Trader Joe’s Again Beats Would-Be Class Suit Over 401(k) Fees

Trader Joe’s Co. won dismissal of a proposed class action challenging the fees and investment options in its $1.7 billion 401(k) plan, when a Los Angeles federal judge ruled it wasn’t imprudent for the plan’s fiduciaries to offer a mix of active and passive funds at a variety of fee levels.

Judge Percy Anderson of the U.S. District Court for the Central District of California rejected an assortment of challenges to the Trader Joe’s plan, including allegations that the plan failed to offer the cheapest available share classes and charged unreasonable annual record-keeping fees of $48 per participant.

Retirement plan ...