Page 38 - DCAC December 2024 Files
P. 38
Understanding Fiduciary Responsibilities
Nearly 500 DC Plan Lawsuits Since 2015
• Large plan sponsor fiduciaries
• Plan service providers
• Financial institution plan sponsors
• Large universities with 403(b) plans
• More lawsuits likely
– More plaintiff law firms are entering
the business Defendants have paid over
$1 billion to settle.
– Smaller plans are being targeted
Nearly 300 filings since 2020.
– Law firms are finding new categories of
defendants to sue and raising creative new claims
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