Ben Grosz Speaks to Benefits Pro About 401(k) Lawsuits

IPB partner Ben Grosz spoke with Benefits Pro for its January 21 article, 401(k) Lawsuits on the Rise as Participants Target Fees, Conflicts of Interest and Data Privacy. The number of ERISA suits reached an all time high in 2020, and covered a range of issues, but a large percentage were centered on allegations of excessive fees. The outlook for 2021 indicates that the volume of litigation is likely to remain high. “There have been a lot of successful settlements and judgements,” says Ben Grosz, partner with Washington, D.C.-based law firm Ivins, Phillips and Barker. “That inspires firms to invest in more cases and inspires other firms to get into this area, so I would expect this trend to continue.”