Kellogg 401(k) Fee Challenge Fails for Lack of Details, Context

A former Kellogg Co. accountant challenging the company’s 401(k) plan fee levels didn’t provide enough details to advance his case, a federal judge ruled, dismissing the proposed class action after it was revived on appeal.

The complaint includes comparisons to three other 401(k) plans that allegedly paid less for the same administrative services, but there aren’t sufficient details about the types of services received by each plan or the time periods being compared, Judge Jane M. Beckering said Monday. This flunks the standard set by the US Court of Appeals for the Sixth Circuit, which requires Employee Retirement Income Security ...