirement Plan Fees

As an Accredited Investment Fiduciary, this is the compliance area that worries me the most.  In the last week, notice of suit has been filed against Everett Jones, Cornell University, Northwestern University, Columbia University and the University of Southern California.  These suits allege excessive fees, and alot of that comes from requiring “proprietary funds” in the plan.  A clear example of this …