401(k) Plan Mismanagement
Excessive fees and imprudent investments in 401(k) plans can significantly erode retirement savings over time, leaving individuals with far less money to support their needs in retirement. If you suspect your 401(k) plan may be burdened with excessive fees or imprudent investments, contact us. We can help you understand your plan and options.
Why might my 401(k) be vulnerable to abuse?
There may be conflicts of interests: One of the main problems contributing to excessive fees is the inherent conflict of interest within the industry. Service providers and plan administrators have a fiduciary duty to act in the best interests of plan participants. However, some providers may prioritize their own financial gain over the participants' well-being, leading to higher fees and lower returns.
401(k) fees are opaque and confusing: Many participants are simply not aware of the fees being charged within their plans, leaving individuals unable to make informed decisions about their investment choices to understand the impact of these fees on their retirement saving.
Why should I work with Engstrom Lee?
Engstrom Lee attorneys have been at the forefront of 401(k) plan litigation. Through class actions, our attorneys have recovered more than $300 million in retirement savings. Our attorneys have worked in the finance industry and can help you understand the complicated array of fees that may be charged to your 401(k) account and identify who might be benefiting at your expense.
Active Cases
We are representing participants in the following 401(k) plans, alleging fiduciaries imprudently and/or disloyally managed the plan, causing participants to lose millions of dollars.
Bed Bath & Beyond, Inc. 401(k)
Savings Plan
Republic Mortgage Insurance Company Profit Sharing Plan
IBC Profit Sharing Plan and Trust
Garnet Health Medical Center 403(b) Plan
How can I learn more?
If you believe your 401(k) plan is being mismanaged, contact us by filling out this form.
An attorney may reach out to you directly to learn more about your plan. It doesn’t cost anything to speak to one of our attorneys and you’re under no obligation to take legal action after talking to someone about your rights.