AT&T Win Is Road Map for Defense of 401(k) Fees, Lawyers Say

AT&T’s defeat of a massive class action challenging its retirement plan’s record-keeping fees could help other plan sponsors defend against similar disputes.

The telecommunications giant beat back a class action this week involving more than 245,000 members of its 401(k) plan. The lawsuit accused AT&T of failing to evaluate and monitor the record-keeping fees it pays Fidelity Investments Institutional Operations Company Inc.

The flood of class actions brought in recent years over allegedly excessive 401(k) plan fees isn’t letting up. But with more companies choosing to fight rather than settle, defense attorneys say AT&T’s case could serve as ...