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Defined contribution plan sponsors face an increasing risk of lawsuits that claim administrative and investment fees are too high or that investment performance does not meet expectations. These lawsuits, numbering more than 200 since 2015 and resulting in more than $1 billion in settlements, amount to insidious ‘litigation profiteering’ that has generated more than $250 million in attorney fees, said insurance program administration firm Euclid Specialty.

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