An outside investment consultant for Banner Health’s 401(k) plan can’t escape claims that it allowed the plan to offer bad investments and charge excessive fees (Ramos v. Banner Health, 2017 BL 348859, D. Colo., No. 1:15-cv-02556-WJM-MWJ, order denying partial motion to dismiss 9/29/17).
Jeffrey Slocum & Associates Inc. is still facing a proposed class action alleging that the company breached its fiduciary duties to the Banner Health plan participants after a federal judge on Sept. 29 denied the company’s motion to dismiss. Both Slocum and Banner Health caused plan participants to pay excessive record-keeping fees to Fidelity and ...