TriNet 401(k) Investors Get Narrowed Class in Suit Over Fees

Retirement investors suing TriNet HR III Inc. over the fees and investment options in a pair of multiple employer retirement plans convinced a Florida federal court to certify their case as a class action covering about 16,000 people.

The certified class includes only participants in the $1.1 billion TriNet Select 401(k) Plan—referred to as the TriNet IV Plan—and not the larger group of participants in the so-called TriNet III plan, which holds $2.9 billion and covers 94,000 people. The only named plaintiff covered by the TriNet III Plan lacks standing, and the TriNet IV Plan participants aren’t typical of the ...