TriNet 401(k) Class Action Fails as Judge Rips Expert Witness

Retirement investors suing TriNet HR III Inc. lost their lawsuit challenging the fees in one of the company’s multiple employer plans, when a federal judge rejected their expert witness and approved of how the company monitored the plan.

The undisputed evidence shows that TriNet appropriately monitored the plan’s recordkeeping fees by conducting multiple competitive searches for recordkeepers and undergoing regular benchmarking exercises in the interim, Judge Virginia M. Hernandez Covington said Wednesday. There’s also substantial evidence that TriNet properly monitored the plan’s investment options by receiving detailed performance reports and regularly discussing which funds should be included in the plan, ...