In this episode of Expect an Expert, Henderson Brothers’ in-house counsel, Peter Horne, answers 4 questions about excessive fee litigation and its impact on insurance. An excessive fee lawsuit is when participants in a retirement plan allege that the plan sponsor (or other entities or individuals) breached their fiduciary duties by making the participants pay inflated fees as part of their retirement plan savings. Peter Horne may be reached at [email protected] or directly at (412) 754-3242.
00:46 What are excessive fee lawsuits?
02:00 Do most employers have to worry about these type of lawsuits?
03:28 What impact do these lawsuits have on the retirement plan sponsor’s insurance policy?
08:27 How do I learn more or if I have questions about my own upcoming fiduciary liability, D&O, or management liability policies?
Please note that the information contained in this posting is designed to provide general awareness in regard to the subject matter covered. It is not provided as legal, medical, or tax advice, nor is it intended to address all concerns in your workplace or for public health. No representation is made as to the sufficiency for your specific company’s needs. This post should be reviewed by your legal counsel or tax consultant before use.