Montefiore Medical Center Beats Appeal Over Retirement Plan Fees

New York’s Montefiore Medical Center on Wednesday defeated a Second Circuit appeal by workers challenging their retirement plan’s fee levels.

The workers identified several other retirement plans that allegedly paid lower fees, but they nevertheless failed to show that the Montefiore plan’s fee levels were excessive “relative to the services rendered,” the US Court of Appeals for the Second Circuit said in an unpublished opinion. That flunks the standard the Second Circuit set last month in Singh v. Deloitte LLP, the court said.

The Montefiore plan participants argued that retirement plan recordkeeping services are “fungible” across providers, making ...