An excessive-fee claim under the Employee Retirement Income Security Act has been filed against Insperity, Inc., a provider of outsourced human resource and business management services to small and midsized business.
The case, brought in U.S. District Court for the Northern District of Georgia, alleges trustees to the Insperity 401(k) plan allowed excessively high recordkeeping costs that amounted to self-dealing on the part of plan fiduciaries.
It also alleges participants were offered investment options with unnecessarily high fees.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
