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Lawsuit alleges four fiduciary breaches by MassMutual in 401(k) plan

Posted On: Nov. 17, 2022 9:47 AM CST

A retirement plan participant has brought a lawsuit seeking class certification against Massachusetts Mutual Life Insurance Co. for alleged breach of fiduciary duty to participants in the company’s 401(k) plan, reports Plansponsor. The suit, which also names CEO Roger Crandall, the company’s investment fiduciary committee and its plan administrative committee, accuses MassMutual retirement plan fiduciaries of mismanaging the plan and violating their fiduciary duties to participants.