The Supreme Court to Examine “Excessive” ERISA Fees
The Supreme Court recently agreed to hear the class action ERISA case, Hughes v. Northwestern University, Docket No. 19-1401, to determine whether a retirement plan that pays or charges its participants fees that are significantly higher than those of other available investments is breaching its fiduciary duties under the Employee Retirement Income Security Act (ERISA). In short, the Supreme Court’s review could determine what qualifies as a plausible claim for relief in a “defined contribution” retirement plan.
In Hughes, five Plaintiffs filed the action in the U.S. District Court for the Northern District of Illinois, asserting six […]