Workers Urge Seventh Circuit to Rethink Oshkosh’s 401(k) Victory

Oshkosh Corp. workers who accused the company of mismanaging their $1.1 billion 401(k) plan asked the Seventh Circuit to rethink its recent decision rejecting their case, saying the court “overlooked or misapprehended” certain facts and points of law.

Contrary to the Aug. 29 opinion favoring Oshkosh, at least one federal court has approved of the workers’ argument that the plan should have offered certain funds in share classes with higher fees that serve to offset other administrative costs, the workers said in a petition for panel rehearing filed Monday. The Sixth Circuit indicated in a July opinion that a prudent ...