US Cellular Parent Scores Court Order Rejecting 401(k) Fee Suit

Workers suing Telephone & Data Systems Inc. over the fees charged by its $1.35 billion 401(k) plan failed to clear the “high bar” that applies to such cases in the Eighth Circuit, an Iowa federal judge said.

Judge Rebecca Goodgame Ebinger on Wednesday dismissed claims that the TDS, a Chicago-based telecommunications service company that owns wireless carrier US Cellular Corp., mismanaged its retirement plan in violation of the Employee Retirement Income Security Act. The proposed class action’s complaint didn’t include sufficient details about the plan’s fees and administrative services or the fees and services of other plans held up ...