By Steve Ditto
Healthcare just crossed into its 401(k) moment. The law firm that forced fiduciary accountability into retirement plans has now filed healthcare ERISA class actions.
Schlichter Bogard LLC, the law firm aka “The 401(k) Tort Terror” with three unanimous U.S. Supreme Court victories and more than $750 million in ERISA-related settlements, is no stranger to industry-wide change.
This time, the lawsuits don’t stop with employers.
They name the benefit consulting firms themselves.
Gallagher. Mercer. Lockton. Willis Towers Watson.
Named defendants.
Alleged fiduciary breaches.
Alleged prohibited transactions.
This is not incremental.
This is structural.
If you recognize the 401(k) playbook, you know what comes next.
If you don’t, it’s worth understanding now rather than later.
