08.07.19

401(k) Lawsuits Creeping Down to Smaller Plans

by: Greg Iacurci

Lawsuits filed against employers for allowing excessive fees to be charged in their 401(k) plans have, until fairly recently, targeted entities with more than $1 billion in their retirement plans. However, lawsuits filed in recent weeks have moved down market to smaller plans that 401(k) advisors are much more likely to count among their client base. Employers TriHealth and Adidas America, which respectively sponsor a $462 million and $630 million 401(k) plan, were sued last month. Greystar Management Services, which has a $188 million retirement plan, and West Corp., which has a $361 million plan, were sued in May.

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