InvestmentNews Credits Schlichter Bogard & Denton With Lowering 401(k) Fees Industrywide

A recent InvestmentNews article details how 401(k) litigation led by Schlichter Bogard & Denton has led the retirement industry to dramatically lower fees and has caused plan sponsors to change the way they compensate service providers. All of this has produced significant benefits for retirement plan participants in the forms of fee savings and increased transparency.

Since 401(k) litigation emerged in 2006 when Schlichter Bogard & Denton filed the first in a series of cases challenging several large companies’ 401(k) fees, adviser fees, including plan recordkeeping fees, have undergone a dramatic decline. Excessive recordkeeping fees have been attacked in many of the retirement plan cases filed by Schlichter Bogard & Denton over the years – including in the Tibble v. Edison case that resulted in a unanimous Supreme Court victory as cited in the InvestmentNews article. According to NEPC, a retirement plan consulting firm, recordkeeping fees have declined by 33% since 2012.

The article also highlights how plan sponsors are changing the way they pay for administrative and recordkeeping services, adopting new and more transparent methods of payment including flat per-participant fees instead of opaque revenue sharing arrangements that are deducted from participants’ investments.

For additional information about Schlichter Bogard & Denton’s ERISA and Financial Abuse practice, please contact Schlichter Bogard & Denton at 1-800-873-5297 or