Plexus Corp. Sued Over Fees, Investments in Workers’ 401(k) Plan

Wisconsin-based Plexus Corp. on Tuesday was hit with a proposed class action challenging the fees and investment options associated with its 401(k) plan.

The company, which specializes in product design and development, is accused of filling its $400 million 401(k) plan with expensive investment options and excluding low-fee index funds from its investment lineup. The company also failed to rein in the plan’s “astronomical” recordkeeping fees, according to a complaint filed by plan participant Stephanie O’Driscoll in the U.S. District Court for the Eastern District of Wisconsin.

More than 40 employers have been sued over their retirement plan fees in ...