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Circuit Courts of Appeal Uphold Dismissal of 401(k) Fee Challenges Post-Hughes
Holland & Knight 
Sept. 22, 2022 "Following the U.S. Supreme Court's decision in Hughes v. Northwestern University, the U.S. Court of Appeals for the Seventh Circuit recently upheld the dismissal of a complaint challenging a 401(k) plan's purportedly excessive recordkeeping, investment management and investment advisor fees under [ERISA]. The U.S. Court of Appeals for the Sixth Circuit has also upheld the dismissal of complaints challenging 401(k) fees post-Hughes. These decisions have highlighted that plaintiffs challenging recordkeeping fees must allege how such fees were excessive in comparison to the services rendered." |
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