Benjamin L. Grosz Interviewed on 401(k) Fee Litigation and Plan Sponsor ReactionPDF
Recent 401(k) fee litigation and plan sponsor settlements were discussed by Ben Grosz, who was quoted in a Fiduciary News article entitled “Will Increased 401K Scrutiny Trump DOL's New Fiduciary Rule?” by Christopher Carosa.
The press may have given greater attention to the liability exposure produced by conflict-of-interest fees. This likely gave those plan sponsors not already attuned to these risks an impetus to start paying attention. “Many of our client plan sponsors have been scrutinizing (and negotiating) fees for a long time as they have been aware of their fiduciary duties and responsibilities,” says Benjamin L. Grosz, a benefits and tax attorney at Ivins, Phillips & Barker in Washington, DC. “The wave of recent litigation, settlements, and headlines have certainly enhanced plan sponsor awareness of potential legal liability and risk.”