In the Margins

NY Life sued for excessive 401(k) fees

July 22, 2016

By InvestmentNews

New York Life Insurance Co. is the latest to be sued by employees for fiduciary breach in the company 401(k) plan. Current participants in two New York Life 401(k) plans filed a class-action lawsuit—Andrus et al v. New York Life Insurance Company et al—alleging self-dealing by the firm and other affiliated fiduciaries for retention of a MainStay-branded S&P 500 index mutual fund in two company retirement plans. Read the original story from InvestmentNews.

 

 

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