Pension and Investments – More 401(k) fee lawsuits expected, by Jenna Gottlieb

Fourteen months after the first round of 401(k) fee lawsuits was filed, five cases are awaiting trial and lawyers are laying groundwork for more suits alleging ERISA violations involving defined contribution plans.The lawsuits put an intense spotlight on revenue-sharing practices of providers that receive money from investment managers. In the long run, they could place pressure on fees paid to managers and record keepers of 401(k) plans. The litigation has a huge potential effect on 401(k) plan executives: lawyers say plan sponsors are vulnerable to litigation if they haven’t exercised adequate oversight of plan fees…

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