Denso Workers Denied Revival of 401(k) Fee Challenge on Appeal

Denso International America Inc. on Tuesday defeated a Sixth Circuit appeal by a proposed class of workers who say fees are too high in the automotive component manufacturer’s retirement plan.

The workers’ complaint includes no details about the types or quality of services received by the other retirement plans held up as better-run alternatives, the US Court of Appeals for the Sixth Circuit said. Generic allegations about the retirement plan industry aren’t enough to state a valid claim under the Employee Retirement Income Security Act, the appeals court said, and the workers’ own allegations show significant variations among the ...