As 401(k) suits mount, check your own plan

By Darla Mercado

As more employees file suit against their employers claiming excessive 401(k) fees, perhaps it’s time for you to take a closer look at the costs inside your own retirement savings plan.

Two former employees of American Century, with $149.3 billion in assets under management, recently filed suit against the money manager, claiming that the company’s use of its own mutual funds in the retirement plan resulted in participants paying “millions of dollars in excess fees.”

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