ADP Beats Suit Over 114,000-Person Retirement Plan’s Fees, Funds

Human resources and benefits provider ADP Inc. again defeated a lawsuit claiming it mismanages a 401(k) plan covering employees across 5,000 companies.

Judge Esther Salas dismissed allegations that the ADP TotalSource Retirement Savings Plan charged excessive annual recordkeeping fees ranging between $79 and $124 per person. The lawsuit failed to explain what services the plan received in exchange for these fees, and it didn’t include comparisons to specific other plans, she said.

Salas’ unpublished order, issued March 31 in the US District Court for the District of New Jersey, also rejected claims challenging certain allegedly high-cost investment options. Plaintiff ...