401(k) Provider Is a Fiduciary When Setting Guaranteed Rate of Return.

Item request has been placed! ×
Item request cannot be made. ×
loading   Processing Request
Read Online Read More Add to Saved list
  • Source:
    Benefits Magazine. Jun2020, Vol. 57 Issue 6, p54-54. 1p.
  • Additional Information
    • Subject Terms:
      RATE of return; RATE setting; DISTRICT court decisions
    • Abstract:
      The article discusses the court case Rozo et al. v. Principal Life Insurance Co., examined by the U.S. Court of Appeals for the Eighth Circuit, which claims that the defendant not acting in a fiduciary capacity when setting the rate of return for a 401(k) plan. Topics include the plaintiff filed suit on behalf of himself and a class of similarly situated individuals; and defendant being a life insurance company that acts as a service provider to the plan and other similar 401(k) plans.