Great-West Lifetime Target Date Fund Lawsuit Investigation
Last Updated on June 26, 2017
Investigation Complete
Attorneys working with ClassAction.org have finished their investigation into this matter. Check back for any potential updates. You can also sign up for our free newsletter for the latest in class action news and settlements.
If you still have questions about your rights, contact an attorney in your area as there is a time limit for filing all lawsuits. The information on this page was posted when the investigation began and is now for reference only.
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At A Glance
- This Alert Affects
- Anyone who owns any of Great-West's "Lifetime" target date funds.
- What's a Target Date Fund?
- A target date fund is a type of investment plan designed to allow someone to retire by a certain "target date." For instance, someone who is younger may select a target date plan 2055, while someone closer to retirement age may pick a 2025 fund.
If you own a “Lifetime” target date fund through Great-West Funds, you may be able to help get a lawsuit started against the investment company. Attorneys working with ClassAction.org have reason to believe that Great-West is charging excessive fees in connection with its “Lifetime” funds, which are designed to help people retire by a certain target date. The attorneys are trying to determine whether a lawsuit could be filed against the company, but first need to speak with people who own one of Great-West’s “Lifetime” funds to learn more about what’s going on.
What’s a Target Date Fund?
A target date fund is often a mutual fund or collective trust fund that is designed to allow an individual to retire by a certain year or “target date.” For instance, someone who is younger may have a 2055 target date fund, while someone closer to retirement age may choose a 2025 target date fund. People with Great-West’s “Lifetime” target date funds may own the funds through their 401(k) plans or through some other means, like a retail brokerage account. The Great-West “Lifetime” funds include five specific target dates:
- 2015
- 2025
- 2035
- 2045
- 2055
Each of these funds is offered with three different glide paths options: aggressive, moderate or conservative.
Attorneys have reason to believe, however, that Great-West is charging fees that are excessive and disproportionate to the services they provide to owners of these funds.
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