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Settling a 401(k) Fee Lawsuit Means Much More Than Writing a Big Check
ERISA Fiduciary Administrators LLCLink to more items from this source
Apr. 1, 2015
"Protracted Iitigation in excessive fee cases ... puts the employer in an extended adversarial relationship with the bulk of its active workforce. The reputational damage that results from the public disclosure that it has fought hammer and tongs, expending many millions in defense costs, to unsuccessfully avoid restoring fiduciary losses to the company's 401(k) plan, will only frustrate its strategy to attract greater participation rates and is clearly inconsistent with the incentive and retention purposes of the plan. For all these reasons, we may be witnessing a waning of the customary urge to fight giving way to a deeper appreciation that an aggressive posture does not normally serve the company's long-term financial interests."

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