ERISA fines for Excessive Fees
- Boeing $57 million
- Lockheed Martin $62 million
- Braden (Walmart) $13.5 million
- Caterpillar $16.5 million
- Bechtel $18.5 million
- General Dynamics $15.15 million
- Fidelity $12 million
- Ameriprise $27.5 million
- International Paper $30 million
Pending 401(k) Lawsuits filed in 2016 (in Billions)
Click on Name to view official Court Lawsuit Document
From Bloomberg law – official legal docket
Time Magazine Managing Editor Mr Stingel on MSNBC’s TV show Morning Joe.
16 seconds: “The 401k needs to be retired. It is not working for millions of Americans.”
47 seconds: “The 401k was never meant to be the primary retirement vehicle for Americans. It was set up in the 1970s as a tax dodge for executives.”
2 minutes: “The disaster is that as you get older your options are reduced and there is a quirk where the market goes down you have a higher chance of losing money. “
Stingel recommends an “Insurance Pension Plan and contributing 6% of your salary every pay cycle.”
The Willis Report
Who: Tom Gonnella, Senior VP of Corporate Development, Lincoln Trust. Denver based Lincoln Trust has over 2,000 qualified plan clients and $7.6 billion in retirement assets.
209-814-6865 | JLM@BankingLikeTheRich.com
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