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Lawsuit Alleges Excessive Fees in Multiple Employer Plan
PLANSPONSOR; registration may be required 
May 7, 2020 "McCaffree Financial Corp., a participating employer in the ADP TotalSource Retirement Savings Plan, has filed an excessive fee lawsuit on behalf of the plan and a class of similarly situated participating employers against ADP, ADP TotalSource Group, the plan's administrative committee and its members, and NFP Retirement, the plan's investment adviser....As of December 31, 2018, the plan had 114,254 participants with account balances and assets totaling more than $4.44 billion, placing it in the top 0.1% of all 401(k) plans by plan size." [McCaffree Financial Corp. v. ADP, No. 20-5492 (D.N.J. complaint filed May 4, 2020)] MORE >> |
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