Deloitte Workers’ 401(k) Fee Appeal Rejected by Second Circuit

Deloitte LLP on Tuesday defeated a Second Circuit appeal by a proposed class of workers challenging the fees associated with their retirement plan.

The workers allege “next to nothing” about the recordkeeping services provided by the Deloitte plan or by the six other retirement plans they hold up as better-run alternatives, the US Court of Appeals for the Second Circuit said. The complaint “conclusorily alleges” that nearly all national 401(k) recordkeepers provide the same range of services, but it’s “silent on the number of services actually provided by either the Plan or its alleged comparators,” the court said in ...