AmerisourceBergen Defends 401(k) Plan From Claims of High Fees

AmerisourceBergen Corp. asked a federal judge to dismiss litigation over its 401(k) plan fees, saying the complaint is based on improper comparisons with differently sized plans.

The plan participants’ lawsuit is based on allegations that AmerisourceBergen paid “slightly more” for 401(k) recordkeeping services than a handful of other cherry-picked retirement plans, the company said in a Sept. 15 motion to dismiss. But the participants offer only conclusory allegations about the services their plan received and no details about the services received by the plans held up as better-run alternatives, the company said.

This isn’t enough to state a viable ...