ERISA Imprudence Claim Dismissed With Leave To Amend As Lacking Fee Benchmarks

Mealey's (December 5, 2022, 11:19 AM EST) -- PHILADELPHIA — Retirement plan participants who cited allegedly excessive record-keeping fees in arguing breach of the fiduciary duty of prudence under the Employee Retirement Income Security Act failed to state a claim because they didn’t provide “apples to apples” information, a Pennsylvania federal judge ruled....