The Edison International case involves a plan sponsor who put "retail" class shares in its company 401(k) plan when identically managed but lower-cost "institutional shares" were available.
The difference in the two share classes was a 12(b)1 fee markup that was deducted from participant assets and used to pay administrative costs of the plan.
The Supreme Court will be hearing the case and will likely weigh in on how and when plan participants are allowed to sue plan sponsors.
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