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Ninth Circuit Upholds Dismissal of 401(k) Fee Case
October Three Consulting Dec. 6, 2018
"The court sided with defendants on one of the critical issues in current 401(k) fee litigation: whether a plaintiff may state a claim for breach of the ERISA duty of prudence merely by alleging that there was a less expensive, 'identical' alternative to the service/fund provider selected by plan fiduciaries.... The Ninth Circuit's most recent decision, ... while brief, included a pointed discussion of the critical issue[.]" [White v. Chevron Corp., No. 17-16208 (9th Cir. Nov. 13, 2018; unpub.)]
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