loader
Page is loading...
generic_insight_detail

Union Retirement Plan Hit With Class Action Lawsuit Alleging Excessive Fees


On Nov. 30, a class action lawsuit was filed against the trustees of the Supplemental Income 401(k) Plan, a union retirement plan that covers more than 27,000 Teamsters as well as other union-represented employees. The lawsuit was filed in federal court in California – where the $921 million retirement fund is based. The 26-page complaint alleges that the retirement plan failed to offer “lower priced alternative classes of mutual funds” that were available on the market as compared to the funds provided for by the plan. The complaint further asserts that the union retirement plan paid excessive administrative fees to record keepers. This will be an interesting case to watch, as lawsuits against union retirement plans related to administrative fees are relatively rare. Stay tuned.


LEAVE YOUR COMMENT

RELATED ARTICLES

Happiest Union On Earth? Teamsters Violated Disney Parks Workers’ Labor Law Rights

June 25, 2018 | National Labor Relations Board, Labor Relations

UAW Sues Over UAW-Chrysler National Training Center Scandal

June 12, 2018 | Unions and Union Membership, Labor Relations

Kentucky’s Right-to-Work Law Upheld by Court

January 26, 2018 | State Labor Laws, Unions and Union Membership, Labor Relations

Follow the Money: Union Organizers Set Their Sights on Silicon Valley, Tech Companies

September 15, 2017 | Union Organizing, Unions and Union Membership, Labor Relations

Paying the Piper? More Than 30,000 Teamsters to Vote on Pension Cuts

August 9, 2017 | Unions and Union Membership, Labor Relations

Subscribe

Do you want to receive more valuable insights directly in your inbox? Visit our subscription center and let us know what you're interested in learning more about.

View Subscription Center
RELATED TOPICS
California
class action lawsuit
Teamsters
Union Retirement Plan
Trending Connect
We use cookies on this site to enhance your user experience. By clicking any link on this page you are giving your consent for us to use cookies.