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Deloitte wins dismissal of 401(k) fee lawsuit


A U.S. District Court judge in the Southern District of New York on Jan. 13 granted Deloitte L.L.P.’s motion to dismiss a lawsuit alleging excessive 401(k) plan fees, reports Plansponsor. The complaint said that Deloitte’s 401(k) and profit-sharing plan totaling over $14 billion in assets used a revenue-sharing fee structure whereby the plan was charged a percentage of assets managed by The Vanguard Group Inc. instead of a per-participant fee.

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