Federated Hermes 401k Lawsuit | Retirement funds & employee benefits
Peiffer Wolf Carr Kane & Conway is investigating Federated Hermes’s employee 401k accounts. Our initial investigation has uncovered that Federated Hermes may have made overly risky investment choices and failed to regularly monitor its employee’s 401k plan, causing employees to lose money in their retirement funds and suffer decreased employee benefits. Employees who invested in proprietary Federated funds are of particular interest.
Current or Former Federated Hermes employee with a 401k?
If you are currently enrolled in Federated Hermes’s 401k plan or have been enrolled in the employee 401k plan since 2015, please contact the ERISA Attorneys at Peiffer Wolf Carr Kane & Conway for a FREE consultation by filling out a Contact Form or by calling 504-523-2434.
Federated Hermes 401k Lawsuit | Employment Retirement Income Security Act of 1974 (ERISA)
ERISA governs various types of retirement plans including 401k plans. Under ERISA, plan participants and beneficiaries may seek redress for breaches of fiduciary responsibility, denial of benefits, or failure to provide adequate disclosures of plan terms or benefit changes.
ERISA requires employers who sponsor retirement plans to act prudently, loyally, and with the highest regard for the interests of the employees who participate in the plans when it comes to selecting investment options and investing plan assets. When employers breach their duties by investing plan assets imprudently, plan participants can seek to hold them accountable for losses the plan suffers as a result.
Federated Hermes may have breached its fiduciary duties by making unsuitable investments with employees’ 401k portfolios, potentially costing participants in its 401k plan thousands of dollars in lost retirement savings. Peiffer Wolf Carr Kane & Conway has extensive experience representing plan participants and beneficiaries in claims where ERISA fiduciaries imprudently invested plan assets causing losses to the plan participants.
Peiffer Wolf is particularly interested in speaking with anyone who invested in the following Federated Hermes’s proprietary funds:
- Federated Capital Preservation Fund
- Federated Absolute Return Fund
- Federated Capital Income Fund
- Federated Clover Small Value Fund
- Federated Clover Value Fund
- Federated Emerging Market Debt Fund
- Federated Equity Income Fund
- Federated Global Allocation Fund
- Federated Global Total Return Bond Fund
- Federated Institutional High Yield Bond Fund
- Federated InterContinental Fund
- Federated International Bond Fund
- Federated International Leaders Fund
- Federated International Small-Mid Company Fund
- Federated International Strategic Value Dividend Fund
- Federated Kaufmann Fund
- Federated Kaufmann Large Cap Fund
- Federated Kaufmann Small Cap Fund
- Federated MDT All Cap Core Fund
- Federated MDT Balanced Fund
- Federated MDT Large Cap Value Fund
- Federated MDT Mid Cap Growth Strategies Fund
- Federated MDT Stock Trust
- Federated Max-Cap Index Fund
- Federated Mid-Cap Index Fund
- Federated Prudent Bear Fund
- Federated Prudent Dollar Bear Fund
- Federated Strategic Income Fund
- Federated Strategic Value Dividend Fund
- Federated Total Return Bond Fund
- Federated Total Return Government Bond Fund
- Federated U.S. Government Securities Fund
FREE CONSULTATION | Federated Hermes 401k Lawsuit
If you are currently enrolled in Federated Hermes’s 401k plan or have been enrolled in the employee 401k plan since 2015, Contact Us Today. Peiffer Wolf Carr Kane & Conway has represented thousands of clients, and we remain committed to fighting on behalf of Federated Hermes’s 401k plan participants.
Contact Us by calling 504-523-2434 or by filling out an online Contact Form for a FREE Consultation. Concerns about possible misconduct and mismanagement are serious, and we are committed to fighting on your behalf.
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