Harnessing his considerable knowledge in employee benefits law, Spencer Fane attorney Greg Ash lent his insights to the recent Ignites article, Wave of Lawsuits Targets 401(k)s Using American Century TDFs.
In the piece, Greg was one of several industry thought leaders speaking to the recent uptick in ERISA lawsuits centered on use of American Century target-date funds (TDFs). Greg opined on what the primary challenge is that the plaintiffs in these cases will have to face.
“Plaintiffs will have to show that those funds underperformed when compared to appropriate, meaningful benchmarks,” Greg noted. “Identifying appropriate benchmarks – and convincing a federal court that the benchmark and the challenged fund really are comparable – has proven to be a difficult task for plaintiffs.”
As the leader of the firm’s Employee Benefits Practice Group, Greg Ash helps his clients maximize the value and minimize the risks inherent in their benefit plans. With more than 30 years of experience, Greg translates complicated legal issues under ERISA and the Internal Revenue Code into meaningful decision points for employers. He forecasts risk and identifies opportunities to help his clients meet their business objectives.
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