Principal 401(k) Participants Settle With Company on Excessive Fees Claim

Gregory Porter, a partner in the firm’s Washington, D.C. office, was quoted in an article about a recent settlement in a class action lawsuit between Principal Life Insurance Company and participants in two Principal 401K plans.  On November 18th, U.S. District Judge John Jarvey granted final approval to a settlement negotiated with Principal Financial, which had been accused of violating its fiduciary obligations by charging excessive administrative fees to employees investing their retirement plans in Principal funds in violation of the Employment Retirement Income Security Act (ERISA).

Pensions & Investments: Principal 401(k) participants settle with company on excessive fees claim

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