Retirement Plan Fees Divide Justices as Lawsuits Pile Up (1)

The U.S. Supreme Court heard arguments Monday in a case that could affect dozens of class suits challenging retirement plan fees, with some justices signaling a desire to protect against plan mismanagement and others concerned with coming down too hard on plan fiduciaries.

The arguments were “messy and confused,” with no clear agreement on the relevant factual allegations or legal theories up for review, Carl F. Engstrom, of counsel with Nichols Kaster PLLP in Minneapolis, told Bloomberg Law.

There “seemed to be some consensus forming” that at least one of the case’s claims—a challenge to the retail share class funds ...