Verisk Subsidiary Sued Over 401(k) Fees, Joining Long List (1)

Four former employees of Verisk Analytics subsidiary Insurance Services Office filed a proposed class action in New Jersey federal court claiming their $1.6 billion retirement plan is filled with overly expensive investment options that cost the plan and its participants millions of dollars.

Insurance Services filled its plan with expensive, actively managed mutual funds without adequately investigating cheaper and better performing alternatives, the employees allege in a complaint docketed Monday in the U.S. District Court for the District of New Jersey.

The employees charge Insurance Services with failing to use the plan’s large size as leverage to obtain cheaper share ...