Columbus Regional Excessive Fee Class Action
Class action attorneys are investigating whether Columbus Regional Healthcare System, Inc. has mismanaged the assets of the Piedmont Columbus Regional Retirement Savings Plan (the “Plan”). Potential class members consist of current and former employees of Columbus Regional Healthcare System, Inc. who have or had 403(b) account investments in the Plan for the period beginning June 30, 2014 to the present. Potential class members are eligible to participate in the investigation and may be entitled to future compensation in this potential Columbus Regional class action. Please note that there is no charge to receive additional information or to participate in the Columbus Regional 403(b) Class Action investigation.
Join the Columbus Regional 403(b) Class Action Investigation
401(k) and (for nonprofits) 403(b) accounts have become the primary means by which most employees in the United States save for retirement. Under the Employee Retirement Income and Security Act of 1974 (“ERISA”), an employer is required to operate ERISA plans solely in the best interests of its participating employees. A plan may select only prudent investment and charge only reasonable fees. As the United States Supreme Court held in its Tibble v. Edison decision, it is a breach of fiduciary duty for a plan sponsor to waste employee assets by paying unnecessary fees. The United States Department of Labor has consistently expressed concerns about the detrimental impact of fees on the growth of employees’ retirement savings. The U.S. Department of Labor estimates that over 35 years a 1% difference in fees and expenses can reduce a participant’s account balance at retirement by as much as 28%. U.S. Dep’t of Labor, A Look at 401(k) Plan Fees, 1-2 (Aug. 2013). If this sounds familiar to you, please don’t hesitate to contact us today!Contact Us
The potential losses and excessive fees in the Columbus Regional plan relate to:
These mutual funds are suspected of consistently under-performing their benchmarks and charging excessive fees. There also is an investigation of the administrative expenses paid by the Plan to parties-in-interest.Join Now
If you believe you may be eligible to participate, contact us today! We will help you learn more about the issues and assist you in participating in the investigation of the potential consumer class action.
Requesting additional information or participating in the investigation does not create an attorney-client relationship. Any attorney-client relationship you enter into will be documented in a written engagement agreement with an attorney. Consider The Consumer is not a law firm and does not give legal advice.
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