Retirement & Benefits

The firm mismanaged its $3.4 billion 401(k) plan by overpaying for administrative services and misusing money forfeited by former employees, the class-action lawsuit alleges.

BofA employees filed a lawsuit last week alleging that the company mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit.

About 300,000 employees sued FBG for mismanaging their benefit plans by collecting "ill-gotten profits" from their retirement, health, and fringe-benefits plans.

Economic uncertainty has changed retirement expectations, according to a new survey.

While inflation for other goods and services has subsided, healthcare costs continue to grow, drawing even more attention from finance.

A former employee alleges that the bank used assets forfeited by former workers for its own financial benefit instead of for plan participants.

The construction firm is being sued over the fees retirement plan participants paid after being defaulted into managed accounts.

BlackRock's LifePath Paycheck offering gives participants in defined-contribution plans access to guaranteed income through a target-date fund.