The Frankowski Firm Is Investigating Cases of Retirement Plan Mismanagement and Fraud
If your broker’s negligence led to losses in your 401(k), we want to help
Does your employer or former employer owe you money for improperly managing your 401(k) plan? The Frankowski Firm is actively investigating fees charged in 401(k) plans, especially:
- United Health Group 401(k) Savings Plan
- Nordstrom 401(k) Plan & Profit Sharing, Tyson Foods, Inc. Retirement Savings Plan
- Gapshare 401(k) Plan, Best Buy Retirement Savings Plan
- Whole Foods Market Growing Your Future 401(k) Plan
- Tyco Electronics Corporation Retirement Savings and Investment Plan
Excessive fees can end up costing you tens of thousands of dollars
Class actions challenging excessive fees in 401(k) plans have done well to date, including some large multi-million-dollar settlements against companies like Boeing. A plan sponsor owes fiduciary duties to the plan to manage and operate it in a prudent manner for the benefit of all participants. If your plan sponsor is not fulfilling these duties, it may end up costing you tens of thousands of dollars at retirement time in monies that you fail to have in your account.
A small amount in excess fees can end up making a large difference over the life of investing in a retirement plan. 401(k) fees are (i) plan administration fees, (ii) individual service fees, and (iii) investment fees. Investment fees may include:
- Management fees
- Investment advisory fees
- Account maintenance fees
- Administrative fees
- Sales charges and commissions
The fees should be properly disclosed in the documents provided through your plan. These documents include an annual report and summary plan description. If you have a good case and agree to serve as a class representative in a class action, you will also be eligible to apply for a class plaintiff incentive fee of $5,000 to $10,000. Awarding of such an incentive fee is solely in the discretion of the Court.
Protecting investors from stock broker fraud and negligence
In order to determine whether your plan is being managed appropriately, please call The Frankowski Firm at 888 741-7503, or fill out our contact form. There is no fee unless you recover money, and no charge for the consultation.