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401(k) fee suit yields big judgment against plan sponsor and others
  • McGuireWoods LLP
  • USA
  • May 18 2012

A federal district court has found the plan sponsor, employee fiduciaries and a recordkeeper of 401(k) plans liable for more than $35 million in damages under ERISA for failing to control costs, permitting the plans to pay excessive revenue-sharing compensation to service providers and imprudently selecting investment options.