John Hancock Ducks ERISA Suit Alleging Excessive Plan Fees

Law360, New York (July 25, 2013, 5:11 PM EDT) -- A New Jersey federal judge on Wednesday tossed a putative class action alleging John Hancock Life Insurance Co. and its affiliates charged excessive service provider fees on 401(k) retirement plans, saying John Hancock was not acting as a fiduciary under the Employment Retirement Income Security Act.

U.S. District Judge William J. Martini granted John Hancock’s motion to dismiss the seven ERISA claims in the suit launched by plan participants alleging John Hancock charged excessive fees, improperly received revenue sharing payments and improperly selected the JHT-Money Market...
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