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Latest Victim of 'Excessive' Investment Fee Case Has Low-Cost Vanguard Target Date Funds
Encore Fiduciary [Opinion] Apr. 14, 2022 "[T]he complaint fails to inform the court that the plan is filled with low-cost index funds in which the majority of the plan is invested ... Perspective has been lost in these cases as to whether a plan has low-fee investments versus a plan that offers high-fee investments, and what could be a plausible excessive fee claim.... [W]ith perspective and a detailed analysis of actual plan fees, it is easier to judge prudence.... This is not taking place in most excessive fee cases, and it is leading to inconsistent decisions that make little sense in the broader scheme." [Kruzell v. Clean Harbors Environmental Serv., Inc., No. 22-10524 (D. Mass. complaint filed Apr. 10, 2022)] |
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