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401(k) Fees for Mutual Funds at 15 Year Low

According to the Investment Company Institute (“ICI”), a mutual fund industry group, the average expense ratios for equity, bond, and hybrid mutual funds fell to their respective lowest levels in 2012. The ICI arrived at this conclusion by comparing the average expense ratio of each mutual fund category to data it had compiled over the […]

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Mark G. Boyko of Schlichter, Bogard & Denton, LLP, Recognized as a 2013 Missouri & Kansas Super Lawyer Rising Star

Schlichter, Bogard & Denton, LLP is proud to announce that Mark G. Boyko has been recognized as a 2013 Missouri and Kansas Super Lawyer® Rising Star. Super Lawyers® recognizes attorneys who have attained a high-degree of peer recognition and professional achievement. This is the second year in a row Mark Boyko has received this award. […]

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Seventh Circuit Favors 401(k) Plan Investors in Dispute Against Lockheed Martin

  On August 7, 2013, the Seventh Circuit Court of Appeals handed down its decision in Abbott v. Lockheed Martin, unanimously overturning an earlier denial of class certification in a case concerning one of the country’s largest 401(k) plans. Judge Diane Wood, writing for a panel of Judges, ruled that a class could be certified […]

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Employee Protections Regarding Socially Responsible Retirement Plans

Increasingly, 401(k) and 403(b) plans have added socially responsible or environmentally green funds to lineups, as these funds have been increasingly willing to pay kickbacks — called revenue sharing — to plan recordkeepers. To the Department of Labor, these funds are part of a broad category of investments called “economically targeted investments”, which the DOL […]

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Another influential party to back employees in ABB 401(k) appeal

Recently, AARP joined the ranks of outside parties, including the U.S. Department of Labor, filing briefs on behalf of ABB employees and retirees, represented by Schlichter, Bogard & Denton of St. Louis, who are currently embroiled in a fight to preserve a $37 million judgment against ABB and Fidelity. The brief comes to the Eighth […]

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DOL Sides With Employees Who Successfully Fought 401(k) Plan Fees

Fidelity and ABB’s appeal of a $37 million judgment — plus attorneys’ fees —  against them was dealt another blow when the Department of Labor (“DOL”) registered its view with the Court of Appeals, siding with the employees and retirees of ABB. The Judgment came after a four-week trial in which the ABB employees, represented […]

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Schlichter Bogard & Denton Launches new Financial Information Website

Schlichter, Bogard & Denton, LLP is pleased to announce the launch of a new website for their Financial Litigation Group, accessible at http://www.stopfinancialabuse.com. Schlichter, Bogard & Denton is committed to protecting the retirement andinvestment savings of the American worker. Since 2005, the Financial Litigation Group has been hard at work litigating cutting edge cases regarding improper […]

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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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