Minnesota’s Taylor Corp. Sued Over 401(k) Plan Fees, Investments

Taylor Corp. was sued in federal court by five former employees who say the Minnesota printing company’s $877 million 401(k) plan paid above-market administrative fees and offered funds with excessive investment management fees.

The proposed class action, filed Monday in the U.S. District Court for the District of Minnesota, claims Taylor plan participants paid annual administrative fees that ranged between $72 and $95 per person, when a reasonable annual fee would have been no more than $35 per person. Taylor has used the same plan recordkeeper since at least 2016, and there’s “nothing to suggest” the company took steps to ...