Southeastern Grocers 401(k) Plan Fee Challenge Moves Forward

A longtime Southeastern Grocers LLC employee advanced a proposed class action claiming the supermarket portfolio company mismanages its $1 billion retirement plan by overpaying for administrative services.

The worker identified five similar retirement plans that paid substantially less for recordkeeping services, which is enough to move forward with claims that Southeastern breached its fiduciary duties under the Employee Retirement Income Security Act, Judge Timothy J. Corrigan of the US District Court for the Middle District of Florida said Wednesday.

Though Southeastern “raises some important questions” about the strength of plaintiff Joyce Ulch’s case, those questions “cannot be decided on a ...