Verizon Communications Inc. is no stranger to litigation over how it manages its workers’ retirement plans, and the company now faces a new lawsuit challenging the complexity of the investments in its 401(k) plans (Jacobs v. Verizon Commcn’s, Inc., S.D.N.Y., 1:16-cv-01082, complaint filed 2/11/16).
The latest lawsuit, filed Feb. 11 in the U.S. District Court for the Southern District of New York as a proposed class action, presents some issues that are rather new to 401(k) fee litigation. The complaint provides detailed descriptions of the types of investments offered in Verizon’s four 401(k) plans and how the ...
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