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Plaintiffs Allege That $31 Recordkeeper Fee Constitutes Fiduciary Imprudence Based on Contrived $14 Benchmarks
Encore Fiduciary 
[Opinion] Nov. 21, 2023 "A $31 recordkeeping per-participant fee is well below the average and median for $1B+ asset plans. But plaintiff law firms continue to file fiduciary malpractice claims with intentionally false comparators ... The plan sponsor community must fight back against frivolous excess fee lawsuits by publishing studies of what large plans actually pay for recordkeeping services and explaining how these services are differentiated by quality and scope." [Winkelman v. Whole Foods Market, Inc., No. 23-1352 (W.D. Tex. complaint filed Nov. 6, 2023)] MORE >> |
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