Generac Power 401(k) Fee Suit Dismissed for Faulty Comparisons

Generac Power Systems Inc. is free from a proposed class action challenging its 401(k) plan fee levels, after a Wisconsin federal judge said the case wasn’t based on “apples to apples” comparisons.

The complaint says Generac’s annual 401(k) recordkeeping fees were excessive because they averaged out to $85 per person over a series of years, but this argument is based on comparisons to the fees charged by other plans in specific, unidentified years. This isn’t a fair comparison, Judge Pamela Pepper said, because “what constitutes a ‘reasonable’ recordkeeping fee may vary from year to year due to inflation or other ...