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Lessons from Plan Litigation with American Century
May 3, 2023 @ 11:00 am - 12:00 pm
Join us to hear how American Century was able to win their case and how you can set your plan up for a successful defense if you are sued.
Although hundreds of class-action lawsuits have been filed against retirement plan fiduciaries over the years, only a few cases have gone to trial. In 2016, the American Century Retirement Plan Committee was faced with allegations of breaches of fiduciary duty. Pointing to its longstanding thoughtful oversight of the plan to help employees invest for the future, American Century successfully defended itself against the claims. Following a trial in September 2018, the court found in favor of the defense on all allegations in early 2019.