Insperity 401(k) Accused of Excessive Fees in New Suit

Insperity Inc., a human resources services provider, loaded its 401(k) plan with high-fee investment funds and paid itself excessive record-keeping fees, a new class action complaint alleged (Pledger v. Reliance Trust Co., N.D. Ga., 1:15-cv-04444, complaint filed 12/22/15).

With more than $2 billion in assets, the Insperity 401(k) plan is one of the largest in the country, benefiting more than 50,000 workers at the small and medium-size companies that Insperity services. A proposed class action, filed Dec. 22 by St. Louis-based Schlichter, Bogard & Denton, accused the company of using the plan to earn excessive fees for ...