Seventh Circuit Issues Decision in ERISA Excessive Fee Case

February 23, 2009
In an ERISA (Employee Retirement Income Security Act of 1974) case involving alleged excessive fees and revenue sharing, the Seventh Circuit Court of Appeals recently made rulings that are favorable to both sponsors of 401(k) plans, and to vendors that provide a platform or menu of mutual funds from which employee benefit plans may select. This update takes an in-depth look at the decision in Hecker v. Deere & Co., which may influence the outcome of other pending cases.