Los Angeles partner Fred Reish was quoted in the Employee Benefit News article “Retirement Fee Lawsuits on the Rise.” The article explores the rise in retirement lawsuits and the need for plan sponsors to stay vigilant to protect themselves from litigation.
Fred states that investment expenses will continue to be a source of litigation and explained, “That focus will certainly include, and may concentrate on, the selection of the share class that is appropriate for the plan. Larger plans have access to a wider range of share classes, including very low-cost share classes. Unfortunately, many plan sponsors have not paid enough attention to the share class issue and, as a result, have put themselves at risk.”
Fred’s commentary was also featured in Employee Benefit Adviser.