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Seventh Circuit Finds the Northwestern Excess Fee Case Plausible Based on an Obsolete Fact Pattern
Encore Fiduciary 
Mar. 28, 2023 "The Seventh Circuit held that the Northwestern excess recordkeeping and investment fee claims were plausible ... But the case involves an obsolete fee arrangement that even the Northwestern plan has replaced. Read correctly, the case only finds plausibility for fiduciary imprudence claims against plans with uncapped revenue sharing and retail share class investments without rebating the higher fees back to plan participants. Virtually no large plan today has this obsolete fee arrangement." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 23, 2023)] MORE >> |
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