Principal sued for stacking its TDFs with proprietary funds
The firm allegedly used high-cost, underperforming index funds in its hybrid target-date funds.
Principal Financial Group has been sued for allegedly loading its target-date funds with costly and underperforming in-house investments, in the latest example of 401(k) participants targeting financial firms for purportedly enriching themselves at investors' expense.
A trio of retirement-plan part
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