Allianz Asset Management accused of self-dealing in 401(k) services

A pair of Allianz Asset Management of America 401(k) Savings and Retirement Plan participants have claimed in federal court that plan fiduciaries engaged in self-dealing, reports Plansponsor. The plaintiffs allege two counts of fiduciary breach against the company, the plan committees and numerous individuals, and – failure to monitor fiduciaries.