"Echoing the language found in many 401(k) excessive fee suits, this one argues that the plan fiduciaries failed to use their bargaining power to obtain better rates.... The suit would appear to have its basis in the ... Consolidated Appropriations Act of 2021 (CAA) ... In essence, ERISA Section 408(b)(2) -- which greatly expanded fee disclosure responsibilities for retirement plan providers -- now applies to health care providers as well. And plan sponsor fiduciaries are on the hook to ensure that those fees/services rendered are reasonable, as they have been required to do for retirement plans." [Lewandowski v. Johnson & Johnson, No. 24-0671 (D.N.J. complaint filed Feb. 5, 2024)]   MORE >>