401(k) Plan, Administrators Seek Summary Judgment In Valuation Lawsuit

Mealey's (January 29, 2021, 11:43 AM EST) -- PROVIDENCE, R.I. — A 401(k) plan, the plan administrator and plan trustees accused of unreasonably delaying requested market valuations until after the novel coronavirus pandemic hit and negatively affected the stock market filed a motion for summary judgment on Jan. 25 in a federal court in Rhode Island, arguing that the plaintiffs, plan participants, were paid their balances in full and the breach of fiduciary duty claim is the inappropriate one to bring....