Northern Trust $6.9 Million Target Date Fund Settlement Gets Nod

Jan 29, 2025 · Northern Trust Co.'s $6.9 million class settlement over the in-house target date funds in its employees’ 401(k) plan received initial approval from a Chicago federal judge. The deal is slated to benefit about 14,000 people covered by the Northern Trust retirement plan …

CouponFollow Extension

$6
OFF

Northern Trust $6.9 Million Target Date Fund Settlement Gets Nod

2 weeks from now

bloomberglaw.com

$6
OFF

Northern Trust Agrees To Pay $6.9M Over ‘underperforming’ Target …

2 weeks from now

Jan 9, 2025 · About 14,000 people covered by $2.9 billion Northern Trust’s retirement plan who have invested in the company’s target date funds since June 2015 are expected to benefit …

benefitspro.com

$6
OFF

Northern Trust Reaches $6.9M Settlement Over In-House TDFs

2 weeks from now

Jan 8, 2025 · Northern Trust Co. has agreed to pay $6.9 million to settle a class action lawsuit challenging the use of the firm’s in-house target-date funds for its 401(k) plan. ... Both parties …

plansponsor.com

$6
OFF

Northern Trust To Pay $6.9 Million To Settle 401(k) Lawsuit

2 weeks from now

Jan 7, 2025 · 401(k) plans souring on Northern Trust target-date funds — including its own Northern Trust settles AutoZone 401(k) ERISA suit for $2.5 million ERISA case against …

pionline.com

$6
OFF

$6.9M Northern Trust ERISA Settlement Seeks ... - ClassAction.org

2 weeks from now

Jan 15, 2025 · The proposed class action settlement aims to cover a class of roughly 14,000 participants and beneficiaries of the Northern Trust Thrift-Incentive Plan who were invested in …

classaction.org

$6
OFF

$6.9 Million Settlement Struck In Northern Trust Excessive Fee Suit

2 weeks from now

Jan 9, 2025 · As for those amounts, the settlement (Conlon et al. v. The Northern Trust Co. et al., case number 1:21-cv-02940, in the U.S. District Court for the Northern District of Illinois) calls …

napa-net.org

$6
OFF

Northern Trust To Pay $6.9 Million Over In-House 401(k) Funds

2 weeks from now

Jan 6, 2025 · Northern Trust Co. will pay $6.9 million to settle a lawsuit by employees challenging the in-house target date funds in the financial services company’s $2.7 billion 401(k) plan. …

bloomberglaw.com

$6
OFF

Northern Trust Settles Retirement Class Action For $6.9 Million

2 weeks from now

Jan 8, 2025 · Northern Trust has agreed to settle a 2021 class action lawsuit alleging the bank failed to properly monitor investments in the company’s retirement plan. The settlement of $6.9 …

chicagobusiness.com

$6
OFF

Northern Trust Settles 401(k) Lawsuit For $6.9 Million

2 weeks from now

Jan 9, 2025 · Northern Trust Co. has agreed to a $6.9 million settlement in a class action lawsuit over its 401(k) plan’s use of in-house target-date funds, pending court approval, Plansponsor …

businessinsurance.com

$6
OFF

Northern Trust Inks $6.9M Deal To Shutter 401(k) Suit - Law360

2 weeks from now

Law360 (January 6, 2025, 6:09 PM EST) -- Northern Trust Co. has agreed to pay $6.9 million to end a proposed class action claiming it tapped underperforming proprietary investment funds …

law360.com

$6
OFF

Northern Trust Reaches $6.9M Settlement Over In-House TDFs

2 weeks from now

Northern Trust Co. has agreed to pay $6.9 million to settle a class action lawsuit challenging the use of the firm’s in-house target-date funds for its 401 Northern Trust Reaches $6.9M …

newsbreak.com

$40
OFF

Northern Trust Sued Over 'Poorly Performing' Target Date Funds

2 weeks from now

Jun 2, 2021 · Northern Trust loaded its ... Target Date Funds ... Charges Over Misleading Statements Vanguard to Pay $40M in Target-Date Sell-Off Case Vanguard Reaches Proposed …

thinkadvisor.com

70%
OFF

Northern Trust Target Dates Called Out In Two 401(k) Lawsuits

2 weeks from now

Nov 3, 2020 · “For nearly a decade, the Northern Trust Focus Funds have performed worse than 70% to 90% of peer funds.” The cases were brought in U.S. District Court in the Northern …

investmentnews.com

$2
OFF

Northern Trust, Workers Negotiate Class Deal In 401(k) Fund Suit

2 weeks from now

Oct 11, 2024 · Northern Trust Co. reached a tentative class settlement with employees challenging the in-house target date funds in the financial services company’s $2.7 billion …

bloomberglaw.com

FAQs about Northern Trust $6.9 Million Target Date Fund Settlement Gets Nod Coupon?

What happened to Northern Trust focus target retirement trusts?

Instead, in disregard of their fiduciary duties, defendants loaded the plan with poorly performing proprietary funds called the Northern Trust Focus Target Retirement Trusts … and then kept these Funds on the Plan’s investment menu throughout the Class Period despite their continued underperformance.” ...

Did the Northern Trust focus plan lose a lot of money?

The suit states that based on an analysis of data compiled by Morningstar Inc., the “plaintiffs project the plan lost tens of millions of dollars in retirement savings since 2015 because of defendants’ decision to retain the Northern Trust Focus Funds in the Plan instead of removing them.” ...

What are Northern Trust focus funds?

The Northern Trust Focus Funds are the plan’s default investment options. Northern Trust was hit with an ERISA class-action suit Tuesday for loading its retirement plan with “poorly performing” proprietary target date funds that underperformed similar offerings. ...

Did Northern Trust fail to monitor investments?

Northern Trust, the suit states, “failed to regularly monitor plan investments and remove or replace ones that become imprudent. ...

Why did Northern Trust file an ERISA class-action suit?

Northern Trust was hit with an ERISA class-action suit Tuesday for loading its retirement plan with “poorly performing” proprietary target date funds that underperformed similar offerings. The suit, filed in the U.S. District Court for the Northern District of Illinois, was brought by current and former Northern Trust employees. ...

Did Northern Trust breach its fiduciary duties?

Northern Trust breached its fiduciary duties to prudently select and monitor the plan’s investment options, suit says. For nearly a decade, Northern Trust Focus Funds have performed worse than 70% to 90% of peer funds, suit says. The Northern Trust Focus Funds are the plan’s default investment options. ...