Tenth Circuit Adopts “Meaningful Benchmark” Pleading Standard in Dismissing Challenges to 401(k) Plan Fees
Proskauer's Employee Benefits & Executive Compensa
SEPTEMBER 13, 2023
Background Participants in the Barrick Gold 401(k) plan commenced a putative class action against the plan sponsor, board of directors, and plan fiduciaries alleging that (i) the plan’s investment menu contained investment options with unreasonably high fees, and (ii) the plan’s recordkeeping fees were excessive. The case is Matney v.
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