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AonHewitt Case

AonHewitt Investment Consulting has been named as a defendant in a lawsuit involving employees of a client, Astellas U.S. Asetllas U.S. has also been named as a defendant in this case. Both are accused of fiduciary breaches with regard to the Astellas qualified retirement plans. More specifically, the case alleges that Aon placed five unreasonably expensive and poor performing proprietary collective investment trusts in the menu for participant selection, thereby benefitting at the participants’ expense, and representing a prohibited transaction.

modules.financialadvisoriq.com; July 7, 2020.