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Brief of Secretary of Labor, Hilda L. Solis, as Amicus Curiae in Support of Brian Loomis, et al., Plaintiffs-Appellants
U.S. Department of Labor [DOL] Link to more items from this source
Mar. 18, 2010
Excerpt: According to the amended complaint, a substantial majority of the investment options the fiduciaries included in the Plan paid retail-level investment fees, when the Plan, which at times exceeded $1 billion in assets, could have selected investment options designed for large institutional investors. Id.... The complaint alleges that the fiduciaries imprudently caused the Plan participants to pay excessive fees in relation to the services received, when compared to other plans or institutional investors of comparable size and bargaining power.

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