On September 6th, the Seventh Circuit affirmed the dismissal of a lawsuit filed by participants in Exelon Corporation's 401(k) plan. The plaintiffs alleged that the plan administrators violated their ERISA fiduciary duties by offering retail (instead of institutional) mutual funds, which provided participants the same terms but also the same expenses as those experienced by the general public, and by requiring participants to bear those fund fees. In an opinion clearly laying out the structure and expenses of the different types of mutual funds offered, the Court held that ERISA does not require fiduciaries to find and offer the cheapest possible funds and does not require employers to make pension plans more valuable to participants by paying fund fees. The Court further affirmed the award of costs to the defendants under Federal Rule of Civil Procedure 54(d)(1). Loomis v. Exelon Corp.