MLchartDataset catalogue

Excessive fee claims

Term · Insurance and risk management · MLC-T-INS-001380

Lawsuits, usually class actions under ERISA, alleging that the fiduciaries of a 401(k) or 403(b) plan breached their duties by letting the plan pay unreasonable fees to recordkeepers and investment managers, or by keeping costly funds that trailed their benchmarks. Plan participants bring them against the sponsor, committee members, and other fiduciaries. Fiduciary liability policies respond to the defense costs and settlements.

Table 1. Record
IdentifierMLC-T-INS-001380
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001380",
  "term": "Excessive fee claims",
  "field": "Insurance and risk management",
  "definition": "Lawsuits, usually class actions under ERISA, alleging that the fiduciaries of a 401(k) or 403(b) plan breached their duties by letting the plan pay unreasonable fees to recordkeepers and investment managers, or by keeping costly funds that trailed their benchmarks. Plan participants bring them against the sponsor, committee members, and other fiduciaries. Fiduciary liability policies respond to the defense costs and settlements.",
  "url": "https://mlchart.com/terminology/insurance/excessive-fee-claims/"
}

Record 1,226 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.