7th Circuit Takes New Approach on Determining When Fees Are Excessive

A recent decision by the 7th U.S. Circuit Court of Appeals may create more work for plan fiduciaries.  The court in Jones v. Harris Associates L.P. (7th Cir. May 19, 2008) takes a new approach that breaks with previous jurisprudence and comes as the Department of Labor (DOL) continues to issue guidance to assist plan fiduciaries and others in understanding their obligations, the importance of fees, and the assessment of service provider relationships.

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