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Class Action Certification and 401(k) Fees
Pension Risk Matters 
[Opinion] July 27, 2008
Excerpt: According to Class Action Litigation Report ('Court Certifies Class Action Alleging Fiduciary Breach in Charging Excessive Fees, July 25, 2008), a U.S. federal court has granted class action status to a claim by 401(k) plan participants that they were forced to pay 'unreasonable' fees to service providers. Alleging that Kraft Foods Global Inc. plan fiduciaries failed to keep a lid on costs related to recordkeeping and asset management, this case may raise the stakes for Corporate America, with at least a dozen other 'excess fee' cases awaiting adjudication.
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