Bloomberg Law
Oct. 30, 2020, 6:26 PM

Quad/Graphics Hit With Lawsuit Over 401(k) Fees, Disclosures

Jacklyn Wille
Jacklyn Wille
Legal Reporter

A Quad/Graphics Inc. employee claiming the company’s $2 billion 401(k) plan charges excessive administrative fees and offers overly expensive investment options filed a proposed class action on Friday in Wisconsin federal court.

Current Quad/Graphics employee Sharita Shaw accuses the company of failing to regularly monitor the plan’s administrative fees or solicit competitive bids from plan service providers. The plan’s annual administrative fees are about $91 per participant, when a reasonable annual fee would have been no more than $33 per participant, Shaw alleges in a complaint filed in the U.S. District Court for the Eastern District of Wisconsin.

Shaw also ...