Following a new trend – District court rules for plan administrator in excessive fee case

Description

Abstract: George v. Kraft Foods Global, Inc. involves a class action suit brought on behalf of participants of a 401(k) plan sponsored by Kraft Foods Global, Inc. The plaintiffs challenged plan fees charged for various administrative and investment services, as well as the structuring of company stock fund investment options as “unitized funds.” This article summarizes the U.S. District Court’s opinion dismissing the claims, following a recent trend favoring plan administrators in “excessive fee” suits.