Cincinnati’s TriHealth Inc. charges its workers excessive and unnecessary 401(k) plan fees, a new proposed class action alleges.
TriHealth plan participants paid more than $7 million in excessive fees between 2013 and 2017, according to the July 26 complaint. TriHealth charged 401(k) fees of $328 per person in 2017, when similarly-sized plans—those with between $250 million and $500 million in assets—charged an average of only $166 per person that year, the lawsuit claims.
This is the fourth Employee Retirement Income Security Act lawsuit filed this year by Greg Coleman Law and Jordan Lewis PA accusing a smaller 401(k) plan of ...