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Construction firm sues retirement plan administrator over losses

Posted On: Feb. 23, 2023 10:00 AM CST

A construction management company has filed a lawsuit against providers to the company defined benefit and 401(k) profit sharing plans for actions that allegedly caused high costs and investment losses, reports Plansponsor. Martone Construction Management Inc. sued administrator National Employers Retirement Trust and the other providers for harm to participant’s retirement assets and for having caused the retirement plans to incur market loses, the complaint argued..