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.