Tag: Recordkeeping
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Retirement Plan Expert Witness’ Recordkeeping Fees Calculation Rejected
A district judge in Pennsylvania refused to admit the Retirement Plan Expert’s opinions on “excessive” recordkeeping fees being charged. Plaintiff, John McCauley accused PNC Financial Services Group and a Committee appointed to oversee the administration of PNC’s 401(k) Plan of breaching their fiduciary duties under ERISA by allowing the Plan to pay “excessive” fees to…
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Financial Expert Witness’ Opinion on the Reasonableness of the Recordkeeping Fees Rejected
A district judge in Kentucky found the analysis presented by the financial expert witness limited. This class action arises under the Employee Retirement Income Security Act of 1974 (“ERISA”). On behalf of the Humana Retirement Savings Plan (the “Plan”) and its participants, Plaintiffs brought claims for (1) “Breach of Fiduciary Duty of Prudence” and (2) “Failure…
