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3 Retirement “Train Wrecks” Facing U.S.

This month at the 25th annual Morningstar Investor Conference in Chicago, Vanguard Group founder Jack Bogle said that the U.S. is facing three retirement “train wrecks”: the growth of social security entitlements, “grotesquely underfunded” pension funds, and the structure and fees of defined contribution plans, such as 401(k) plans. The Pensions & Investments article reporting on Bogle’s […]

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New York Dept. of Financial Services raises concerns over “shadow insurance”

Earlier this month, Benjamin Lawsky of the New York State Department of Financial Services released a report detailing a practice in the insurance industry popularly referred to as “shadow insurance.” The practice involves the parent company diverting insurance policy claims to its “captive” insurance subsidiaries, often located in another state or country, in order to take […]

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Schlichter Bogard & Denton Reaches Tentative Settlement with Cigna Corporation et al.

Schlichter, Bogard & Denton, a St. Louis law firm, today announced it has reached a tentative settlement with Cigna Corporation and Prudential Retirement Insurance and Annuity Company (PRIAC) of Nolte, et al, v. Cigna Corp., et al. Case No. 07-02046 in the U.S. Federal Court for the Central District of Illinois. The case involves disputes […]

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Your Boss may be Financing His Retirement Account With Your 401(k) Savings

Modern corporations offer a variety of benefit plans, including one or more 401(k) plans, legacy pension plans, small plans from previously acquired companies, health and welfare plans, and special retirement plans for a small group of highly compensated executives. Each of these plans requires a recordkeeper and trustee to manage the accounts. Several — and […]

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Schlichter, Bogard & Denton at the Leading Edge of Target Date Fund Litigation

In his May 8 posting, ERISA expert Thomas Clark noted ongoing cases brought by current and former employees of ABB, Inc. and Ameriprise Financial may uncover widespread misuse of target date funds in retirement plans. In both cases, the employees selected Schlichter, Bogard & Denton to represent them. In those plans, the target date fund […]

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Schlichter, Bogard & Denton Investigates AXA, BB&T and MassMutual

Schlichter, Bogard & Denton, a law firm with a proven track record of representing employees and retirees, is investigating the fees and expenses charged to the 401(k) Plans listed below and other self-dealing and prohibited conduct concerning the administration and management of these Plans. If you are or were an employee of AXA Equitable, BB&T […]

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