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Pioneer Natural Resources Participant Suit Alleges Unreasonably Expensive Investment Options in 401(k) Plan
Pensions & Investments Link to more items from this source
July 6, 2017
" 'Instead of leveraging the plan's bargaining power to benefit participants and beneficiaries, the Pioneer defendants chose inappropriate, higher-cost mutual fund shares classes,' said the June 28 complaint filed in U.S. District Court in Denver ... These actions 'caused the plan to pay unreasonable and excessive fees for record keeping and other administrative services.' The complaint said the Pioneer Natural Resources USA Inc. 401(k) and Matching Plan had $500.2 million in assets as of Dec. 31, 2015."

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