Excessive Fee Lawsuit To Affect Retirement Plans
The ongoing litigation in Tibble vs. Edison reached the Supreme Court recently in a dispute over the high cost of retail mutual fund share classes in 401(k) plan when lower cost institutional share classes were available. The defendants argue that the statute of limitations alleging the fiduciary breach had expired.
The case serves as a reminder that Plan fiduciaries should review plan investments each year to see if there are changes and if they are appropriate for the plan.
