A lawsuit accusing human resources provider Insperity Inc. of loading its 401(k) plan with high-fee investment funds and paying itself excessive record-keeping fees is moving forward (Pledger v. Reliance Tr. Co., N.D. Ga., No. 1:15-cv-04444, 3/7/17).
The eight-count lawsuit attacks the management of Insperity’s $2 billion 401(k) plan, which participants claim offered expensive and poorly performing investment options and paid excessive fees to a record keeper affiliated with the company. A federal judge on March 7 refused to dismiss most of the claims against Insperity and Reliance Trust Co., including the accusation that Insperity filled the 401(k) plan ...
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