The Responsibility of Plan Fiduciaries

Protecting against the Self-Interest of Others for the Good of Participants

Fiduciaries of the JP Morgan Chase 401(k) Savings Plan have recently been sued by Plan participants. Listed allegations include:

  • failing to monitor and evaluate the cost of investment options
  • imprudently allowing the Plan’s assets to remain in various proprietary (JPMorgan) investment vehicles rather than lower fee, similar investment vehicles, and
  • failing to remove fiduciaries whose performance was sub-par.[1]

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