Record Keeping Expenses

Nemours Foundation Retirement Plan Breach of Duty of Prudence Class Action

The Nemours Foundation offers its employees a retirement plan, the Nemours Foundation Section 403(B) plan. The complaint for this class action alleges that Nemours has breached its fiduciary duty of prudence, by causing the plan to pay excessive administrative fees and by not choosing the investment share classes that have the lowest expenses. According to  Read more

Baystate Health Retirement Plan Recordkeeping Fees Class Action

Those responsible for retirement plans have a duty to exercise the “care, skill, prudence, and diligence” of a prudent person in their plan management. The complaint for this class action brings suit against Baystate Health, Inc. and the its Board of Directors, alleging they did not fulfill their fiduciary duty to the Baystate Health, Inc.  Read more

Koch Industries Retirement Plans Recordkeeping Expenses ERISA Settlement

Koch Industries, Inc., Koch Business Solutions, LP, and the Koch Benefits Administrative Committee are spending $4 million to settle a class action alleging that it did not properly monitor and control recordkeeping expenses for its retirement plans, including the Georgia-Pacific LLC Hourly 401(k) Plan, the Georgia-Pacific LLC 401(k) Retirement Savings Plan, and the Koch Industries  Read more