In this episode, we dive deep into two groundbreaking class-action lawsuits that put corporate giants Amazon and Verizon under the spotlight for alleged breaches of fiduciary duty under ERISA. We unpack the details of Amazon's alleged mismanagement of $350 million in 401(k) funds and Verizon’s controversial $5.9 billion pension risk transfer. From accusations of self-dealing and prudence violations to questions about transparency and participant impact, we explore the high stakes, key players, and potential implications for the retirement planning industry. Don’t miss this critical discussion on fiduciary responsibility and what it means for millions of employees and retirees.
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