July 26, 2019
Accused of packing a 401(k) plan with company-affiliated funds that performed poorly for investors, financial services company SEI Investments agreed Friday to settle a proposed Employee Retirement Income Security Act class action for $6.8 million and will require the plan's investment committee to undergo training on ERISA's fiduciary duties.
May 16, 2019
SEI told a Pennsylvania federal court that it has agreed to a settle a proposed Employee Retirement Income Security Act class action accusing the financial services company of packing its 401(k) plan with company-affiliated funds that performed poorly for investors but generated a landslide of fees.