Making lemonade of legal lemons, new wave of ERISA class actions accuse fiduciaries of 'imprudently' using low-fee, high-rated funds, like BlackRock TDFs

IMO- the real risk for 'fiduciaries' is not being able to follow/document and defend the decision making process. There is zero evidence to suggest anyone can consistently select out performing investment strategies prospectively...the Alpha Fairy comes and goes, if it exists at all. The other point, as related to TDF's misses the mark- the majority of returns (look at any academic research) comes from asset allocation and not from underlying investment choices. There's plenty of room to take action against the sponsor/advisor but what they have laid out doesn't make a lot of sense.

Laughable, if it wasn't so sad. DOL needs to do a better job of defining "prudent investing" for the benefit of all sponsors, but again they write regulations/guidance of their own that leave far too much room for interpretation. We're on a slippery slope that leads to nowhere. I would also say that there should be some penalty for "class action" lawsuits brought that don't have merit in the judges eyes.