Monster Beverage Sued Over Retirement Plan Fee Levels, Fund Menu

Monster Beverage Corp. was sued by three participants in its $162 million 401(k) plan who say they’ve been forced to overpay for recordkeeping and administrative services.

Monster’s retirement plan charged about $170 per person for administrative fees during the past few years, when similar plans charged between $22 and $54 for these services, the participants said in a June 28 complaint. The plan also offered high-cost and poorly performing investment options when better options were available for less money, according to the complaint.

• The lawsuit was filed in the US District Court for the Southern District of California on ...