AT&T Workers Urge 9th Circ. To Revive Sweeping ERISA Suit
By Patrick Hoff (May 11, 2022, 3:52 PM EDT) -- Workers who claim AT&T burdened its $35 billion retirement plan with excessive fees told the Ninth Circuit that it should revive their 250,000-member class action, arguing that the telecommunications company failed to keep an eye on how much the plan's record-keeper was paid for its services.
In a brief unsealed Tuesday, Robert Bugielski and Chad Simecek said U.S. District Judge Virginia A. Phillips ignored U.S. Department of Labor regulations on the Employee Retirement Income Security Act when she ruled AT&T Inc. wasn't required to evaluate and report indirect compensation that record-keeper Fidelity Workplace Services received from third-party service providers.
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