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MassMutual Settles 401(k) Fee Lawsuit for $31M
Bloomberg BNA 
June 17, 2016
"The lawsuit ... alleged that MassMutual and its top executives 'larded' the company's retirement plan with 'excessive fees' and 'unreasonably priced, proprietary investment options' in violation of their fiduciary duties under [ERISA].... In addition to a $30.9 million settlement payment, MassMutual also agreed to keep the plan's annual record-keeping fees no higher than $35 per participant for the next four years. The agreement includes a four-year ban on calculating record-keeping fees as a percentage of plan assets."
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