401(k) Plan Servicers Owed No Fiduciary Duty To Plan Participants

(March 29, 2018, 1:35 PM EDT) -- CHICAGO — An Illinois federal magistrate judge on March 19 dismissed a plan participant’s claims against two servicers of her company’s 401(k) retirement plan after determining that the claims for breach of fiduciary duty arising out of the receipt of excessive fees could not stand because the plan servicers owed no fiduciary duty to the plan participants (Cheryl Scott, et al. v. Aon Hewitt Financial Advisors LLC, et al., No. 17-679, N.D. Ill., 2018 U.S. Dist. LEXIS 44606)....

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