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TriHealth Suit Revived as Sixth Circuit Weighs 401(k) Fees Again

July 13, 2022, 4:23 PM

TriHealth Inc. employees challenging their $457 million retirement plan revived part of their lawsuit Wednesday, when the Sixth Circuit said they could pursue claims that the plan offered pricey fund share classes when identical investments were available at lower cost.

TriHealth’s alleged failure to switch to cheaper share classes in 17 of the plan’s 26 investment funds could constitute a breach of fiduciary duty under the Employee Retirement Income Security Act, the US Court of Appeals for the Sixth Circuit said. These allegations, taken in their “most flattering light,” suggest TriHealth “failed to exploit the advantages of being a large ...