SeaWorld Workers’ 401(k) Plan Fee Challenge Moves Forward Again

SeaWorld Parks & Entertainment Inc. employees again advanced their lawsuit challenging the investment options and fees associated with their 401(k) plan.

The employees can continue to pursue claims that the plan was mismanaged because it offered funds in high-cost share classes instead of identical investments that were available for less money, Judge Robert S. Huie said. SeaWorld said there was an “obvious alternative explanation” for its decision to offer the more expensive share classes—namely, that these higher fees offset other administrative expenses—but that’s not enough to defeat the workers’ claims under the Employee Retirement Income Security Act, the judge said. ...