Dover Defeats 401(k) Plan Fee Challenge But Worker Can Try Again

Illinois-based equipment manufacturer Dover Corp. convinced a federal judge to dismiss a proposed class complaint saying it overpays for administrative services in its $1.5 billion retirement plan.

Judge LaShonda A. Hunt dismissed the case following a telephonic status hearing held Tuesday in the US District Court for the Northern District of Illinois. Hunt didn’t issue a written explanation for the decision, and she gave the plaintiff an Aug. 20 deadline for filing a “final amended complaint.”

The lawsuit, filed in 2022 by an employee of a Dover subsidiary, challenges the annual recordkeeping fees paid by participants in Dover’s 401(k) ...